Financial sector predicts it will spend more on digital accessibility in 2025

By Research and Evaluation Officer at AbilityNet, Ell Martin 

The financial sector has a significant role to play in setting an example for best practices to achieve in digital inclusion and accessibility. 

We know from speaking to the people we support, and wider research, that it's vital that banking services are made accessible for those with digital accessibility needs. 

Report cover for Attitudes to Digital Accessibility 2024 October showing woman at work in front of computer smilingIn AbilityNet’s Attitudes to Digital Accessibility Survey 2024 of more than 400 business professionals worldwide, the financial sector represented 5.9% of respondents.

Our report, which outlines the key survey results, suggests the sector may be further along than others with embedding digital accessibility, but there is still a way to go to ensure it is prioritised within the sector overall. 

Building accessibility expertise

Three men in suits sitting at desk working togetherPositively, the financial sector predicts it will spend more on digital accessibility in the next year, with 50% predicting so, compared to only 32% of all survey respondents. However, that is still half of respondents predicting no increase or who are unsure.  

The overall results that show a worrying indication that digital accessibility is a lower priority in 2024 than 2023, plus sector-wide uncertainty over European Accessibility Act (EAA).

But, another positive, when asked if their organisation helps individuals develop the skills they need to deliver digital accessibility, a larger percentage of respondents (65%) from the financial sector agreed strongly, compared with 46% of all survey respondents. 

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Financial sector’s accessibility confidence is high 

Encouragingly, a higher percentage of finance sector respondents are also ‘very confident’ about their understanding of digital accessibility within their role (42% compared to 33% of all respondents).   

However, this confidence did not translate to priority; over half of respondents told us that digital accessibility was a neutral priority for their leadership, ticking ‘Neither high nor low relative to other activities’. 

When asked 'Can you explain what you think are any reasons for the priority your organisation applies to digital accessibility?' responses were varied, and included: 

  • “No clear understanding of the role of accessibility. It is always done and checked at the tail end of the process.” 
  • “I would go so far to say that our organization is accessibility-first when it comes to how they treat our software development.” 
  • “Digital accessibility high priority when looking at customers. But a neither high or low when looking at internal accessibility.” 

The full Attitudes to Digital Accessibility report will help you benchmark your digital accessibility activities against other organisations, gain valuable insights into common issues in inclusion such as meeting the EAA requirements, and give you ideas for improvements you can make. 

Download the free 2024 report

At-a-glance financial sector findings 

The report reveals the following about the financial sector:

Motivators for digital accessibility

The top three motivators cited by the financial sector for delivering digital accessibility:

  1. Meeting legal requirements
  2. Reducing business risk
  3. Because it’s good for business

Barriers to delivering digital accessibility

The three leading barriers cited to delivering digital accessibility:

  1. Lack of understanding a business case - this was a proportionately bigger barrier for the financial sector (57% compared to 39% of overall respondents). Download the Business Case for Accessibility.
  2. Limited or no budget allocated
  3. Lack of internal skills and experience 
     

User research

The financial sector also reports that it conducts more user research and user testing with disabled people compared to all respondents. Learn about how AbilityNet's experts can help with your user research.

Financial sector attitudes: in their own words
When asked in their own words what barriers respondents faced for improving digital accessibility, their answers reflected that digital accessibility was not always being prioritised: 
- “Budgets are squeezed, and people are occasionally unaware of the guidelines they should follow as quickly as they should be.” 
- “Resource availability. There is more accessible work to be delivered than we have workers to complete the work” 
- “Company sees this as an extra checklist item, UX doesn't want to spent time making sure buttons are different than links.” 

Motivations for delivering digital accessibility differed for the financial sector than other sectors, suggesting that they are more aware of the impact getting digital accessibility right can have on their organisation – both positively and negatively:

- ‘Reducing business risks’ was the second highest motivator with 65% of respondents in the financial sector choosing that, compared to 35.6% of all respondents.  

- ‘It’s good for business’ was chosen by 60.9% of sector respondents, compared to 44% of all respondents. 

- Like many other respondents, ‘meeting legal requirements’ remained high for finance sector staff. 

In summary: Don't make banking a barrier for disabled people

Understanding the ‘why’ and building a business case may support the financial sector to push digital accessibility as a higher priority.  

Increasing digital accessibility will not only increase a customer base for financial services, but if done so through appropriate digital support, will help alleviate digital exclusion.  

Financial sector results interpreted by Amy Low, CEO at AbilityNet:
AMy Low smiling“Financial sector professionals provided a positive response to our annual Attitudes to Digital Accessibility survey again this year.

 
Responses indicate a growing recognition of the importance of legal compliance as a powerful motivator for ensuring digital accessibility improvements are made, and a commitment to investing in accessibility development by financial institutions.

However, a significantly larger proportion of financial sector respondents than other sectors cited a lack of understanding of the overall business case for digital accessibility as a barrier to making improvements.

Given the powerful business case for providing an accessible and welcoming customer experience to disabled and older customers and the potential business cost of neglecting to provide this, it feels like a key area in which to drive awareness and engagement. AbilityNet looks forward to working with teams to provide guidance about the broader benefits of making digital accessibility adjustments."

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