According to the World Health Organization (WHO) and World Bank, about 15.3 percent of the world’s population lives with some form of disability. Many of them are not provided with equal opportunities in obtaining financial products and services as compared with their peers; they are often unable to engage in services involving the financial sector due to inaccessibility of services.¹ However, the financial services industry is changing. Banks, for example, are realizing the need to provide accessible banking and financial services in order to ensure that customers with disabilities are not left out of the finance industry, including many around the world.
Several years ago, Barclays introduced talking ATMs – which has allowed customers who are blind and have other vision-related disabilities to independently access financial services. Barclays provides speech output for over 3,000 of its ATMs using an audio jack that can be used to plugin ear phones in order to listen to options being read aloud, enabling the customer to complete transactions independently.² The use of these ATMs can be beneficial to people with a range of disabilities, including dyslexia and low vision, as well as anyone who simply prefers to receive information orally rather than by reading it off the screen. The ATMs provide privacy, independence and choice for customers with a variety of disabilities.
Lloyds Banking Group in the UK has been recognized for providing outstanding service to customers with disabilities. Lloyds provides:
- Sign language and text services for customers who are deaf using webcams to connect with British Sign Language interpreters.³
- Talking cash machines equipped with jack plugs to allow cardholders to connect earphones which generate a spoken walkthrough of each transaction screen.⁴
- Access to an expert customer service helpline using an enhanced form of text phone that allows customers who are deaf or hearing impaired to use their own mobile device or computer as well as a traditional text phone to contact the bank and converse with customer service staff.⁵
Lloyds believes in being proactive in recruiting people with disabilities in order to have an optimal understanding of how to provide accessible banking and financial services for customers with disabilities.⁶ As a result of its commitment to disability diversity, the bank has broaden its expertise in areas such as: mortgages, insurance, finance and investments.⁷ Lloyd’s Banking Group has continued to increase its presence throughout the UK as well as create improved banking and financial services using firsthand knowledge from its employees with disabilities.⁸
Similar to Lloyds Banking Group, HSBC Bank also launched a similar video relay service that makes it easier for members of the Deaf community who use British Sign Language to communicate with the banks through their telephone banking service. The director of HSBC Bank states, “Research has shown that many members of the Deaf community are put off from using essential day-to-day service providers due to a lack of access and some believe they have even been financially disadvantaged as a result.”⁹ A video relay service will improve the quality of financial services provided to the deaf and hard of hearing as well as increase their level of participation in the financial services sector.¹º
Research conducted by Barclays indicates that while the majority of UK companies are not currently applying “inclusive design” – the process of making something more accessible and inclusive – to their business, over three quarters (77%) would be beneficial if given the right guidance.¹¹ Banks in the U.S. have been steadily improving the quality of services provided to customers with disabilities.
For example, Bank of America has worked with the Bay State Council of the Blind and customers with visual impairments on its newest accessibility initiative. Marcia Dresser, president of the Bay State Council of the Blind, the Massachusetts affiliate of the American Council of the Blind, praised the bank’s efforts; “For many years, Bank of America has been a strong partner to the blind community in improving access to a wide variety of banking services. These accessibility enhancements to Mobile and Online Banking security features are a welcome addition to the bank’s commitment to customers with disabilities.”¹² Bank of America continues to ensure that its web and mobile bank applications are accessible to customers who are blind and visually-impaired using Web Content Accessibility Guidelines (WCAG 2.0). In addition, in 2010 Bank of America announced that every ATM will deliver private, spoken instructions through a headset plugged into an audio jack in order to provide independent accessibility to individuals who cannot see an ATM screen.¹³
Technology advancements in accessibility have changed the way financial services are offered and used. The growing availability and use of Internet, phone, and mobile banking are generating greater expectations of receiving services “anywhere, anytime” and driving businesses to understand the importance of providing services using a variety of platforms that are accessible to everyone-including customers with disabilities. By offering financial services that are accessible, more customers will utilize the services they need. In addition, accessible services allow customers who were “under-banked” or “unbanked” to enhance their financial opportunities.¹⁴
http://www.viscardicenter.org/resources/blog/accessible-tech-part-one.html
¹ Is Banking Accessible to Persons with Disabilities? (accessed April 22, 2016); available from
https://www.linkedin.com/pulse/banking-accessible-persons-disabilities-nabil-eid
² Barclay’s Introduces Talking ATM’s: Switch to Audio-Enabled Cash Machines (accessed April 22, 2016);
available from http://www.which.co.uk/news/2012/11/barclays-introduces-talking-atms-300719/
³ Lloyds Banking Group launches its Customer Disability Programme and commits to provide innovative
technology to make banking easier (accessed April 22, 2016); available from http://www.lloyds bankinggroup.com/Media/Press-Releases/2012-Press-Releases/Lloyds-Banking-Group/Lloyds-Banking- Group-launches-its-Customer-Disability-Programme-and-commits-to-provide-innovative-technology-to-make-banking-easier/
⁴ Lloyds Banking Group launches its Customer Disability Programme and commits to provide innovative
technology to make banking easier (accessed April 22, 2016); available from http://www.lloyds bankinggroup.com/Media/Press-Releases/2012-Press-Releases/Lloyds-Banking-Group/Lloyds-Banking-Group-launches-its-Customer-Disability-Programme-and-commits-to-provide-innovative-technology-to-make-banking-easier/
⁵ Lloyds Banking Group launches its Customer Disability Programme and commits to provide innovative
technology to make banking easier (accessed April 22, 2016); available from http://www.lloyds bankinggroup.com/Media/Press-Releases/2012-Press-Releases/Lloyds-Banking-Group/Lloyds-Banking- Group-launches-its-Customer-Disability-Programme-and-commits-to-provide-innovative-technology- to-make-banking-easier/
⁶ Lloyds Banking Group: making disability ‘business as usual’ (accessed April 22, 2016); available
from http://www.rubensteinpublishing.com/default.aspx?id=1190969
⁷ Positive about disability: A Lloyds TSB case study (accessed April 22, 2016); available from
http://businesscasestudies.co.uk/lloyds-tsb/positive-about-disability/introduction.html#axzz46ZZp4BTG
⁸ Lloyds Banking Group: making disability ‘business as usual’ (accessed April 22, 2016); available
from http://www.rubensteinpublishing.com/default.aspx?id=1190969
⁹ Banks launch video relay service for members of the deaf community (accessed April 22, 2016);
available from http://www.heraldscotland.com/business/14390582.display/
¹º Banks launch video relay service for members of the deaf community (accessed April 22, 2016);
available from http://www.heraldscotland.com/business/14390582.display/
¹¹ Barclays: UK SMES need better advice to Cater for Disabled Customers (accessed April 25, 2016);
available from http://www.newsroom.barclays.com/r/3343/uk_smes_need_better_advice_to_cater_for_disabled_customers
¹² Bank of America Continues Its Leadership Role in Accessibility for People With Visual Impairments
(accessed May 9, 2016); available from http://newsroom.bankofamerica.com/press-release/consumer-banking/bank-america-continues-its-leadership-role-accessibility-people-visua
¹³ Bank of America Continues Its Leadership Role in Accessibility for People With Visual Impairments
(accessed May 9, 2016); available from http://newsroom.bankofamerica.com/press-release/consumer-banking/bank-america-continues-its-leadership-role-accessibility-people-visua
¹⁴ Is Banking Accessible to Persons with Disabilities? (accessed April 22, 2016); available from
https://www.linkedin.com/pulse/banking-accessible-persons-disabilities-nabil-eid