Rationale
Why is it Important?
16%
of the global population are people with disabilities
20%
of the world’s poorest people have some kind of disability
80%
of people with disabilities live in developing countries
People with disabilities experience discrimination and barriers to social and economic participation, leading to an increased risk of poverty. Access to regulated financial services such as bank accounts, savings, insurance and loans is a key enabler for people with disabilities to engage in economic activity and access other services, in order to break the link between disability and poverty.
At 16% of the global population, people with disabilities represent a significant population segment which is currently under-served by financial services providers (FSPs), and one that is rapidly increasing due to population growth and ageing. People with disabilities are also under-represented in the workforce; creating an inclusive workplace increases employee engagement and enables FSPs to access this talent pool, bringing diverse skills and perspectives. At the same time, social expectations are evolving rapidly, with an increasing onus on companies to go beyond compliance and demonstrate true inclusivity in order to attract and retain customers.
Benefits for FSPs
By making their products, services and workplace inclusive of people with disabilities, FSPs can benefit their business by:
Expanding their customer base
Making user interfaces more accessible for all customers, leading to increased satisfaction and loyalty
Enhancing their brand reputation
A Market- Led Opportunity
Improving employee engagement and talent acquisition
Fulfilling Corporate Social Responsibility (CSR) obligations
Compliance with non-discrimination and accessibility regulations
Reinforcing long-term sustainability, aligned to the SDGs and social expectations.
Key Concepts
Making financial services accessible for people with disabilities can enhance the service experience for all users, leading to increased customer satisfaction and a potential source of competitive advantage for the financial services provider. Considering the needs of all users at the design phase often has little or no cost.
Image by Freepik
Universal design
According to the UNCRPD, Universal Design means "the design of products, environments, programs, and services to make them most suitable for use by all people, to the greatest extent possible, without the need for adaptation or specialized design". This approach has seven guiding principles that can be used to evaluate existing designs and guide the design process for new developments:
1. Equitable Use: useful and marketable to people with diverse abilities.
2. Flexibility in Use: accommodates a wide range of individual preferences and abilities
3. Simple and Intuitive Use: easy to understand, regardless of the user’s experience, knowledge, language skills, or current concentration level
4. Perceptible Information: communicates necessary information effectively to the user, regardless of ambient conditions or the user’s sensory abilities.
5. Tolerance for Error: minimizes hazards and the adverse consequences of accidental or unintended actions.
6. Low Physical Effort: can be used efficiently and comfortably and with a minimum of fatigue.
7. Size and Space for Approach and Use: Appropriate size and space are provided for approach, reach, manipulation, and use regardless of the user’s body size, posture, or mobility.
The Curb- Cut Effect
This simple example illustrates how incorporating the needs of people with disabilities in design can benefit all users. Curb-cuts (small ramps built into a sidewalk or pavement) were first used in US after the Second World War, when returned veterans lobbied for their introduction to help wheelchair-users to cross roads. They were quickly found to benefit many other people (such as parents pushing children in prams, cyclists, delivery workers and travellers pulling suitcases), making navigating towns and cities easier for everyone.
Image: Sketchplanations