Inclusive Banking Begins Now: The Impact of the European Accessibility Act

On June 28, 2025, the European Accessibility Act (EAA) will come into effect across all EU member states. As part of the EU’s broader commitment to the United Nations Convention on the Rights of Persons with Disabilities (CRPD), which it ratified in 2011, the EAA aims to harmonize accessibility requirements across the EU. Its goal is to ensure equal access to essential products and services, including those in the financial sector. For financial institutions and fintech companies, this is not just a legal mandate — it is an opportunity to innovate and grow.

The EAA defines disability broadly, covering individuals with long-term physical, mental, intellectual, or sensory impairments. This includes people who are blind or have low vision, are deaf or hard of hearing, have cognitive conditions like dementia or dyslexia, or experience mobility challenges. Crucially, the Act also acknowledges the needs of older individuals and those with temporary impairments.

In total, the EAA is expected to improve daily life for over 87 million people—almost one in five Europeans, or one in four European adults. On a global scale, around 1.3 billion people experience significant disability, representing 16% of the world’s population. These figures highlight both the Act’s positive social impact and the commercial potential of accessibility. A 2018 Accenture study found that companies prioritizing inclusion and accessibility saw 20% higher revenue and 30% higher profit margins than their competitors.

Financial services are essential to everyday life, and the EAA mandates they be accessible to all. Key areas of focus include:

Digital Banking Platforms: Websites and mobile apps must comply with the Web Content Accessibility Guidelines (WCAG) 2.1, ensuring interfaces are perceivable, operable, understandable, and robust. This includes everything from daily banking to investment services, customer onboarding, credit applications, and proxy voting.
Self-Service Terminals: must incorporate text-to-speech functionality, support personal headsets, include tactile buttons and Braille, and offer the possibility to extend the time limit before cancelling the transaction.
Credit and Payment Cards: As embossed cards give way to laser-printed alternatives, visually impaired users face new barriers. Every bank should offer embossed, notched cards as a standard, not as a special request.
Customer Communication: Key documents (e.g., PRIIP KIDs) must be written in plain language (B2 level of the CEFR) and provided in multiple formats such as text, audio, and video.

Non-compliance may result in fines, lawsuits, and reputational harm.

Several niche fintech pioneers are already embracing inclusive design:

Purple: A U.S. platform tailored for users with disabilities, offering screen reader support, voice control, and accessible financial education.
Sibstar: A UK fintech supporting individuals with dementia through a secure debit card and app, in collaboration with the Alzheimer’s Society.
WeBank: China’s first digital-only bank, which incorporates AI-driven speech synthesis and real-time image processing to assist visually impaired users.
Charlie: Designed for users aged 62+, this platform offers a simplified interface and strong support tailored to older adults’ needs.

These examples demonstrate that accessibility is a driver of better, more inclusive products and a broader customer base.

To prepare for the EAA, financial service providers should:

Conduct Accessibility Audits to identify compliance gaps.
Implement Inclusive Design Practices across digital platforms, such as keyboard navigation, screen reader support, responsive designs, sufficient color contrast and text alternatives for images. (i.e. alt text).
Train Staff on accessibility awareness and best practices.
Engage with Users with Disabilities during testing and feedback cycles.
Publish Accessibility Statements to demonstrate transparency and accountability.

Although the Act includes exemptions (e.g. legacy products, older content, small businesses, B2B services…), it sets a new standard—and a unique opportunity—for differentiation.

Importantly, accessibility should be treated as a continuous priority, not a one-off effort. Regular updates, user feedback, and staff training are essential. Beyond compliance, accessible design improves UX for everyone—offering easier navigation, clearer communication, and increased customer satisfaction. As Europe’s population ages, digital inclusion will become ever more critical.

Forward-looking banks could also turn compliance with this Act into a competitive advantage. E.g. an AI-driven Virtual Accessibility Assistant could help users tailored to their needs. It could guide visually impaired users through onboarding, offer sign language explainers, enhance error messages, and more. Small improvements like these can open the door to millions of new customers.

As research shows, inclusive design pays off. The cost of “getting it right” is modest, and the market opportunity is immense.

For more insights, visit my blog at https://bankloch.blogspot.com

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