NewsLo 📊
NewsLo 📊
  • Home
  • Business
    • Accounting
    • Advertising
    • Branding
    • Career
    • Cyber Security
    • Entrepreneur
    • Jobs
    • Management
    • Marketing
    • Non Profit
    • Sales
    • Search Engine Optimization
    • Web Design
  • Finance
    • Banking
    • Bankruptcy
    • Budgeting
    • Credit
    • Debt
    • Estate Wills & Trusts
    • Home Improvements
    • Law
    • Loans
    • Personal Finance
    • Taxes
    • Shopping
  • Investment
    • Crypto Currency
    • Gold & Silver
    • Hard Assets
    • Real Estate
    • Retirement
    • Stocks & Bonds
    • Trading
  • Real Estate
    • Buying
    • Selling
    • Commercial Construction
    • Construction Law
    • Home Improvement
    • Loans
    • Property Management
    • Real Estate Laws
    • Rental Property
  • Insurance
    • Auto Insurance
    • Commercial Real Estate Insurance
    • Crop Insurance
    • Dental Insurance
    • Disability Insurance
    • Health Insurance
    • Home Owners Insurance
    • Identity Theft Protection
    • Insurance Law
    • Investment Insurance
    • Life Insurance
    • Pet Insurance
    • Renters Insurance
  • Contact Us
Financial Services Website
  • Finance

Is Your Banking and Financial Services Website Compliant with the ADA?

  • February 16, 2021
  • NewsLo
  • No comments
  • 4 minute read
Total
0
Shares
0
0
0

2020 marked the 30th anniversary of the enactment of the Americans with Disabilities Act (ADA). Banks and other financial institutions have adopted various measures to make their physical premises more accessible.

From installing ramps alongside stairs to adjusting the height of teller windows – banks have strived continuously to make their services more inclusive and accessible. It’s even possible to find ATM machines equipped with auxiliary aids and Braille labels.

However, in today’s day and age, creating a disabled-friendly physical location isn’t enough. You also have to ensure that your website, mobile application, and other digital assets are accessible to users with disabilities.

Why Should Financial Services Websites Be Accessible

Why Should Financial Services Websites Be Accessible

The advent of online banking has revolutionized the way consumers interact with financial institutions. Whether you want to pay your credit card bill or transfer funds to another bank account, you can do it from the comfort of your home. A couple of clicks is all you need to check your account balance or renew your insurance policy.

This often creates the illusion that online banking has made financial services more accessible to disabled users. After all, they can complete a transaction and monitor their bank account without having to physically visit a bank branch.

But what happens when a blind user enters a wrong password while logging into their bank account? It’s not like they can read the error message that’s being displayed on the financial services website. Eventually, they might have to seek help from a sighted person to use the website.

Likewise, a motor impaired user may not be able to navigate different sections of the financial services website using a mouse. If your financial services website doesn’t support keyboard-friendly navigation, it might force a user with mobility issues to physically visit the bank branch to complete a transaction.

This defies the entire point of using online banking as a way to make financial services more accessible and inclusive. The problem is further exacerbated by the increasing closure of bank branches in the U.S. due to the rise of internet banking.

The only way to overcome this paradoxical situation is to make financial services websites accessible i.e. ADA compliant. This is particularly crucial considering that nearly 1 in 4 adults in the U.S. suffers from one of the following types of disabilities:

  • Sensory impairment (partial or total blindness, deafness, color blindness)
  • Cognitive or intellectual impairment
  • Mobility-related disorders

Also, contrary to popular belief, most differently-abled people are employed and therefore, possess spending power. This, in turn, means they’re in dire need of accessible banking websites.

ADA: A Closer Look

A Closer Look

Simply put, Title III of the ADA prohibits businesses with physical locations, such as banks, hospitals, stores, etc., from discriminating against people with special needs or disabilities. In other words, businesses must implement suitable modifications to ensure that differently-abled consumers can access their products/services.

Since the internet was still in its infancy when the law was passed, Title III of the ADA doesn’t specify any regulations for a business’s digital assets. However, the federal court rulings in recent web accessibility lawsuits emphasize that websites, mobile applications, and other digital assets are an extension of a business’s physical location.

It is, therefore, crucial for financial institutions, such as banks, credit card companies, etc., to ensure that their websites are ADA compliant. Many established financial institutions, including Bank of America, Key Bank, and American Express, have been served with ADA Title III lawsuits in the past.

For instance, in 2016, Bank of America was sued by a visually impaired mortgage holder alleging that the bank’s mortgage-related documents weren’t compliant with the WCAG 2.0 (AA level) guidelines. Likewise, First American Bank was sued by a blind man who alleged that the bank’s website was inaccessible, even with a screen reader.

Needless to say, if you run or manage a financial institution, you wouldn’t want to end up on the receiving end of such lawsuits. Apart from the financial and legal repercussions, web accessibility lawsuits can damage your brand reputation. This, in turn, will make it difficult for you to earn the trust of new customers.

How to Make Financial Websites ADA Compliant

How to Make Financial Websites ADA Compliant

The key to making your banking or financial services website ADA compliant is to ensure that it adheres to the WCAG (Web Content Accessibility Guidelines) 2.1. Also, your financial services website must achieve AA level of compliance with the WCAG 2.1 guidelines.

To begin with, this involves implementing keyboard-friendly navigation and modifying various website elements. Also, you must ensure that every visual element has a suitable alternative text. Likewise, you need to adjust the color palette and typography to make your content easier to read.

This, in turn, means you have to hire a developer to modify your website’s source code. Or banking and financial institutions can adopt modern technology for accessibility, just like they have across their other business functions.

You should consider using web accessibility solutions like AccessiBe to make your business website ADA and WCAG compliant. AccessiBe uses AI and machine learning to automatically modify various website elements. From adding alt text for images to implementing keyboard navigation – it automates the entire process to make your website accessible and ADA compliant.

In today’s day and age, accessibility is as integral to website development as security, speed, responsiveness, and user-friendliness. Accessible and inclusive website design doesn’t just make your financial services website ADA compliant. Instead, it helps your financial institution stand out from the crowd.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
NewsLo

Previous Article
financial instruments
  • Business
  • Finance

Top Financial Instruments You Can Trade

  • February 12, 2021
  • NewsLo
View Post
Next Article
good insurance
  • Insurance

5 Types of Insurance You Need in Life

  • February 19, 2021
  • NewsLo
View Post
You May Also Like
send money
View Post
  • Finance

How To Send Money To Your Family When You Are Deployed

  • NewsLo
  • March 14, 2021
loved one
View Post
  • Finance

3 Ways To Help Your Elderly Loved One Protect Their Money

  • NewsLo
  • March 8, 2021
Financial Services Website
View Post
  • Finance

Is Your Banking and Financial Services Website Compliant with the ADA?

  • NewsLo
  • February 16, 2021
financial instruments
View Post
  • Business
  • Finance

Top Financial Instruments You Can Trade

  • NewsLo
  • February 12, 2021
tax tool
View Post
  • Taxes

Here Are 4 Free Online Tax Tools for You

  • NewsLo
  • February 7, 2021
Spy Camera
View Post
  • Business
  • Technology

Tips To Choose The Best Spy Camera

  • NewsLo
  • February 5, 2021
UX strategy
View Post
  • Technology

How to Create a Quality UX Strategy for Your Website

  • NewsLo
  • December 20, 2020
Surprising Minnesota Supreme Court
View Post
  • Law

Surprising Minnesota Supreme Court 2nd Amendment Unanimous Decision

  • NewsLo
  • December 16, 2020

Leave a Reply Cancel reply

You must be logged in to post a comment.

NewsLo 📊
  • Today’s Headlines
  • Featured
  • US
  • Politics
  • World
  • Media
  • Sports
  • Privacy Policy

Input your search keywords and press Enter.