Accessibility in banking and payments, Sally Chalk, CEO, SignapseAI & Thomas Götz (TG), Director of Managed Issuance Services, G+D

By Gloria Methri

Security technology company Giesecke+Devrient (G+D) has entered into a partnership with Signapse AI – a UK-based company that offers automatic sign language translation for websites using generative AI

Sally Chalk (SC), CEO and Co-Founder of SignapseAI, and Thomas Götz (TG), Director of Managed Issuance Services, in the financial platforms segment of G+D, discuss their partnership and the importance of inclusivity and accessibility in payment and banking services

SC: “First, legislative requirements are growing. The European Accessibility Act, which aims to guarantee equal access to digital products and services across Europe, will become law in all EU member states next year. This act, and other emerging legislation, mandate private sector organisations to improve accessibility for both physical and digital services. It means banking and payments products and services are also required to comply with the regulations.

“Second, technological advancements have made these changes easier to carry out. In the 1970s, making services accessible was cumbersome and difficult. The technology was simply not available to make it happen elegantly, and barriers naturally arose. Today, however, we have the capabilities to make financial services more accessible, so the opportunity is there.

“Third, accessibility reduces risks for financial services firms by ensuring all customers, regardless of disabilities, can make informed financial decisions safely and independently. There is a significant risk involved if people do not understand the terms and conditions of financial products, such as loans or bank accounts, both financially and in terms of reputation.

“Accessibility is also crucial because it brings enhanced customer engagement. Accessible services delight customers, differentiating financial institutions from their competitors and driving up customer loyalty and market share.”

TG: “We are seeing a growing understanding in the payments and banking industries that organisations need to be inclusive and respectful of all their employees and customers. In line with this, it is important that financial services are designed to cater to everyone, including people with disabilities. Technology can bridge the existing gaps and is now making it feasible for financial institutions to deliver accessibility and show inclusivity and respect to all.”

How do you view the current state of accessibility in banking and financial services?

TG: “It is a bit of a ‘mixed bag’ at the moment. On the one hand, there is a growing range of advanced technologies available that can help people with disabilities. On the other hand, implementation varies greatly between institutions. People within the industry are often eager to help deliver enhanced accessibility but, as it is outside their own direct experience, they are not always aware of the real problem until it is directly explained to them. That’s why it is important to involve people who have impairments or disabilities themselves in technology development and in design right from the beginning.

“Accessibility needs are diverse and require tailored solutions. As someone with multiple sclerosis, I may struggle on occasion to hit the correct buttons when entering my PIN at cash points or in card machines. This is particularly challenging because you only get three attempts before the transaction is refused. Small prints on cards or on displays can also be difficult for those with visual impairments, for example.

“Beyond these specific areas, the industry needs to adopt a holistic approach, to ensure every part of the customer journey is accessible from the physical branches to the digital interfaces and even the customer service protocols.”

SC: “The banking industry is advanced in terms of accessibility compared to other sectors like pensions, for instance. Banks have good functionality and security measures in place. However, there is still work to be done. Many onboarding processes are still not userfriendly for people with disabilities and there is room for improvement in ensuring that all written and digital communications are accessible and easily understood by everyone.”

What practical steps can be taken now to improve accessibility in financial services?

SC: “There are many cost-effective and easy-to-implement solutions financial services organisations could look to introduce quite quickly. From the perspective of the deaf community, awareness training for staff ensures they understand the challenges faced by deaf customers. This is a large community with diverse needs. This training therefore needs to be comprehensive and can include understanding basic sign language.

“Additionally, making websites and marketing materials more accessible by using clear, simple language and including sign language options can greatly enhance the user experience. Another practical step is to ensure that all digital content is compatible with screen readers and other assistive technologies. By staying current with technological advancements and integrating accessible solutions, such as real-time captioning in videos and text alternatives for audio content, we can make a significant difference.”

TG: “It’s important to recognise that accessibility is not one-size fits-all. Organisations should start by implementing small, impactful changes. Everyone has unique needs, and solutions should be tailored accordingly. For instance, providing tactile markers on cash machines or offering documents or bank cards can be a starting point. Subsequently, text in multiple formats (e.g. large print, Braille) caters for different needs. Financial institutions should also seek feedback from their disabled customers to continuously improve their services. Engaging with these customers directly can provide valuable insights and help prioritise the most critical accessibility improvements.

“I’d highlight the fact that cultural and leadership challenges must be addressed, with leaders championing accessibility initiatives and fostering an inclusive culture. I believe that the vision of accessibility, inclusivity, and commitment to delivering this to customers must start at the top and extend throughout the entire organisation.”

What’s the significance of the partnership between your companies?

SC: “Our partnership is rooted in shared values and a vision to enhance accessibility in financial services. Our joint efforts aim to reduce risks for financial institutions, increase operational efficiency, and ultimately delight customers.”

TG: “By fostering the collaboration of subject-matter experts, we can create comprehensive solutions that address the diverse needs of all customers. Our joint goal is to combine payment ecosystem knowledge with accessibility technology to create intuitive, user-friendly solutions.

What’s the future of banking and payment services in terms of inclusivity and accessibility?

TG: “The future of banking and payment services must be built on the principle of inclusivity by design. This means integrating accessibility features into every stage of product development: from conception to deployment. Technology will continue to play a crucial role, with advancements in AI and machine learning providing new ways to support and enhance accessibility. Our goal overall, however, is to create a payment ecosystem where accessibility is a given, not an afterthought. We envision a future where all customers, regardless of their abilities, can easily access and manage their finances with confidence and independence.”

SC: “Accessibility in financial services will become the norm, rather than the exception. By prioritising accessibility and fostering an inclusive culture, financial institutions can set a new standard for customer service and create a more equitable financial landscape. Furthermore, as more institutions adopt these practices, it will set a precedent, encouraging others to follow suit. This ripple effect has the potential to lead to a more inclusive society overall, where accessibility is ingrained in all aspects of life, not just in financial services.”