The Positive Effects of ADA Compliance in Banking and FinancePublished on
Americans with Disabilities Act (ADA) compliance in banking and finance was long considered a burden, not a benefit. But, following federal ADA laws can open the door to more people and increase your customer/client base.
Document accessibility gives your current and potential customers the information they need to take advantage of your offerings. From products and services to monthly financial statements, each piece improves the customer experience and deepens customer loyalty.
ADA compliance in banking and finance will connect you to your customers on a personal level. It enables all persons to be educated and involved in their financial, banking and investment choices. It also demonstrates a commitment to meet the needs of an individual client.
Banks and financial institutions have learned that people with visual impairments and blindness make up a large block of consumers and investors.
Related: We Have a Request for ADA Accessible Statements; Where Do We Start?
How big is this market?
This market is significant; comprised of 32.2 million Americans. When you look at the 2022 Vision Council Insights Report, you learn that an estimated 79% of American adults need to use a form of vision correction to see well.
Through accessible documents, you have an opportunity to capture a large segment of business by providing a great customer experience. And, appealing to a larger population often results in business growth and increased profitability.
With our aging population, more people are experiencing vision deficits and related disabilities. As a result, they are more dependent on large print, audio, braille, and accessible PDF documents.
How can ADA laws help my business?
A business is successful when it reaches as many people as possible with its goods or services. When a company follows ADA standards, it opens the door to millions of new customers. You give those customers the ability to receive and understand the benefits of doing business with you. This may seem silly, but if a retail location had no doors, people wouldn’t be able to purchase their goods. If your documents are not ADA compliant, you essentially remove the door to your building and shut out a significant market segment from your business.
While federal laws require that all organizations comply with ADA laws, businesses do not always take a proactive approach. This means that ADA standards are not a priority until someone files a complaint. This brings negative attention and damaging headlines. However, many businesses take pride in their accessibility and have attracted positive attention. As a result, many customers/clients (even those without a disability) feel positively toward the business.
A social conscience can make a difference in your marketing
Today’s consumers will choose a socially conscious business over one that seems focused only on profit. Showing that you care about every consumer will place your business in a new light to those without visual impairment or blindness. And, social media is a great way to get the word out to your current and potential customers that you care about everyone by offering accessible documents.
Braille Works has helped financial and banking institutions remain ADA compliant since 1994. We understand that ADA compliance in banking is more than just a one-size-fits-all solution. Contact us today to assist in your accessible document needs.
Originally published February 26, 2015.
Categorized in: Accessibility, Banking, Government, Informational, Technology
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