A study by TestDevLab analyzed 100 of Europe’s largest fintechs and found that only 31% fully meet basic web accessibility requirements regarding keyboard navigation and focus visibility. 51% of surveyed fintechs met requirements partly, with features that are not entirely accessible, available, or intuitive. The remaining 18% could not be analyzed due to various reasons.
The study was conducted in the runup to the establishment of the European Accessibility Act, an EU directive that will come into force on June 28, 2025. It demonstrates that despite the act coming into effect soon, many fintech companies are unprepared.
The study reviewed the home pages of multiple banking and fintech companies, examining whether interactive elements were navigable via keyboard.
The study reviewed the home pages of multiple banking and fintech companies to ascertain if users can navigate them only using a keyboard – a basic requirement defined by the Web Content Accessibility Guidelines. The analysis focused on things like how easy it is to move around the page, if each element that receives keyboard focus has a visible focus indicator so that users can understand where they are, whether there are any issues with focus moving to invisible elements, if the keyboard allows users to move through the page in a logical order, and if users can easily close any content that appears over the keyboard focus, such as website popups.
The directive aims to ensure that online experiences, such as websites and mobile apps, are available to people with a variety of disabilities. An estimated 100 million Europeans have web accessibility limitations, which is 1 in 4 Europeans.
One study showed that accessibility and user improvements can significantly boost a company’s revenue, bringing back approximately €90 euros for every €1 invested. Despite that, many websites do not meet even the basic accessibility standards.
Fintech companies are on the cutting edge of technology while simultaneously offering financial services. Their ability to ensure accessible online experiences is crucial to foster financial inclusion. However, with 70% of fintech platforms failing to meet basic accessibility requirements, people with disabilities are being marginalized, thus contributing to a widening tech accessibility gap.
