Increasing accessibility and inclusion remain significant priorities for many banks and financial institutions, although, many are still falling short of what is expected of them. However, new initiatives are coming across the globe, with the aim of making it easier for a far larger number of users to access banking services.
Monzo, the UK challenger bank, has partnered with SignLive, an online interpreting service for British Sign Language (BSL), to improve inclusivity for users who rely on BSL, enabling them to communicate with the bank’s customer support team through a fully-accredited interpreter, in real-time.
Other banks have also recently made efforts to better support deaf or hard of hearing customers, such as Spanish bank CaixaBank. The Valencia-based bank is piloting a new programme, dubbed ‘SVisual’, which enables its customers to receive information on financial services through a system of simultaneous video interpreting in sign language delivered by a qualified interpreter.
Meanwhile, bunq, Europe’s AI-powered bank, upgraded its AI assistant, ‘Finn’, introducing real-time speech-to-speech translation within its app.
Monzo supporting BSL
Around one in five people in the UK are either deaf or hard of hearing, meaning that BSL is the first language for tens of thousands of people. Because BSL has its own structure and vocabulary, switching to English can be extremely difficult or impossible.
SignLive, a deaf-owned and deaf-led business, aims to remove communication barriers for the community through accessible technology and services. As part of its commitment to accessibility and inclusion for its customers, Monzo is enabling them to access SignLive’s free services through its app or via the SignLive website.
Since its inception in 2014, SignLive now has over 118 skilled interpreters who partner with UK businesses to help their customers communicate with them in their first language, using video relay services.
Customers who create a profile on SignLive can log in and access a directory of UK businesses that offer interpretation services. It promises to not add any time or additional steps to customer calls, to enable Monzo to deliver the help they require as quickly as possible.
Diane Lightfoot, CEO of Business Disability Forum
Diane Lightfoot, CEO of Business Disability Forum, a business membership organisation in disability inclusion, explains why this is good news: “For many deaf people, BSL is their first language. It’s great to see banks, like Monzo, recognising this and changing the way they deliver their services to better meet the needs of disabled customers.
“Three-quarters of disabled consumers said that their disability and access needs influenced their choice of bank, to some extent, in research conducted by Business Disability Forum. Just over four in 10 said that having a range of contact options for customers was a key consideration when choosing a bank. We hope many other banks and financial institutions follow Monzo’s example.”
In-branch inclusion
Through its own inclusive services, CaixaBank says it aims to ensure financial inclusion in-branch. The bank also promotes ATM accessibility, with some of its machines featuring high-contrast screens, videos in sign language, as well as voice-guided options for the visually impaired.
Josep Parareda, director of social action at CaixaBank
Josep Parareda, director of social action at CaixaBank, explains the importance of these initiatives: “CaixaBank advocates for accessibility in its broadest sense, not only offering customers all the possible channels to access our services but also by working to ensure these can be used by the largest number of people. Our work has therefore led us to eliminate as many physical and sensorial barriers that may prevent people with disabilities from accessing our facilities, products and services.
“Accessibility is essential for ensuring financial inclusion, and our social banking team has worked to do so through accessible POS terminals, inclusive finance, insertion accounts and most recently, our SVisual service, which allows customers to receive information on our financial services through simultaneous video interpreting in sign language delivered by a qualified interpreter in 120 of our branches.
“We plan to extend this service across our entire network in the first quarter of 2025, taking a further step forward in our commitment to financial inclusion in-branch.”
AI-enabled accessibility
Elsewhere, bunq is instead focusing its efforts on increasing the number of languages it supports. Through the latest enhancements, its AI assistant, Finn, can now instantly translate both the user’s speech and the support agent’s responses, when users call the bank through its app.
By enabling users to converse in their first language, the bunq app translates their voice and the responses of the bunq support guide in real-time, ensuring a smooth conversation without the need for external translation apps.
The bunq app itself is now available in more than 30 languages, thanks to Finn’s AI-driven capabilities. Users can navigate the app in their preferred language, and Finn will also ensure that messages from support maintain a customer-friendly tone. Additionally, users can provide feedback on translations, helping Finn continuously improve through every user interaction.
Are banks doing enough?
Although these examples highlight the tangible progress in making banking services more accessible regardless of a user’s first language, there is still a long way to go.
Jas Shah, fintech product consultant
Jas Shah, fintech product consultant, commended Monzo and bunq’s move but noted: “While initiatives like bunq’s and Monzo’s are great, they remain exceptions rather than the rule. Accessibility in banking often feels like a reactive measure rather than a proactive commitment. Too many financial institutions view accessibility as an optional add-on rather than a core component of their strategy.
“That being said, Monzo has been quite the pack leader when it comes to digital banking innovation, so my hope is that banks see the Monzo and bunq examples, look at the incoming EU Accessibility Act and take a proactive approach to creating accessible, inclusive products by embedding inclusive research, strategy and design processes into the product development processes. In turn, this has been shown to increase profits and revenue vs non-inclusive competitors, whilst, more importantly, proving extremely valuable to end customers.”
Significant barriers remain
Raman Korneu, CEO and co-founder of myTU
“These initiatives alone do not fully address the broader challenges of financial inclusion, explains Raman Korneu, co-founder and CEO at myTU, the mobile banking app licensed by the Bank of Lithuania. “Let’s consider, as an example, migrants’ access to banking. Whether digital nomads, refugees, or undocumented individuals, they are often viewed as high-risk customers. Many traditional banks and fintechs are still behind in providing equal access. These underbanked people face significant barriers, such as unclear regulations and distrust of banks.
“Migrants often lack standard documentation, such as proof of residency or utility bills, required for account verification. Language barriers, limited financial literacy, and distrust of financial institutions further exacerbate the issue.”
Lightfoot also adds: “Information on accessibility is often difficult for disabled consumers to find – it needs to be promoted prominently and proactively. The experience of disabled consumers also relies heavily on the confidence and attitude of the staff they come into contact with and embedding inclusion to get it right consistently is a challenge in an organisation of any size. All banking products and services must be designed inclusively and that means involving customers with the widest range of lived experience from the start.”
The inclusivity domino effect
David O’Hearns, founder and MD at Dawn
Despite these shortcomings, it’s not all doom and gloom. David O’Hearns, founder and MD at creative agency Dawn, believes that the likes of the initiatives to improve accessibility by Monzo, Caixabank and bunq could cause a domino effect for inclusivity efforts elsewhere.
“History shows that when innovation becomes successful, it sets a standard others follow. Think touchscreen phones or electric vehicles. Banks adopting accessibility features like BSL interpreters or multi-language support could similarly pave the way for widespread inclusivity. Early adopters often lead by example, inspiring competitors to improve. However, timing is crucial. Some brands integrate inclusivity early as a core value, while others lag behind, missing opportunities to connect with their audience.
“Accessibility isn’t just a moral imperative; it’s also a strategic business advantage. The industry should embrace inclusivity not as an afterthought but as an integral part of its evolution, creating tailored experiences aligned with brand values.”
Accessibility ‘is both achievable and commercially beneficial’
Joanne Dewar, founder of Project Nemo
Joanne Dewar, lead at Project Nemo, the 12-month campaign sharing compelling stories through films and podcasts to educate the UK’s fintech industry on disability inclusion and inspire meaningful action, also shares a positive outlook:
“It’s great to see that Monzo and bunq see the value and importance of enhancing their accessibility. They’re proving that addressing diverse customer needs is both achievable and commercially beneficial.
“Building accessibility into our products and services is a journey. To ensure as many people as possible can access them it’s good that we celebrate each step forward. In Project Nemo’s recent film series, individuals share their diverse accessibility needs stories, which firms in our industry can use to drive greater accessibility.”
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