Why finance brands need to consider inclusive design
The world is diverse, with customers having a wide range of abilities and needs. In fact, around 15% of the world (1 billion people) live with a disability. Inclusive design aims to address and create a user experience that caters for the unique requirements of visual and physical disabilities, low-income groups, the old, and people who speak another language. New research has revealed inclusive design can expand customer reach fourfold, highlighting how catering to the needs of every customer can generate meaningful leads and improve brand loyalty and customer acquisition. Inclusive design doesn’t have to be difficult to achieve, instead it’s about understanding customers abilities and reflecting it within your UX design.
Making finance inclusive
The financial sector can be highly competitive with hundreds of finance brands vying for the same customers. Creating a design experience that’s inclusive means your finance brand can generate meaningful leads from the widest pool of consumers. Not only that, but inclusivity can set your finance brand apart from the competition, gain consumers’ trust and build brand loyalty with customers that have never previously had products catered to their unique circumstances.
According to research by PwC, “Inclusive design enables organisations to increase their revenue by growing the size of their target markets and reducing the need to make costly retrofits when products and services don’t meet the needs of excluded population groups. In turn, organisations can improve their brand reputation and recognition.”
Your finance brand shouldn’t assume a one size fits all approach for your digital experience. While it can be difficult to recognise and cater to all abilities and needs there can be a range of measures your finance brand can take that range from simple to more complex. Inclusivity is about centring the human user at the forefront and recognising everybody’s different.
Inclusive design enables organisations to increase their revenue by growing the size of their target markets…In turn, organisations can improve their brand reputation and recognition.
Inclusive design principles for every finance brand
At the core of it, your finance brand should engage with a variety of users in the design and creation stage to fully understand the unique requirements of consumers. Not all inclusive design elements will be obvious or easy to implement which is why your finance brands need to converse with the end-user.
However, there are a number of changes your finance brand can make today, to help create a more inclusive design. These include:
- Text-to-speech – This is to benefit those who are visually impaired.
- Translated digital experiences – This is to benefit people whose first language isn’t English.
- Plain language – This benefits all users but caters towards those whose first language isn’t English and low-income users who may be intimidated and confused by complex financial jargon.
- Not utilising colours to signify actions – This is to benefit users who are colourblind.
- Large buttons that are distinctive and operate logically – This benefits a variety of users but can be particularly useful for the elderly.
- Readable fonts that can be magnified – This can benefit a wide variety of people but particularly those who are visually impaired or the elderly.
Inclusive design benefits everyone
While inclusive design is catered to and created for edge consumers, people who don’t fit within the one size fits all approach, they benefit everyone. At its core, it’s about including everyone within your finance brand. Offering inclusive design principles provides users with more options and ways to manage their money. This provides greater flexibility and satisfaction with your financial products and services.
At the end of the day, inclusive design enhances the reach of your finance brand, helping to build trust, loyalty, and lead generation.