Study on risks and opportunities of digitalisation for financial inclusion : the perspective of vulnerable users in Estonia, Italy and UK with a focus on groups covered by the European Accessibility Act : final report

The digitalization of financial services presents an unprecedented opportunity to increase the financial autonomy of millions of vulnerable people across the European Union. Implemented carefully, with reference to their needs, digitalization can benefit vulnerable groups, society as a whole, and - not least - the financial services organizations, which stand to gain from attracting more customers. But vulnerable people are not currently benefiting from this digitalization as best practise design and specifications are not always followed. There appears to be a lack of commitment on behalf of the financial institutions to use this opportunity to benefit the most vulnerable in society. This report aims to describe how digitalization, in the form of online banking services, is affecting end-users in vulnerable groups. It was commissioned by the European Commission for the Financial Service User Group (FSUG) and examines the state of financial inclusion of vulnerable people in the United Kingdom, Estonia and Italy. The report deals with view of the end-users, in particular it presents detailed information from the point of view of people with disabilities given the current context of the European Accessibility Act. Relevant responses were received from a range of end-users and organisations of end-users. In particular detailed comments were received from end-users and organisations of people with a sensory impairment. The report focuses on the provision made by the financial sector for accessibility to services, in particular through ticket machines, Point of Sale machines (PoS terminals), Automated Teller Machines (ATMs) and personal devices such as mobile phones.