Explore the latest strides toward making banking accessible for everyone
Westpac NZ has recognised the need for significant improvements to make banking services more accessible for disabled New Zealanders.
A recent report by ThinkPlace, commissioned by Westpac, revealed that nearly one in four New Zealanders face challenges accessing banking services due to disabilities, emphasising the impact on their daily lives.
Findings from the disability and inclusion in banking report
The Westpac NZ Disability and Inclusion in Banking Report highlighted the experiences of individuals with various disabilities, including issues related to vision, hearing, mobility, social interactions, and cognitive understanding.
Catherine McGrath (pictured above), Westpac NZ CEO, expressed the critical nature of accessible banking services.
“Having difficulty accessing banking services can have a profound impact on someone’s life,” McGrath said.
She detailed the severe consequences of inaccessible banking, from difficulties in securing housing and employment to increased vulnerability and social isolation.
Key challenges identified
The Westpac NZ research identified several barriers that prevent disabled customers from fully utilising banking services, including complex identification processes, limited choices in banking methods, physical and digital access challenges, and insufficient staff training on disability awareness.
McGrath stressed the urgency of addressing these issues.
“Around 1.1 million New Zealanders identify as having a disability... It’s vital banking and a range of other industries improve accessibility,” she said.
Initiatives for better accessibility
In response to the findings, Westpac NZ has launched several initiatives:
- Introduction of new Mastercard cards designed with identification notches, braille, and large-print numbers.
- Upgrades to the Westpac One banking app to enhance navigability and intuitive use, with specific design inputs from people with accessibility needs.
- Collaboration with the Hidden Sunflower Programme to better recognize and assist customers with hidden disabilities.
- Development and deployment of new training modules focused on inclusive design and accessible communications for all employees.
Legal and regulatory improvements
McGrath also discussed ongoing efforts to negotiate with regulatory bodies for more flexible identity verification processes to accommodate disabled customers better.
With anticipated reforms to New Zealand’s anti-money laundering rules, Westpac aims to lead by promoting more inclusive practices across the industry.
Ongoing commitment to inclusion
Westpac NZ’s efforts reflect a broader commitment to enhancing accessibility and inclusion within the banking sector.
“Ultimately, better accessibility is a win for everyone,” McGrath said.
The bank continues to advocate for and implement changes that make banking simpler and more accessible, ensuring that all customers, regardless of their abilities, can engage fully with their financial services.
Access the Westpac NZ media release.
