Exploring Section 508 Guidelines in FinTech
In the past few years, technology has brought profound transformation to the financial industry. The way individuals access and manage their finances has changed entirely. Even businesses operating within the financial ecosystem are leveraging technology.
The adoption of digital payment has accelerated, mobile banking app downloads are increasing, the emergence of blockchain technology has become popular across the finance industry, and even AI-driven investment strategies are gaining popularity. To put it simply, the term "FinTech" has become a buzzword.
With over 1.3 billion adults gaining access to financial services between 2011 and 2020, it can be said that technology has played a crucial role in increasing financial inclusion. Despite this monumental shift, it's evident that the comprehensive integration of Section 508 compliance guidelines remains insufficient within the realm of FinTech applications.
Technology can be a minefield for the 20% disabled population which needs assistive technology. Hence, FinTech companies must ensure that their innovations align with the principles of inclusivity. It can be done by exploring the scope of Section 508 in FinTech applications. Let’s discuss the importance of accessibility in the FinTech landscape and find out the correct strategy for section 508 compliance testing.
Why is it crucial to have Section 508 compliant FinTech applications?
Imagine someone with a visual impairment trying to use a banking app. Without accessibility, they might struggle to read the screen, make transfers, or manage their accounts. This is why accessibility holds a key role in the fin-tech landscape.
FinTech apps are changing how we manage our money. Nevertheless, Accessibility ensures that FinTech apps can be used by everyone, regardless of their abilities. Here are some examples showing the importance of adhering to Section 508 accessibility guidelines.
Legal and Ethical Responsibility:
Section 508 compliance is a legal requirement for federal agencies and institutions receiving federal funding. Failedcompliance could result in actions that go beyond financial implications. Legal actions taken due to non-compliance can tarnish a company's reputation and may also affect its financial stability.
Thinking Ahead:
Thinking of accessibility right from the start of developing the FinTech application is beneficial. Consider simple language, clear labels, and compatibility with screen readers. This way you can develop a top-rated app without any hitches.
Smart Business Move:
The more people who can use your app, the more customers you gain. An app that's easy for everyone means more success for your business. Companies can attract a larger customer base, including people with disabilities.
Future-proofing:
Section 508 compliance also safeguards FinTech apps against becoming outdated or obsolete. When an app is not developed by keeping the accessibility concept in consideration, it may become incompatible with emerging assistive technologies.
Applications of Section 508 in the FinTech landscape
The Rehabilitation Act's Section 508 requires that electronic and information technology is usable by people with disabilities. So, your financial services need to be available to everyone, including those with disabilities. Here are the crucial applications Section 508 guidelines for FinTech products:
- User interface design
- Navigations
- Multimedia content
- Data visualization
- Forms and inputs
- PDFs
- Page structure
- Testing and validation
Conclusion:
Integrating accessibility into the core of fin-tech applications extends equal access to all users, regardless of their abilities. However, the journey doesn't end with integration; it continues with rigorous and regular testing. With thorough accessibility testing, encompassing automated tools and manual assessments, you ensure compliance with standards like Section 508.
To embark on this transformative journey, partner with Accessibility Experts at ADACP. Our proficiency in Section 508 testing will fortify your commitment to an accessible and equitable fin-tech landscape. Contact us today for detailed evaluation of Section 508 compliant websites and applications.
In the past few years, technology has brought profound transformation to the financial industry. The way individuals access and manage their finances has changed entirely. Even businesses operating within the financial ecosystem are leveraging technology.
The adoption of digital payment has accelerated, mobile banking app downloads are increasing, the emergence of blockchain technology has become popular across the finance industry, and even AI-driven investment strategies are gaining popularity. To put it simply, the term "FinTech" has become a buzzword.
With over 1.3 billion adults gaining access to financial services between 2011 and 2020, it can be said that technology has played a crucial role in increasing financial inclusion. Despite this monumental shift, it's evident that the comprehensive integration of Section 508 compliance guidelines remains insufficient within the realm of FinTech applications.
Technology can be a minefield for the 20% disabled population which needs assistive technology. Hence, FinTech companies must ensure that their innovations align with the principles of inclusivity. It can be done by exploring the scope of Section 508 in FinTech applications. Let’s discuss the importance of accessibility in the FinTech landscape and find out the correct strategy for section 508 compliance testing.
Why is it crucial to have Section 508 compliant FinTech applications?
Imagine someone with a visual impairment trying to use a banking app. Without accessibility, they might struggle to read the screen, make transfers, or manage their accounts. This is why accessibility holds a key role in the fin-tech landscape.
FinTech apps are changing how we manage our money. Nevertheless, Accessibility ensures that FinTech apps can be used by everyone, regardless of their abilities. Here are some examples showing the importance of adhering to Section 508 accessibility guidelines.
Legal and Ethical Responsibility:
Section 508 compliance is a legal requirement for federal agencies and institutions receiving federal funding. Failedcompliance could result in actions that go beyond financial implications. Legal actions taken due to non-compliance can tarnish a company's reputation and may also affect its financial stability.
Thinking Ahead:
Thinking of accessibility right from the start of developing the FinTech application is beneficial. Consider simple language, clear labels, and compatibility with screen readers. This way you can develop a top-rated app without any hitches.
Smart Business Move:
The more people who can use your app, the more customers you gain. An app that's easy for everyone means more success for your business. Companies can attract a larger customer base, including people with disabilities.
Future-proofing:
Section 508 compliance also safeguards FinTech apps against becoming outdated or obsolete. When an app is not developed by keeping the accessibility concept in consideration, it may become incompatible with emerging assistive technologies.
Applications of Section 508 in the FinTech landscape
The Rehabilitation Act's Section 508 requires that electronic and information technology is usable by people with disabilities. So, your financial services need to be available to everyone, including those with disabilities. Here are the crucial applications Section 508 guidelines for FinTech products:
- User interface design
- Navigations
- Multimedia content
- Data visualization
- Forms and inputs
- PDFs
- Page structure
- Testing and validation
Conclusion:
Integrating accessibility into the core of fin-tech applications extends equal access to all users, regardless of their abilities. However, the journey doesn't end with integration; it continues with rigorous and regular testing. With thorough accessibility testing, encompassing automated tools and manual assessments, you ensure compliance with standards like Section 508.
To embark on this transformative journey, partner with Accessibility Experts at ADACP. Our proficiency in Section 508 testing will fortify your commitment to an accessible and equitable fin-tech landscape. Contact us today for detailed evaluation of Section 508 compliant websites and applications.
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