Let’s build bridges, not barriers, for people with disabilities

By Paul Surreaux, Co-Founder – Barrier-Free Finance Initiative

People with disabilities (PWDs) make up 16% of the world’s population. Despite making up such a large group, most of us are unaware how PWDs struggle daily with barriers to accessing financial and other services, including physical accessibility, digital accessibility and stigma. Meanwhile, a lack of data on the financial needs of PWD and how to overcome these barriers to their financial inclusion is restricting policymakers from designing effective solutions, and keeping PWDs low on the agenda of financial service providers who could otherwise be serving this large market.

But we have reasons to be hopeful. Increasingly, both public and private actors see disability inclusion as an exciting opportunity to close the financial inclusion gap. At the same time, digital technologies are expanding access to products and services.

Central banks and regulators can play a pivotal role in accelerating progress by:

• Integrating disability inclusion into financial inclusion strategy and policies.
• Incentivizing tailor-made products and services for people with disabilities.
• Consulting with disability organizations to put together policies, products, and services.
• Mandating accessibility standards for financial services infrastructure.
• Preventing discrimination against people with disabilities and creating awareness about disability inclusion.

At Barrier Free Finance, we have created tools and methodologies for all financial stakeholders to engage in disability inclusion, whether by doing country assessments to identify the gaps, or designing effective policies and agendas. Our Disability Inclusion Scorecard methodology helps financial services providers and support organizations embed disability inclusion across their organizations. We are also working to strengthen collaboration between the financial inclusion sector and the disability sector. 

We are already seeing inspiring examples of policy from around the world. In places like Uganda, Egypt, Palestine, and Mexico, policies and guidelines have been developed that mandate disability inclusion and accessibility solutions. Bangladesh has incentivized financial services providers to eliminate eligibility criteria for people with disabilities to open bank accounts.

By working together on education, data collection, and disability inclusion solutions, we can break down the barriers that financially exclude people with disabilities, and transform them into bridges that will enable PWDs to access and use convenient and affordable financial services and contribute to their economic empowerment.