Research highlights inconsistent outcome 16.8m disabled consumers

A new report commissioned by Fair4All Finance and authored with PwC has found that although UK financial services providers have made progress in making products and services accessible over the last decade, disabled consumers continue to experience different levels of support depending on the provider they use, the product they need, the channel they choose and their individual circumstances.

As part of the research, financial services providers, disabled persons organisations, charities and lived experts were consulted, with their views informing the findings and recommendations.

Disability inclusion is a multi-faceted societal issue, and financial services play such an important role in people’s daily lives. Barriers experienced elsewhere in society can compound the challenges disabled people face when accessing financial services products, services and support. Despite the progress made in recent times, gaps can remain between good intentions and the outcomes experienced by consumers.

With 16.8 million disabled people in the UK and an estimated £274 billion in annual spending power, the report highlights a significant opportunity for the financial services industry to serve a large and diverse group of customers better.

The report outlined areas of focus that will improve consumer outcomes and strengthen trust. It showed that there is a structural gap in how third-party access is managed for disabled people who may need additional support. Current processes can leave limited options between complete independence and formal legal arrangements involving a greater transfer of control, meaning some customers rely on informal workarounds, such as sharing payment cards, PINs or passwords with carers or family members.

Digital services, when done well, enable greater independence and flexibility for many disabled people. However, the research finds that some digital journeys can create barriers. Rigid security protocols, two-factor authentication, complex verification processes and app redesigns can disrupt access for people using assistive technologies, or with particular support needs.

A review of 29 providers found that 23 had dedicated online accessibility pages or hubs, but only nine showed highly visible evidence of accessibility testing or co-design with disabled people, and seven clearly covered disability or accessibility in their public reporting.

Consistent implementation and appropriate guardrails are needed to make digital banking work for everyone. For some customers, this also means maintaining a choice between digital and non-digital channels.

The report finds that barriers can arise through the structural complexities of product decision-making. Stakeholders interviewed said that an individual’s circumstances may not always be fully captured during an application process and expressed a perception that automated decision-making can unintentionally lead to an underwriting model making inaccurate assumptions. This can lead to product declines or inflated premiums for disabled consumers, highlighting the need to understand how decision-making models affect disabled consumers and to provide clear explanations when applications are declined, premiums are increased, or cover is restricted.

Barriers also exist where benefit income is treated inconsistently. For example, some disability-related benefit payments are commonly accepted in mortgage affordability by the providers reviewed, while others are often excluded or deducted.

The report outlines clear priorities for action by financial services providers, alongside areas requiring wider collaboration with industry bodies, government, regulators, civil society and disabled people.

Kate Pender, Fair4All Finance CEO, said “Financial services are central to everyday life, yet a market that thrives for many continues to leave too many disabled consumers behind. Support across the sector remains deeply uneven, and visible commitments too often fail to translate into reliable, everyday outcomes. Designing an inclusive financial system is not just a social obligation, it is an untapped commercial opportunity that could deliver at least an additional £6.4bn annual boost to the UK economy.

“Disabled people deserve a better deal, which means moving permanently beyond reactive adjustments to ensure mainstream products and journeys work effectively for everyone across their entire lives.”

Howard Taylor, Director, PwC UK said “Disabled people frequently face higher day-to-day costs and lower average incomes, contributing to lower financial resilience, while also encountering barriers when accessing the products, services and support they need. While progress has been made in improving the availability and accessibility of financial services, there is more to do. Our report aims to strengthen the evidence base and makes recommendations to support further strengthening tangible action that would help improve outcomes for disabled consumers.”