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What is WCAG? The acronym stands for Web Content Accessibility Guidelines, which include a set of technical standards for websites and applications. It has recently been updated to version 2.2 and is divided into three types: A, AA, AAA, each representing a higher level of accessibility. Do you want to learn more? Keep reading!
Table of Contents
- What Are Web Content Accessibility Guidelines (WCAG)?
- What Is the Role of WCAG?
- What Is WCAG Compliance?
- WCAG from the Finance Perspective
- The Takeaway
What Are Web Content Accessibility Guidelines (WCAG)?
Web Content Accessibility Guidelines are a set of standards designed by the World Wide Web Consortium that ensure people can access digital content despite disabilities or other impairments. First released on May 5, 1999, WCAG has been evolving ever since, with Web Content Accessibility Guidelines 2.2 being the latest version of the standards, coming live in June 2025.
What Is the Role of WCAG?
Web Content Accessibility Guidelines are designed to help people navigate websites despite their disabilities or impairments. It’s important to mention that their scope is broad – it does not involve only permanent, life-changing disabilities, but also smaller injuries. For instance, some guidelines will help you if you break your hand – the scope of WCAG is broad.
What Is WCAG Compliance?
WCAG compliance means that you follow the WCAG regulations. It can be achieved at three levels:
- A → basic,
- AA → strong,
- AAA → excellent.
From a disabled person’s perspective, most businesses inform on the level of accessibility in accordance with the WCAG regulations, which makes it easier for such people to decide whether to stay on a given page or in an app. Otherwise, they would face uncertainty – they could potentially stumble across elements that they can’t interact with due to their health conditions.
From your business perspective, WCAG is a set of tips on how you should design your website to make it accessible – technically, you don’t need to follow the Web Content Accessibility Guidelines. However, in practice, things are slightly different.
With the European Accessibility Act of 2024, you are obliged to maintain certain accessibility standards on your website – otherwise, users get the right to sue your company. The requirements mostly match the AA WCAG guidelines, so in the end, you want to read into this document and follow its guidelines. Naturally, this might not apply to you if you don’t operate in the EU.
WCAG from the Finance Perspective
People with disabilities are active participants in the economy – they need full access to banking, investments, and financial services just like everyone else. Ensuring digital accessibility by adhering to at least WCAG AA standards isn’t just an ethical responsibility for banks and financial institutions; it’s a critical business requirement. Failing to prioritize accessibility in your UX and UI design can exclude millions of potential customers, ultimately affecting user experience, compliance and revenue.
Regulatory Compliance and Financial Security
Staying compliant with European Accessibility Act (EEA) regulations protects financial institutions from legal risks and costly litigation. Non-compliance can result in severe penalties – up to 10% of an organization’s revenue – posing a serious financial threat. The financial sector is particularly at risk, as users frequently handle sensitive transactions that must be both secure and fully accessible.
Responsibility, Trust, and Competitive Advantage
Beyond legal requirements, embracing accessibility strengthens customer trust and brand reputation. Users are more likely to engage with organizations that demonstrate social responsibility – 80% of customers consider accessibility a key factor when choosing financial services. Prioritizing inclusive digital experiences fosters long-term customer loyalty and retention, setting your institution apart from competitors.
Do you need guidance or technical support meeting WCAG? Discover our digital accessibility services for finance and let us help you open your digital products to millions of users with disabilities!
Innovation Driving Growth
Digital accessibility is not just a compliance issue – it’s a growth driver. Implementing modern AI-driven accessibility solutions, voice assistance, and optimized UI/UX design improves the overall user experience for all customers, not just those with disabilities. This investment also unlocks new market segments – 40% of users in Europe currently face limited access to online financial services.
The Financial Potential of Accessibility
The European digital accessibility market is expected to reach $8.1 billion by 2025. By proactively integrating WCAG compliance, financial institutions can tap into this growing market, future-proof their services, and gain a competitive edge.
The Takeaway
What are Web Content Accessibility Guidelines (WCAG)? They are a set of recommendations for website and application design and development that aim to make digital content available to all people, including those with specific disabilities or temporary, movement-related injuries.
Accessibility in finance is no longer optional – it is an essential business strategy. It ensures regulatory compliance, reduces financial penalties, enhances brand credibility, and drives customer engagement. Embracing WCAG does not only mean avoiding risks by financial institutions; it also unlocks new revenue streams, improves user satisfaction, and strengthens their industry position.
Did you like this article? You may also read: Digital accessibility in the accelerating age.
