Disabled consumers not sharing support needs with financial services firms

More than four in five disabled consumers have not shared their support needs with financial services firms when accessing essential services, according to new research from Experian.

A study found that 85% of disabled consumers as well as those with support needs said they had not explained to their bank or building society how they could be better supported when interacting with them – a trend repeated with credit card (90%) and pension providers (91%).

For those that have shared their support needs, Experian reported that seven in 10 (70%) are satisfied with the extra support they receive – demonstrating that the support can be put in place once organisations are aware of people’s needs.

The new findings come amid calls from disability experts and campaigners for contributions to a new community driven, open-sourced website which aims to improve accessibility for people when dealing with businesses and other organisations.

The Support List has been created in recognition of the challenges faced by those with additional support needs. It has been driven by disability and accessibility specialists, Dan Holloway and Chris Fitch, and has been informed by the lived experiences of more than 1,400 disabled people and those with additional support needs.

Those behind the project, including main sponsor Experian and other firms including Lloyds Banking Group, NewDay, HSBC, Co-Operative Bank and Tesco Bank, are hoping members of the disabled community will share their experiences to allow the Support List to expand its guidance, allowing it to incorporate a wider range of support needs over time.

“As disabled people we are used to having to repeat often highly personal, information to every organisation disabled people deal with, just to be able to access services others take for granted,” said co-convenor of the Futures Thinking Network at The Oxford Research Centre for the Humanities, Dan Holloway. “We hope that this project will help break the cycle of exhaustion and trauma that has such a disastrous impact on our lives.”

Consumer Vulnerability Lead at the Money Advice Trust, Chris Fitch, said: “Firms have a legal, regulatory, and business imperative to make changes that allow disabled and vulnerable consumers to access and use their products and services.  Support List connects firms with people – so firms can understand the changes people need, and disabled and vulnerable people can change the way firms understand their needs.”

The list is intended to be a publicly available starting point to promote dialogue between disabled people and those with additional support needs, and businesses looking to support the needs of their customers in delivering products and services.

Experian indicated that it will expand over time to cover more disabilities, vulnerabilities, and circumstances, informed by the lived experiences of contributors, and then tested by organisations to see how readily they can be put in place.

“I am proud that Experian has played a role in supporting the creation of the Support List resource over the past year,” added Experian UK&I managing director, digital consumer information, Paul Speirs. “We hope the website will act as a catalyst for knocking down barriers that are faced by disabled and vulnerable people every day.”

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