How inclusive design strategies can transform Sri Lankan banking experience

Sri Lanka’s digital banking market is projected to reach $ 1.21 billion by 2029, but there’s a substantial customer segment that remains largely untapped. Whilst banks focus on attracting tech-savvy millennials, they’re overlooking 1.6 million people with disabilities and 12.3% of the population aged 60 or older, demographics that represent not just social responsibility, but significant revenue potential.

- By Nisal Tharanga

Consider this: a successful businessman in Colombo with visual impairment struggles to complete basic banking transactions online, eventually switching to a competitor with better accessible services. His frustration isn't unique — it represents a systematic failure to capture market share from underserved customer segments.

The business case for inclusive banking design isn’t about charity — it’s about revenue growth. When banks create accessible digital experiences, they unlock new customer acquisition channels while reducing operational costs. The numbers speak for themselves: digital self-service transactions cost $0.10-0.50 compared to $ 5-15 per call centre transaction, offering potential cost reductions of 50-70%.

The challenge extends beyond accessibility for disabled customers. Consider a rice farmer from Anuradhapura attempting to understand a loan application filled with terms like “principal repayment schedule” and “collateral valuation procedures.” Even in Sinhala, these banking descriptions sound more like legal documents than everyday conversation. This customer abandons the application, not because they can’t afford the loan, but because they can’t navigate the language. In today’s interconnected world, people with disabilities — whether visual, hearing, motor, or cognitive — need to engage with banking services just like everyone else. They’re not seeking special treatment; they’re seeking equal access to financial products that enable them to participate fully in the digital economy. The proportion of Sri Lankans above 60 years will increase from 14% in 2017 to 22% by 2037. This ageing population, combined with the existing disability market and rural customers struggling with complex language, creates a customer base that forward-thinking banks can capture through strategic design improvements.

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