Financial Inclusion Action Plans (FIAP)

Financial Inclusion Action Plans (FIAP)

Latest FIAP news


Three million people in Australia are severely or fully excluded from financial institutions and their banking and insurance products. Financial exclusion places people and their families at risk of financial hardships. This can lead to poverty, vulnerability to predatory lending practices and poor social, emotional and health outcomes.

In 2015 Australia committed to financial inclusion by agreeing to international obligations including the G20 Financial Inclusion Action Plan and the United Nation’s Sustainable Development Goals. As part of this commitment, the Australian Government appointed Good Shepherd Microfinance to develop a Financial Inclusion Action Plan (FIAP) program.

The FIAP program provides an opportunity for organisations to take real action to realise financial inclusion – especially for women.  The program has been developed in partnership with the Australian Government, EY and the Centre for Social Impact and is also supported by an Advisory Group of experienced professionals from across the government, corporate and community sectors.

Why is financial inclusion important?

The innovation of a modest group of 30 Trailblazer organisations embedding committed actions into business as-usual-practices, could contribute towards:

  • A GDP uplift of $2.9 billion,
  • Government savings of $583 million
  • Increased household wealth of $11.8 billion per annum [1]

What is a FIAP?

A FIAP is an agreed strategy of practical actions that an organisations will undertake to improve financial inclusion in Australia. A FIAP provides an opportunity for these organisations to take real action to enable financial inclusion and resilience.

Together with Good Shepherd Microfinance, organisations are able to put together a series of measurable actions that commit to financial resilience for their staff and clients.

Download FIAP reports:

From Foundations to Actions: Program Report March 2018

From Foundations to Actions: Action Plans March 2018

Collective Actions, Leading Change: Launch Report November 2016

30 trailblazer organisations taking action

Thirty organisations (FIAP Trailblazers) joined Phase One of this program – together they employ over 250,000 people and have almost 80 percent of the Australian population as customers.

FIAP participants make genuine commitments to take action, and having undertaken Evaluation and Quality Assurance at the end of Phase One, we now have evidence that the FIAP framework is effective. Together, the FIAP Trailblazers have committed over 580 actions to realise greater inclusion and resilience for vulnerable groups in their own sphere of influence. 72 percent of the 240+ actions committed by the first twelve Trailblazers in 2016 have been completed, with a further 21 percent currently underway.

 


[1] SPP (2016). Economic Modelling for FIAP Program Implementation Team, November 2016

Latest News from Financial Inclusion Action Plans (FIAP)

12 May 2017

A Mother’s Story of Resilience

The events that trigger the biggest changes in our lives are often the ones we’ve never prepared for. Shocks like a job loss, a sudden illness or an accident can impact our ability to work, earn an income and look after our families.

Laura and her husband, Peter, have three children - Vivian 9, Anthony 6 and Lily 3. Overnight their seemingly perfect family was thrown into turmoil in the face of an unexpected crisis.

Read More

26 May 2016 Media Release

Resilient women the focus of new national program

The FIAP program invites organisations to turn good intentions into action that works by collaborating across sectors to improve financial inclusion for everyone.

Read More

7 December 2016

Resilient Women 2016: A leadership summit to build women’s financial resilience

A leadership summit to build women's financial resilience, Resilient Women covered issues including; financial resilience and inclusion, how networks, products, income and capability, and overcoming financial exclusion and abuse.

Read More

25 November 2016 Media Release

Collective action on financial inclusion can generate an annual $2.9 billion in GDP

Twelve trailblazing organisations have publicly released their Financial Inclusion Action Plans, detailing specific steps they will take to improve financial resilience for large numbers of people experiencing financial exclusion, especially women.

Read More

No one sector can create a more equitable, resilient, financially inclusive Australia acting alone. It is only by bringing together the private, government, education and the not-for-profit sectors that we can truly work towards holistic solutions.

Delia Rickard, Independent Chair Financial Inclusion Action Plan Advisory Group