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.

40 member organisations taking action

To date, 40 organisations have joined the FIAP program – together they employ over 250,000 people and have almost 80 percent of the Australian population as customers. Together, the FIAP Trailblazers have committed to over 630 actions to realise greater inclusion and resilience for vulnerable groups in their own sphere of influence. 87% of actions are either completed or underway, according to evaluations undertaken by EY Australia.

New Partners

The following organisations have joined the program in 2019 and are currently developing their Financial Inclusion Action Plans:

Previous Reports

 

Latest News from Financial Inclusion Action Plans (FIAP)

21 June 2017 Media Release

30 Organisations Join Forces To Enable Financial Inclusion For Three Million Australians and Boost GDP

The number of organisations committed to driving inclusion and resilience for over three million adults who are experiencing financial exclusion in Australia has today risen to 30, with a range of actions underway to support those in need. One in every two Australians has limited or no savings, and a quarter report having experienced difficulties accessing financial services.

Through individual Financial Inclusion Action Plans (FIAPs), the 30 organisations, which include essential services providers, professional services firms, banks, universities and government agencies, are working towards measurable actions that will create a more financially inclusive community. The various initiatives range from improved access to appropriate and affordable financial products and services; development of early warning indicators to identify vulnerability; and support to those experiencing family violence avoid financial hardship. Read more.

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20 March 2018 Media Release

Leaders rally for millions of people feeling the pinch

The Financial Inclusion Action Plan (FIAP) program launches its Phase One Completion Report: From Foundations to Action.

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7 July 2017

Shifting the Dial on Financial Inclusion and Resilience for Indigenous Consumers

As the 60th anniversary of the NAIDOC week celebrations rolls in, it is timely to reflect that despite isolated pockets of success, much remains to be done to realise Indigenous inclusion in Australia.

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25 November 2016

Financial exclusion in Australia: whose problem is it to solve?

On International Day for the Elimination of Violence against Women, leaders from the government, business, education and the community sectors come together to announce Financial Inclusion Action Plans, detailing specific steps they will take to improve financial inclusion and resilience.

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Our impactful programs

I think we all want a fairer and more equal society. FIAPs create the opportunity for organisations across all sectors to collaborate and contribute to improving the financial inclusion, resilience and wellbeing of those Australians who are less advantaged. By measuring the impact of our actions and sharing the learnings about which initiatives do or don’t deliver real, scalable outcomes, together we can help build a fairer Australia.

Delia Rickard, Independent Chair Financial Inclusion Action Plan Advisory Group

Household Relief Loans Without Interest

Household Relief Loans Without Interest for anyone impacted by COVID-19 are available now. In collaboration with the Australian Government, we’re providing No Interest Loans of up to $3,000 towards rent and utilities, repayable over 24 months. To apply visit: www.householdrelief.org.au