Since 2016, members of Australia’s Financial Inclusion Action Plan (FIAP) Program in Australia have been working together to address issues of financial inclusion and wellbeing in their respective spheres of influence. One of the key benefits of the program is the opportunity for members to join together in quarterly “Communities of Practice” meetings. These mini-conferences, hosted by our member organisations, bring together organisations from across the country, and from across multiple sectors to discuss key topics in financial inclusion and share lessons.
The group held a Community of Practice meeting on Thursday 24th October as part of Financial Inclusion Week, hosted by QBE. The event featured a panel discussion on how industry codes and charters can be used to address financial vulnerability, featuring representatives from the Energy Charter, Australian Banking Association and the Insurance Council of Australia.
The group also welcomed new members Liberty Financial, Better Life Mobile and Best Financial Friend, bringing the total number of members to forty.
Earlier this week, Liberty Financial CEO James Boyle stated “We help people from all walks of life access credit and have long supported the important goal of improving financial inclusion among Australians. It’s for this reason that we are pleased to join the Financial Inclusion Action Plan program.”
Better Life Mobile explained how their business specialises in keeping disadvantaged groups such as the homeless or the unemployed digitally connected through affordable mobile phone plans. Adrian Panozzo, Director of Better Life Mobile explained, “We want to be an example to phone companies, and show how to treat people living on low incomes as ‘customers’ and with the dignity and respect they deserve.”
Finally, new member Best Financial Friend explained its unique financial coaching model, combining elements of behaviour change, one-on-one support and technology to specifically address the issues of financial exclusion that women in Australia face on a daily basis.