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)

24 July 2019 Media Release

New non-profit partnership boosts financial capability and wellbeing in Australia

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27 September 2018 Media Release

Good Shepherd Microfinance welcomes three new partners to the FIAP program

Good Shepherd Microfinance is delighted to welcome three new partners, BUSSQ, Ergon Energy Retail and Water Corporation WA, to the Financial Inclusion Action Plan (FIAP) Program, bringing the total number to thirty-three.

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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.

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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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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