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)

3 May 2018

Leading organisations announce Financial Inclusion Action Plans

On Wednesday 21 March, more than 100 guests and speakers came together at the University of New South Wales to launch the Financial Inclusion Action Plan (FIAP) program’s Phase One report. Held on Harmony Day, the breakfast event highlighted the role that the FIAP program and participants can play to address the issue of financial exclusion 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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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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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.

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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

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