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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2 June 2017 Media Release

Swinburne leading the way for financial inclusion nationally

Universities nationally are being called on to increase financial inclusion for students by Australia’s leading provider of affordable financial programs to people on low incomes, Good Shepherd Microfinance.

The appeal comes after more than 100 students at Melbourne-based Swinburne University benefited from financial programs and other assistance in the past six months, as a result of Swinburne’s Financial Inclusion Action Plan (FIAP).

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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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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.

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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