Last September, Frollo were proud recipients of the first prize in the Metlife Foundation’s Inclusion Plus competition. We won by demonstrating how Frollo could be used to help those who are being financially excluded – the over 3 million Australians who are excluded from having basic banking and insurance services.
We were subsequently invited to the Metlife Foundation’s Global Summit – which brought together competition winners and runners-up from around the world. It was an inspiring Summit – we met companies and entrepreneurs from around the world who are committed to helping those in need get access to financial products and services.
One such company is Australia’s own Good Shepherd Micro Finance who have been working with organisations around Australia to help those in need through their Financial Inclusion Action Plan (FIAP). Member organisations work with Good Shepherd to improve and change the way they serve those who are financially excluded.
It is a hugely successful program, with over 30 companies signed up and working actively to improve their internal and customer-facing products and services. For example, Suncorp are working on a new customer experience strategy for their financially vulnerable and culturally diverse customers. And NAB has improved their support of customers in hardship who have experienced financial shocks, by providing assistance to over 19,000 customers in the last financial year.
There are many more examples of great work being done by the FIAP program – so if you require assistance, or know someone who does – please visit their website. You will find a list of organisations including those in other sectors such as Energy and Health all working towards helping Australians in need of a helping hand.