New financial inclusion action plan program
30 May 2016
30 May 2016
Westpac Group was among eleven trailblazing organisations to recently unveil their commitment to a Financial Inclusion Action Plan program developed by Good Shepherd Microfinance and partners EY, Centre for Social Impact (CSI) and the Australian Government.
The aim of the program is to stimulate inclusive economic growth through coordinated, measurable actions to improve financial resilience for large numbers of people experiencing financial exclusion and hardship.
In a document released at the launch of the program, Westpac has committed to launch a Financial Inclusion Action Plan which provides a fresh focus on the financial inclusion work underway, builds on the commitments in its Sustainability Strategy and aligns with its Social Impact Framework.
In introductory comments, Westpac Group CEO Brian Hartzer said Westpac recognises that people face financial exclusion for many different, complex reasons, and at different times of their lives.
"For this reason, we have explored and introduced a broad range of initiatives, from short term financial assistance, financial capability training programs and new forms of wealth creation, through to long term, sector-wide solutions to prevent people from falling into financial hardship in the first place," he said.
"After all, we believe Westpac can remain strong only if our economy and society remain strong and financially resilient."