Updated: Oct 28, 2020
Contrary to popular perception, Australia despite being an advanced nation does have pockets of financial exclusion.
The Gen Advisory team has produced a report which presents:
A commonly-accepted definition of "financial inclusion"
Some facts and figures on financial exclusion in Australia;
Factors contributing to financial exclusion in Australia;
General strategies for improving financial inclusion;
Financial inclusion strategies already implemented by Australian ADIs to date;
The benefits of improved financial inclusion for the Australian economy and society; and
Further recommended actions for ADIs to improve financial inclusion.