How FIAP Works
What is a FIAP?
A FIAP is a plan that details the actions that member organisations will implement to improve the financial wellbeing of their customers, employees, suppliers and communities.
The plans are developed with support from Good Shepherd, according to a framework jointly developed by Good Shepherd, CSI, and EY.
Organisations who wish to develop a FIAP must first join as a FIAP member. This could be as part of the National FIAP program, or one of the place-based programs. Good Shepherd works with potential members and the FIAP Advisory Group to ensure that all organisations who join the program have a genuine commitment to improving financial wellbeing in Australia.
Developing a FIAP
Good Shepherd staff work closely with member organisations to facilitate the development of action plans. This will typically involve a self-evaluation and a number of structured workshops to identify existing, planned, and potential activities. The actions are developed according to the FIAP Framework. FIAPs represent public commitments, so every plan must have the endorsement of the organisation’s executive team before being published.
As part of the FIAP process, all actions must feature specific and measurable outputs, and intended outcomes. The outcomes are reviewed at the end of the FIAP period, with results made public to show an organisation’s progress towards its financial inclusion goals.
The FIAP Community
FIAP member organisations join a community of like-minded organisations working towards financial inclusion. The Good Shepherd team facilitates quarterly Community of Practice meetings, and a range of other information sessions, to help them share learnings and communicate with each other.