Banks, utilities in financial inclusion action plan

The big four banks and some of Australia's biggest energy and water companies are among 30 groups to have joined the Financial Inclusion Action Plan program, helping to meet Australia's G20 commitment to reduce financial exclusion.

The initiative, led by Good Shepherd Microfinance, represents a big shift in philosophy by the big end of town and towards dealing more compassionately with customers in financial hardship by helping them to rebuild financial capability, which also relieves pressure on government services.