2017

Presentations from ASIC's Financial Literacy Community of Practice delivered in 2017.

Leveraging the power of fintech to provide affordable credit options for consumers

6 October 2017


Corinne Proske, General Manager Retail and Online, Good Shepherd Microfinance

Elliot Anderson, Head of Financial Inclusion, National Australia Bank

Corinne Proske

Elliott_Anderson

NAB and Good Shepherd Microfinance outlined a new initiative they have been working on, called Speckle, which leverages leading-edge fintech to provide a scalable and sustainable credit solution. Speckle is currently being piloted in Victoria and Tasmania, with other states and territories to follow.

The session covered:

  • Scoping of the business case and market opportunity
  • An outline of the product features and how it works
  • Key learnings from the development process
  • What has been the initial experience for customers so far

Good Shepherd Microfinance and NAB - Presentation

Corinne Proske and Elliot Anderson on Speckle

Leveraging the power of fintech to provide more affordable credit options for consumers

Corinne and Elliot explain why their organisations have partnered to create a new small loan product called Speckle. 

DHS Financial Information Service

28 July 2017

Craig Davidson, Assistant Director, DHS Financial Information Service

Craig_Davidson

The Department of Human Services provides the Financial Information Service (FIS) to increase financial education in the community. Over the last 27 years, FIS has equipped people with knowledge needed to make informed decisions about wealth creation, investments and retirement planning. FIS Officers work enthusiastically to make sure people get the information they need - whether at a seminar, through the DHS call centre, or via face to face interviews. FIS also assists employer groups and community organisations with increased financial literacy awareness through education and outreach services.

This presentation outlined how FIS is seeking greater ways to assist the changing needs of customers and adapt to the financial environment of the future.

DHS Financial Information Service - Presentation

Craig Davidson on the Financial Information Service

Craig Davidson from Human Services talks about the Financial Information Service

Craig Davidson speaks about the Human Services' Financial Information Service and how FIS is seeking greater ways to assist the changing needs of customers and adapt to the financial environment of the future.

Judith Waller, Senior Policy Officer, ASIC

Judith_Waller

In 2017 ASIC is leading a review and consultation process, with a view to refining and updating the National Financial Literacy Strategy for 2018 and beyond. This is an opportunity to further strengthen partnerships and collaborative efforts, and broaden engagement to increase collective impact.

Judith provided a brief overview of the key areas to be considered during the consultation, highlighed some issues identified through discussions so far, and explained how supporters can contribute their views to inform the development of the updated National Strategy.

National Financial Literacy Strategy - Presentation

Impact of financial conversations on the financial capability of NILS applicants

30 June 2017


Dr Vinita Godinho, Good Shepherd Microfinance

(Presenting with Lauren Thomas, Kate Eccles & Rachel Davis, Good Shepherd Microfinance)

Vinita_Godinho

The 'Pathways to Resilience' research investigated the impact of financial conversations that microfinance workers have with every applicant for a No Interest Loan Scheme (NILS) loan. The study found that the applicants' financial capability peaks at the point of these conversations and found that the impact of the conversation varies, depending on the applicants' existing financial capability, needs and circumstances. It also revealed that the immediate impact of the conversation normalises over time, suggesting microfinance workers need new strategies to sustain improved capability over the longer-term.

Since publication, these insights have informed the development of a new training module available to all microfinance workers across Australia through the Good Learning online portal, enabling them to tailor their support to applicants' individual needs. Read the GSM Research Report.

Good Shepherd Microfinance - Presentation

Dr Vinita Godinho on Good Shepherd Microfinance's Pathways to Resilience research

Vinita Godinho on Good Shepherd Microfinance's Pathways to Resilience research

Dr Vinita Godinho speaks about research findings from Good Shepherd Microfinance on understanding the impact of microfinance workers on the financial capability of clients.

How can we make disclosure work better for consumers?

26 May 2017


Denise Hang, Insurance Council of Australia

Denise_Hang

Effective product disclosure is an ongoing challenge for consumer contracts of all kinds around the world. Delivering information at the right time, and in the right way, to improve decision making is complex. In 2015, the Insurance Council established an independent taskforce to assess the effectiveness of, and recommend initiatives to enhance, product disclosure.

This presentation outlined the findings from research that has been conducted by the Insurance Council into consumer pre-purchase decision-making and the role of disclosure in helping consumers to purchase general insurance that meets their needs. Read the ICA research report.

Insurance Council of Australia - presentation

Denis Hang on the Insurance Council of Australia's research on disclosure

Denise Hang from Insurance Council Australia on understanding insurance

Denise Hang speaks about  research findings from Insurance Council Australia on how consumers understand insurance and effective product disclosure.

Clare Marlin, ASIC's Behavioural Economics team

Clare has been researching and reporting on consumer and investor behaviour for 20 years, including ASIC's disclosure research. In this presentation, Clare highlighted ASIC's research on the limits of disclosure and draws on common themes across ASIC's significant bank of consumer and investor research, as well as relevant principles from the behavioural sciences.

ASIC Behavioural Economics - presentation

Achieving results for Indigenous consumers

28 April 2017


Nathan Boyle, ASIC's Indigenous Outreach Program

Nathan_Boyle

Nathan presented on recent court outcomes in the Channic car loans case and Mintabie book up matter and explained how ASIC approached these investigations in new ways to ensure they were culturally appropriate, in order to gain a fuller picture of the financial agreements made by Indigenous consumers.

Nathan also explained some of the key financial literacy gaps for Indigenous consumers and gave an update on the IOP's work to improve access and knowledge around superannuation.

Achieving results for Indigenous consumers, ASIC's IOP

Nathan Boyle on ASIC's work with Indigenous communities

Nathan Boyle discussed ASIC's work with Indigenous communities

Nathan Boyle talks about ASIC's Indigenous Outreach Program and how ASIC approached the  Channic car loans and  Mintabie book up matters in a new and different way. He also speaks about the work ASIC is doing to improve access and understanding of super in Indigenous communities. 

Start Smart story book and ASIC's MoneySmart Teaching

31 March 2017


Kylie Macfarlane, General Manager Corporate Responsibility, CommBank

CBA_Macfarlane_K

Start Smart is the country's largest financial education program reaching more than 500,000 school students in the last year. In 2016, CommBank piloted a program extension with an educational story book and virtual reality experience for young kids and parents to enjoy together.

This presentation detailed insights from the pilot and how the initiative has triggered new thinking about how best to teach money skills.

Start Smart story book and virtual reality experience

Kylie Macfarlane on CommBank's Start Smart program

Kylie Macfarlane and Commonwealth Bank's Start Smart program

Kylie Macfarlane answers questions about Comm Bank's Start Smart program and virtual reality pilot.

Miles Larbey, Senior Executive Leader, ASIC

Miles_Larbey

ASIC's MoneySmart Teaching is the Australian Government's financial literacy program for schools, supported by State and Territory education departments. ASIC works collaboratively with the formal education sector to support teachers in the classroom and develop in students from a young age the knowledge, skills, behaviours and attitudes to make informed decisions about money and finances.

This presentation highlighted ASIC's MoneySmart Teaching program new resources for school communities and online professional learning modules to build teacher's confidence and capability in financial literacy education.

ASIC's MoneySmart Teaching program resources

Miles Larbey on ASIC's MoneySmart Teaching program

Miles Larbey and ASIC's MoneySmart Teaching program

Miles Larbey answers questions about ASIC's MoneySmart Teaching program, including the Knowing Growing Showing Indigenous resources, professional development modules for teachers, and the First Business app

Evaluating the effectiveness of a text message nudge

24 February 2017


Professor Roslyn Russell, RMIT University Roslyn Russell Wayne Warburton

Dr. Wayne Warburton, Macquarie University

The Wesley Mission 'In Charge of My Money' Financial Literacy program aims to help vulnerable people build financial capabilities to manage their money and avoid getting into debt.

In this presentation, Professor Roslyn Russell and Dr Wayne Warburton presented details of the first evaluation of Wesley Mission's Financial Literacy program and the effectiveness of follow-up reminders to increase the chance of sustained change.

Evaluating the Wesley Mission Financial Literacy Program presentation

Dr Wayne Warburton on text message nudges

Dr Wayne Warburton and Wesley Mission's Financial Literacy Education Program

Here is an interview with Dr Wayne Warburton at the Community of Practice event where he outlines the highlights of the research findings.


Last updated: 17 Oct 2017