Report

Measuring financial exclusion in Australia

31 May 2012
Description

Delving deeper into key topics, such as the use of credit and the experiences of Indigenous consumers, this report updates the CSI's 2011 report on the lack access to appropriate and affordable financial services and products.

In May 2011 the Centre for Social Impact (CSI) published the country’s first measurement of financial exclusion. The report provided detailed data on the extent of the issue and spotlighted the causes and impact of financial exclusion on millions of Australians.

We use the following definition of financial exclusion:
Financial exclusion exists where individuals lack access to appropriate and affordable financial services and products – the key services and products are a transaction account, general insurance and a moderate amount of credit.

This year we return to the same topic, updating the headline data that measures the level of financial exclusion, and delving deeper into key topics, such as the use of credit and the experiences of Indigenous consumers. We also provide a geographic analysis of financial exclusion data, showing wide differences in the level of financial exclusion across the 58 regions included in the study.

This research has been commissioned by National Australia Bank (NAB), with the objective of improving our understanding of financial exclusion and its interaction with social and economic disadvantage in Australia.
NAB has also provided access to its internal data on the use of financial services, and we have partnered with Roy Morgan Research to gain access to over 50,000 face to face interviews with Australian consumers each year.

We use the following definition of financial exclusion:
Financial exclusion exists where individuals lack access to appropriate and affordable financial services and products – the key services and products are a transaction account, general insurance and a moderate amount of credit.

Publication Details
Published year only: 
2012
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