Would you like to know how your bank can take action to prevent financial abuse and support customers experiencing domestic violence? This post is for you.
If you missed our session on financial abuse at the recent #COBA24 Convention, Phillip Noble has written a beautiful blog post about it (linked below).
I’d also like to acknowledge the courage of our incredible panelists Rosie Batty, Kelly-ann Tansley, Stephen Capello and Sophie Scott-Young for sharing their experiences, expertise and insights with us.
Here is some further information for member banks:
💡 COBA’s policy manager Ilana Madjar runs our sector financial abuse working group. This is an opportunity to collaborate with your peers on this important issue. Please reach out to Ilana for more information.
💡 We will hold a webinar on financial abuse at 1pm on Wednesday, 13 November with information for member banks. The webinar will feature Catherine Fitzpatrick of Flequity Ventures, a social entrepreneur whose #designedtodisrupt reports and #respectandprotect initiatives have informed our industry’s approach to financial abuse.
The webinar will focus on financial abuse within a domestic violence context, and will also feature Hume Bank and Beyond Bank Australia as they share the steps they are taking to address financial abuse. You can find the webinar link in the COBA Weekly, or contact Ilana Madjar.
💡 Many financial institutions have signed up to the Respect and Protect initiative to include financial abuse in product terms and conditions. Participating customer owned banks include Unity Bank, Great Southern Bank, Bank First, Central Murray Credit Union Limited, P&N Bank, IMB Bank, G&C Mutual Bank, Heritage Bank, People's Choice Credit Union, BCU Bank, Beyond Bank Australia and Hume Bank. You can find out more at https://lnkd.in/gCnD4bMV.
💡 Our #COBA24 charity partner the The Zahra Foundation Australia works with banks including Credit Union SA and Beyond Bank Australia. They provide fee for service domestic abuse awareness training to ensure that your workplace understands the signs and impact of domestic abuse, and have a very useful checklist of common signs to watch for.
💡 The Centre for Women's Economic Safety Designed to Disrupt report examines how the finance sector can play a key role in preventing economic harm by adopting Safety by Design principles into the design of its product and services.
💡 Kaelia Cockington of eMatrix Training wrote an excellent feature article in our 5 September edition of the COBA Weekly with essential tips for frontline staff working with customers experiencing financial abuse. eMatrix offers training in financial abuse for customer service employees. Please send Kaelia Cockington or I a message if you would like a copy.
A shout out to the many banks leading in this space, including those listed above. Let’s drive this change together.