Post: ASIC releases summary document for Indigenous Financial Services Framework Workshop

Understanding and responding to identification challenges for First Nations consumers
ASIC has published a summary document from a 30 November 2023 virtual workshop which focussed on building an understanding of identification verification challenges faced by First Nations consumers, and how industry can apply flexible approaches while meeting legislative requirements.

The November workshop provided a deep dive into day-to-day consumer experiences and highlighted projects and initiatives that could be broadly adopted to improve the financial outcomes for First Nations peoples.

The workshop is part of a series of workshops led by ASIC’s Indigenous Outreach Program (IOP) and is part of our continued engagement with industry under our Indigenous Financial Services Framework (Framework).

ASIC will host two further workshops before June 2024 for the credit, banking, general and life insurance sector, and the superannuation sector. Each workshop will focus on specific themes that have been identified as prevalent challenges experienced by First Nations consumers, as well as areas where some progress and innovative solutions are emerging.

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