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22 November 2021
The Australian Financial Complaints Authority (AFCA) has launched a digital platform that provides more information as it seeks to help firms better manage disputes that reach the ombudsman service.
AFCA says the Member Benchmarking Dashboard provides near real-time complaints data and includes information that allows comparisons against an anonymised set of similar financial firms.
“Using the new dashboard, AFCA members can investigate the types of complaints they receive, how well they respond to disputes, and how their performance compares to other firms in their industry,” CEO and Chief Ombudsman David Locke said.
“By providing members with greater data and insights, we hope to help financial firms improve customer service and minimise disputes.”
Mr Locke says AFCA’s primary role is to resolve complaints but it also has a responsibility to encourage best practices that will help reduce the level of complaints firms receive.
The dashboard, announced at the bi-annual member forum on Friday, will be released to AFCA members in phases during November and December.