ABOUT THE AFCA DATACUBE:
The Australian Financial Complaints Authority (AFCA) provides consumers & small businesses with fair, free & independent dispute resolution for financial complaints.
It considers complaints about the following disputes:
- Credit, finance & loans
- Banking, deposits & payments
- Investments & financial advice
They want to give consumers & businesses the information they need to make informed decisions about their financial providers. They also want to give providers an understanding of how they compare within their industries.
Comparative reporting of complaint data
In accordance with ASIC Regulatory Guide 267 and their Rules, AFCA must publicly report information about complaints they receive and close against each scheme member, including comparative complaint data.
What is the Datacube?
AFCA's work generates a rich set of data about complaint types, outcomes, causes, and how they are being dealt with by financial firms. The AFCA Datacube is a visualization of this data – showing how many complaints are made about financial firms and what kind of outcomes are reached. The data is updated every six months to enhance transparency and provide information in a way that is accessible and useful.
The value of complaint data:
AFCA views comparative reporting of complaint data in the AFCA Datacube as an important tool they can give to:
consumers and small businesses to make informed choices about the financial products and services they use, and
for members to have a statistical understanding of how they compare with their counterparts and areas they can improve.
AFCA's work generates a rich set of data about the issues, types, and outcomes of financial complaints. The AFCA Datacube is part of its commitment to providing access to this data in a transparent and useful way.
1. REGISTRATION & REFERRAL:
2. CASE MANAGEMENT:
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