ASIC did a media launch right this moment which proclaims the launch of a monetary complaints knowledge dashboard.
The media launch reads:
Australians now have unprecedented entry to shopper complaints knowledge following the launch of ASIC’s new interactive dashboard.
The Inner Dispute Decision (IDR) knowledge dashboard allows customers to check the complaints reported by particular person monetary companies for the primary time, together with their dealing with of complaints related to particular merchandise like dwelling loans, bank cards, life and basic insurance coverage, or monetary recommendation.
ASIC Commissioner Alan Kirkland mentioned the info dashboard would improve transparency by offering priceless insights into complaints volumes and traits, giving better visibility of shopper issues and potential hurt throughout the monetary companies trade.
‘Transparency is essential to supporting a good, robust, and environment friendly monetary system. The launch of our new inside dispute decision knowledge dashboard marks a major step in bettering public scrutiny of the system,’ he mentioned.
Different key options of the dashboard embody:
- an outline of complaints volumes and traits over specified reporting durations
- categorised breakdowns of complaints by problem and criticism consequence
- complaints decision occasions for particular person monetary companies, and
- details about financial treatments paid.
Commissioner Kirkland added that along with empowering customers, the public-facing dashboard promotes better accountability inside the monetary companies trade and offers ASIC with a priceless knowledge set to tell regulatory choice making.
‘Past offering for a comparability between particular person companies, this dashboard offers a fowl’s-eye view of how the Australian monetary sector handles complaints,’ mentioned Mr Kirkland.
‘This makes it simpler to determine key traits, together with the explanations complaints are lodged, will increase or decreases in complaints dealing with occasions, and the kinds of merchandise that entice essentially the most complaints. This in flip permits us to flag rising points for trade consideration earlier than they change into critical issues.’
The dashboard additionally contains necessary data for customers about easy methods to navigate the brand new dashboard, easy methods to interpret the info, definitions of key phrases, and a proof of the methodology.
This IDR knowledge publication aligns with the Australian Monetary Complaints Authority’s reporting of exterior dispute decision (knowledge to supply a whole image of the monetary dispute decision framework.
In October, ASIC additionally launched its Reportable Conditions dashboardwhich incorporates granular details about monetary companies and credit score licensees’ self-reported breaches.
Interactive dashboard
Inner Dispute Decision knowledge dashboard
Extra data
Background
The IDR regime requires sure monetary companies to report all complaints obtained by means of their IDR processes. ASIC is empowered to publish agency degree details about complaints obtained.
In earlier years, ASIC revealed thematic reviews on IDR however has since foreshadowed the intention to publish extra granular knowledge following session.
ASIC consulted on its proposed strategy over April and Might 2025, earlier than publishing a abstract of suggestions in September 2025 outlining its remaining strategy to the IDR knowledge publication.
The publication strategy was decided following consideration of 47 submissions obtained in response to CP 383 Reportable conditions and inside dispute decision knowledge publication (CP 383).
