ASIC did a media launch at the moment which proclaims the launch of a monetary complaints knowledge dashboard.
The media launch reads:
Australians now have unprecedented entry to client complaints knowledge following the launch of ASIC’s new interactive dashboard.
The Inside Dispute Decision (IDR) knowledge dashboard allows customers to match the complaints reported by particular person monetary corporations 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 stated the information dashboard would improve transparency by offering invaluable insights into complaints volumes and developments, giving higher visibility of client issues and potential hurt throughout the monetary providers trade.
‘Transparency is essential to supporting a good, robust, and environment friendly monetary system. The launch of our new inner dispute decision knowledge dashboard marks a big step in bettering public scrutiny of the system,’ he stated.
Different key options of the dashboard embrace:
- an outline of complaints volumes and developments over specified reporting durations
- categorised breakdowns of complaints by subject and grievance final result
- complaints decision instances for particular person monetary corporations, and
- details about financial treatments paid.
Commissioner Kirkland added that along with empowering shoppers, the public-facing dashboard promotes higher accountability inside the monetary providers trade and supplies ASIC with a invaluable knowledge set to tell regulatory choice making.
‘Past offering for a comparability between particular person corporations, this dashboard supplies a fowl’s-eye view of how the Australian monetary sector handles complaints,’ stated Mr. Kirkland.
‘This makes it simpler to determine key developments, together with the explanations complaints are lodged, will increase or decreases in complaints dealing with instances, and the kinds of merchandise that appeal to essentially the most complaints. This in flip permits us to flag rising points for trade consideration earlier than they turn into severe issues.’
The dashboard additionally contains necessary data for customers about the way to navigate the brand new dashboard, the way to interpret the information, 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 offer a whole image of the monetary dispute decision framework.
In October, ASIC additionally launched its Reportable Conditions dashboard, which accommodates granular details about monetary providers and credit score licensees’ self-reported breaches.
Interactive dashboard
Inside Dispute Decision knowledge dashboard
Further data
Background
The IDR regime requires sure monetary corporations to report all complaints acquired via their IDR processes. ASIC is empowered to publish agency stage details about complaints acquired.
In earlier years, ASIC printed thematic studies on IDR however has since foreshadowed the intention to publish extra granular knowledge following session.
ASIC consulted on its proposed method over April and Might 2025, earlier than publishing a abstract of suggestions in September 2025 outlining its closing method to the IDR knowledge publication.
The publication method was decided following consideration of 47 submissions acquired in response to CP 383 Reportable conditions and inner dispute decision knowledge publication (CP 383).