ASIC IDR Data Dashboard: Launched March 18, this Internal Dispute Resolution (IDR) dashboard allows you to compare complaints reported by individual firms for the first time. Use this to track lender responsiveness and manage client settlement expectations.
Australians now have unprecedented access to consumer complaints data following the launch of ASIC’s new interactive dashboard.
The Internal Dispute Resolution (IDR) data dashboard enables users to compare the complaints reported by individual financial firms for the first time, including their handling of complaints associated with specific products like home loans, credit cards, life and general insurance, or financial advice.
ASIC Commissioner Alan Kirkland said the data dashboard would enhance transparency by providing valuable insights into complaints volumes and trends, giving greater visibility of consumer concerns and potential harm across the financial services industry.
‘Transparency is crucial to supporting a fair, strong, and efficient financial system. The launch of our new internal dispute resolution data dashboard marks a significant step in improving public scrutiny of the system,’ he said.
Other key features of the dashboard include:
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an overview of complaints volumes and trends over specified reporting periods
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categorised breakdowns of complaints by issue and complaint outcome
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complaints resolution times for individual financial firms, and
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information about monetary remedies paid.
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