Comparative reporting of complaint data
In accordance with ASIC Regulatory Guide 267 and our Rules, AFCA must publicly report information about complaints we receive and close against each scheme member, including comparative complaint data.
What is the Datacube?
Our work generates a rich set of data about the what is causing complaints and how they are being dealt with by financial firms. causes, types and outcomes of financial disputes. The AFCA Datacube is a visualisation of this data – showing how many complaints are made about financial firms and what kind of outcomes are reached.
The value of complaint data
We view comparative reporting of complaint data in the AFCA Datacube as an important tool we 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.
We want to give consumers and small businesses the information they need to make informed decisions about their financial providers. We also want to give providers an understanding of how they compare within their industries.
From 2019-20, the data will be updated every six months to enhance transparency and provide information in a way that is accessible and useful.
Find out more about how AFCA is enhancing our public reporting and changes to the way we report complaint data on our website.