The Australian Securities and Investments Commission (ASIC) has launched an interactive internal dispute resolution (IDR) data dashboard that will enable users to see and compare complaints reported by individual financial firms.
The corporate regulator noted the new service will now allow individuals to compare complaints lodged against firms, including how these actions have been handled, involving areas such as financial advice, home loans, credit cards and general insurance.
According to ASIC, the initiative is aimed at improving transparency and providing a more accurate assessment of consumer concerns across the wider financial services industry and the volume and trends of complaints.
“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,” ASIC commissioner Alan Kirkland said.
Some key features of the dashboard include an overview of complaints volumes and trends over specified reporting periods, categorised breakdowns of complaints by issue and outcomes, the resolution times relating to individual financial organisations and information regarding monetary remedies paid out.
Further, ASIC indicated the new consumer tool has been launched to promote greater accountability within the financial services industry and provide a source of data to aid regulatory decision-making.
“This dashboard provides a bird’s-eye view of how the Australian financial sector handles complaints,” Kirkland explained.
“This makes it easier to identify key trends, including the reasons complaints are lodged, increases or decreases in complaints handling times and the sorts of products that attract the most complaints. This in turn allows us to flag emerging issues for industry attention before they become serious problems.”
The IDR data published on the dashboard will be aligned with Australian Financial Complaints Authority external dispute resolution reporting.
Previously, ASIC only published thematic reports on IDR, but following a consultation in April and May 2025, late last year the regulator flagged its intention to launch a dashboard.