AFCA Datacube Update 1 June 2022
The Australian Financial Complaints Authority (AFCA) has this month released its 6 monthly updates to Datacube.
The Datacube displays a significant amount of information including information about financial firms with 4 or more complaints during the 6-month period, the number of complaints received and about which products and how the complaint progressed through the External Dispute Resolution (EDR) process.
At a glance for the period 1 July 2021 to 31 December 2021:
32,834 complaints received
16,555 complaints resolved at registration or referral
15,972 complaints progressed
16,613 complaints were closed at the case management stage
$97.6M paid in compensation to the complainant
the postcode region of NSW 2260 recorded the most complaints with 402 with NSW ranking top among all States and Territories followed closely by Victoria, Queensland, Western Australia, South Australia, the ACT, Tasmania and the Northern Territory
deposit-taking / payment systems topped the top five product complaint groups followed by home building insurance, consumer loans, credit cards and housing finance
Overall, compared to the 1 July 2020 to 30 June 2021 there was a 51.4% decrease in complaints.
You can see the Datacube in action at https://data.afca.org.au/at-a-glance