The Australian Financial Complaints Authority (AFCA) is required by legislation to operate in a way that is accessible, independent, fair, accountable, efficient and effective.
The efficiency requirement recognises the importance of complaints being resolved in a timely way. We have designed a flexible complaints resolution process to cater for the range of complaints that we consider.
To maximise our effectiveness, we consult with stakeholders, including consumer representatives and financial firms, and we aim to continually improve our performance.
We consult and engage with stakeholders in a range of ways. These include industry forums and liaison meetings, consumer liaison group meetings, meetings with individual financial firms and consumer groups, and through the regular publications we release.
We recognise repeat complaint issues and work with financial firms to resolve the underlying causes of these issues. We also support regulators by providing information to them about these issues.
AFCA provides an efficient and effective service through a number of means, including: