The Australian Securities and Investments Commission (ASIC) is Australia’s corporate, markets, and financial services regulator. ASIC requires financial services providers to have an effective internal dispute resolution scheme in place and has published the RG 271 rules guidance document.
Regulatory Guide 271 (RG271) explains what Australian financial services (AFS) licensees, unlicensed product issuers, unlicensed secondary sellers, trustees of regulated superannuation funds (other than self-managed superannuation funds (SMSFs)), trustees of approved deposit funds, retirement savings account providers, Australian credit licensees (credit licensees) and unlicensed carried over instrument lenders (unlicensed COI lenders) must do to have a dispute resolution system in place that meets ASIC’s requirements.
Case Management solution for RG 271 Licensing: Internal and external dispute resolution
Civica Complaint Management for Financial Services has been designed to enable Australian financial services providers to meet the requirements set out in RG 271.
An easy-to-use, cost-effective, and intuitive system, Civica’s complaints management software for financial services, makes it easy to capture manage, track and report on complaints and feedback regardless of where and how the customer contacts your organisation.
The Civica Complaint Management solution for Financial Services includes:
- Workflows and correspondence that are pre-defined to meet the prescribed timescales for initial handling and escalated handling of complaints and disputes.
- Granular classification of complaints to enable effective root cause analysis to be conducted to prevent systemic issues from going unnoticed.
- Simple to use facilities for the capture of complaints to enable logging and tracking from initial contact with contact through to escalated handling operations.
- Email, web form, chat, SMS, telephony, and social media integration tools to enable complaints to be collected from any channel.
- Full reporting, team-specific dashboards, and analysis tools – with oData support for plug ‘n’ play connectivity to Power BI, Tableau, and other BI tools.
- KPI tracking and measurement.
- Full support for external dispute resolution processes – with a facility to support sharing of case file information with the Australian Financial Complaints Authority (AFCA) if and when a complaint is externally escalated by a consumer.
If you would like to learn more about Civica Complaints Management for Financial Services, contact us to book a demo.
Find out how we can transform the way you work