Two teams from the Australian Financial Complaints Authority (AFCA) – spanning the range of ways it helps consumers and financial firms resolve disputes – have been named as finalists in the Australian ADR Awards.
The Australian ADR Awards recognise excellence in alternative dispute resolution (ADR).
AFCA’s Conciliation team and Decision Maker team are both finalists in the “Ombudsmen & Commission ADR Group of the Year” category.
AFCA’s Conciliation team works with complainants and financial firms to try to resolve disputes informally through mediation and negotiation. Most of the more than 70,000 complaints escalated to AFCA annually are resolved by agreement between the parties with its help.
About 7 per cent of disputes do proceed to formal “determination” and AFCA’s Decision Maker team – made up of specialist ombudsmen, adjudicators and panel members representing consumers and industry – consider more than 5000 complaints a year.
“Having both these teams as finalists in the ADR Awards is testament to the skill and commitment of our people,” Chief Ombudsman David Locke said. “It’s well-deserved recognition.
“AFCA tries to resolve complaints in the most fair, effective and efficient way possible and these teams both make incredibly important contributions to our critical role as a free alternative to a tribunal or court for consumers, small businesses and financial firms.”
The winners of the ADR Awards will be announced on 17 February 2022.
Published: 15 November 2021
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The Australian Financial Complaints Authority (AFCA) is a non-government ombudsman service providing free, fair and independent help with financial disputes. It is a one-stop-shop for consumers and small businesses who have a dispute with their financial firm, over things such as banking, credit, insurance, advice, investments or superannuation. Where an agreement cannot be reached between parties, AFCA can issue decisions that are binding on financial firms.