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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 dispute resolution scheme in place and has published the RG165 rules guidance document.

RG 165 explains what AFS licensees, unlicensed product issuers, unlicensed secondary sellers, credit licensees, credit representatives, unlicensed carried over instrument lenders (unlicensed COI lenders) and securitisation bodies must do to have a dispute resolution system in place that meets ASIC’s requirements.

UsefulFeedback’s solution for RG 165 Licensing: Internal and external dispute resolution

UsefulFeedback for Financial Services has been designed to enable Australian financial services providers to meet the requirements set out in RG 165. An easy to use, cost effective and intuitive system, UsefulFeedback 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.

UsefulFeedback's complaint management software 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, telephony and social media integration tools to enable complaints to be collected from any channel.
  • Full reporting, team-specific dashboards and analysis tools.
  • KPI tracking and measurement.
  • Full support for external dispute resolution processes – with facility to support sharing of case file information with the relevant EDR scheme if and when a complaint is externally escalated by a consumer.

Click here to book a demo of UsefulFeedback's complaint management software for financial services

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