Customer Advocate Report 2014

The ANZ Customer Advocate’s role is to review disputes from retail, small business and wealth customers in Australia, where the customer is not satisfied with the outcome of our internal dispute resolution process. On some occasions, particularly difficult complaints may be referred directly to the Customer Advocate for resolution.

The Customer Advocate operates autonomously from ANZ business units and reports to the Chief Executive Officer (Australia Division). ANZ is bound by the Customer Advocate’s findings in all cases.

If the Customer Advocate finds Bank error, our approach is to apologise and attempt to put customers back into the position they would have been had an error not occurred. Feedback is provided internally regarding potential process, product and service improvements.

In addition to resolving complex complaints, the Customer Advocate’s Office provides guidance to frontline staff on the support of vulnerable customers, particularly those who may have diminished capacity to manage their financial affairs.

In FY2014, the Customer Advocate completed 1,015 reviews related to general banking products (such as mortgages, savings accounts and credit cards) compared to 877 in FY2013. Nearly 97 percent were resolved without escalation to external review, such as the Financial Ombudsman Service, and 51 percent were resolved wholly or partially in favour of the customer. Ninety-eight percent of complex complaints were resolved within 20 working days.

The Customer Advocate also reviewed 392 disputes relating to insurance, superannuation and investments, compared to 362 in FY2013. Ninety percent were resolved without escalation to external review.