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Ready for RG 271 Compliance Management

ASIC’s RG 271 has upped the ante of Internal Dispute Resolution (IDR) in Australia.

To keep up, you’ll need best-in-class software that ensures watertight compliance while improving customer service in your financial services business.

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ASIC RG 271 Requirements

ASIC's most recent requirements for how financial firms deal with consumer complaints are set out in RG 271, which ups the ante considerably when it comes to Internal Dispute Resolution (IDR). This drives home a real need to ensure the fair treatment of customers, while upholding the highest standards of regulatory compliance. Effective from 5 October 2021, RG 271 mandates the updated standards and requirements for IDR, which will undoubtedly bring major changes for the financial services industry in Australia.

Enter Aptean Respond—a powerful solution to meet the new RG 271 challenges.

Not only does Respond facilitate increased speed to resolution and an enhanced customer experience, but it can also be instrumental in ensuring the fair treatment of vulnerable customers. By putting the right processes in place, Aptean Respond can help to effectively manage the end-to-end customer complaint journey, fulfilling the duty of care that all financial services organizations must uphold, while achieving full compliance in-line with RG 271.

How Aptean Respond Helps

Solve These Challenges

Data Integrity

Respond manages the entire complaints process through each stage of its life cycle in a single, unified system. Intuitive workflows guide front-line staff members through the registration and informal resolution process, ensuring mandatory information and activity are captured accurately and consistently before the complaint is automatically escalated to the relevant IDR Team/Officer.

This gives front-line staff and IDR officers a single view of the case, ensuring all complaint details are correctly captured in a single location, enabling greater responsiveness and the ability to immediately acknowledge the customer.

Efficiency and Compliance

A comprehensive solution for improving consumer interactions, Respond speeds up case resolutions and captures actionable insights to help you provide an outstanding customer experience.

Respond's highly configurable workflow encapsulates all the elements of RG 271 as standard processes—automating time-consuming, repetitive steps such as responding to customers, escalation procedures and reminders. The automatic mail merge functionality auto populates case data into communications, which can be mailed or emailed to the customer. All this allows your team to focus on the specific needs of each customer, delivering a consistently sound experience—resulting in measurable improvements in complaint handling.

Data Insights

Providing a broad range of tools for extracting the RG 271-required insights on customer satisfaction and complaints metrics, Respond can produce comprehensive regulatory reports using the IDR data dictionary. Interactive, customizable dashboards provide at-a-glance visibility into the MI that matters the most—from case pipelines and outstanding tasks, to performance metrics, root cause trends and more.

With real-time reporting as standard, Respond delivers in-depth insight into complaint handling performance, as well as helping to form a solid understanding of the root cause of complaints, identifying systemic issues and the proximity of cases to service levels.

Ensure You’re Ready to Fulfill ASIC’s Latest Requirements 

For financial services firms in Australia, the Australian Financial Complaints Authority (AFCA) and the Australian Securities and Investments Commission (ASIC) need no introduction.  

At Aptean, we stay up-to-date with all the AFCA guidance and ASIC requirements, so that we can deliver innovative solutions to address your compliance challenges.

Aptean Respond offers purpose-built functionality to help you resolve complaints efficiently while maintaining watertight compliance. Are you ready to transform your complaints process? Ready to identify trends and root causes of feedback to drive improvements? And ready to increase customer loyalty? With Respond it’s all at your fingertips.

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Get the tools you need to nurture long-term customer relationships while driving operational excellence with Aptean Respond.
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RG 271 Compliance Made Easy with Aptean Respond

  • Capture data across all channels including social, email, phone and web

  • Elevate customer experience and customer loyalty with improved customer interactions

  • Empower staff with the tools to help resolve complaints promptly and in accordance with regulatory guidelines

  • Ensure compliance with response times by automating repeated tasks and actions

  • Deliver strategic value through tailored actionable insights

  • Review IDR processes including the actions taken and decisions made

Aptean Respond Complaints Management System

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