ANZ acts on dispute resolution
ANZ has introduced a set of principles on dispute resolution in a bid to ensure customer complaints and legal matters are handled fairly and in line with community expectations.
The principles will apply to all of the bank’s employees and lawyers who are involved in complaints with both retail and small business customers.
According to the statement from the bank, the principles represent a “small but important part of ANZ’s response” to the Royal Commission.
The principles are based on managing complains and disputes; managing legal proceedings and general principles around “listening intently and not defending the indefensible – “if it is clear that we have done the wrong thing, don’t look for excuses or try to justify the error” the principle states.
The principles also urge employees to work with the Australian Financial Complaints Authority if the customer refers the matter to an external dispute resolution body.
“When we are attempting to resolve customer disputes, we want to act in the spirit of the law not just the letter of the law, which means considering community expectations,” ANZ CEO Alexis George said.
“Today we are making a public commitment on how we want to conduct ourselves during disputes and, importantly, we have shared these principles with our external legal partners, so they know how we want to be represented,” she said.
“Our customer fairness advisor, Colin Neave put a lot of work into creating these principles, including valuable input from customer groups, so we are confident they will work well for us and our customers.”