Systemic Issues Insights Report - Quarters 1 and 2 Financial year 2023–24

Some of the key elements of the engagement were: • Key representatives of the financial firm met Take note with AFCA to discuss the possible systemic issue Consumers can appoint a third party to • AFCA wrote to the financial firm outlining why act on their behalf on a complaint. [...] contact the firm by phone, had issues logging into the firm’s mobile app to contact it digitally, needed to engage in lengthy email When a financial firm correspondence to assist the firm to understand the issue, were implements a change, requested to provide information multiple times, had to deal with such as a change to how multiple staff on a complaint, were provided with different complaint a. [...] The cause of the issue was an unplanned outage of the system used by the firm to identify payments made by customers through the mobile app and allocate these to the customer accounts. [...] in the policy to help with consumer understanding of In resolution of the issue, the insurer advised that the Product the meaning. [...] Based on the work the firm had done to address the issues, and its ongoing engagement with the regulators about the issue, AFCA discontinued its investigation to avoid duplication and overlap.