Dispute resolution groups within the financial services sector are working together to reduce costs, improve efficiency and provide a higher level of customer service, according to Parliamentary Secretary to the Treasurer Chris Pearce.

Speaking at the opening of an international alternative dispute resolution (ADR) conference on the Gold Coast last week, he said closer co-operation is encouraged by the Government ­as long as specialised knowledge is retained.

The five-day conference, which attracted ombudsmen from around the world, was hosted by the Banking and Financial Services Ombudsman, the Insurance Ombudsman Service and the Financial Industry Complaints Service.

Mr Pearce says the three major bodies, plus Insurance Brokers Disputes, the Financial Co-operative Dispute Resolution Scheme, the Credit Dispute Resolution Centre and the Credit Ombudsman Service cost their industries about $15 million a year to operate.

“The Government encourages further co-operation between external dispute resolution schemes to improve customer service and reduce costs,” he said.

The single-number system introduced by the three major ADR groups – which allows consumers to access each under the name “Financial Ombudsman Service” – was praised by Mr Pearce for reducing consumer confusion and avoiding automation.

“Most organisations faced with a complex routing system would have opted for a technological solution,” he said. “But the services rejected the answering-machine option. They believe that when consumers phone in, the call should be answered immediately by a person at the other end of the phone – there’s nothing like the sound of a reassuring ‘human voice’.

“As callers are now referred quickly to the appropriate agency, each service has reported that the number of calls to their case workers and enquiry teams has decreased dramatically.”

The call centre was expanded last year to include Insurance Brokers Disputes, the Superannuation Complaints Tribunal and the Credit Ombudsman Service.