Ombud Council AR 2026

PART B: PERFORMANCE INFORMATION

3.2. Outcome 2: Increased consumer awareness and usage of ombud schemes and their services.

The originally published Strategic Plan envisaged establishing a baseline measure of consumer awareness and usage of the ombud system and targeted the re running of the measurement by the end of the five year strategy period to assess the extent of increase in consumer awareness and usage. This target assumed that the initial baseline measure would be finalised during the financial year 2025/26. However, for reasons set out in section 2.1.2 above and in our 2026/27 APP, the initial baseline measure could not be completed during 2025/26 and this initiative has been deferred to financial year 2026/27. The outcome indicator and five-year target for this outcome have therefore been

changed to focus on using the findings of the baseline study to identify gaps in consumer awareness and usage of the financial ombud system and developing and implementing targeted education and awareness initiatives to address these. Progress will be reported on in future reports. Targets for the consumer awareness publications and activities have, however, been exceeded, and the Council intends to set itself more ambitious targets for these deliverables over the remainder of the strategic planning period, including more granular targets focused on vulnerable consumer segments and a wider geographic spread.

3.3. Outcome 3: Conduct risks identified through analysis of reported ombud data and shared with relevant stakeholders to enable mitigation through policy or regulatory responses.

Early success has been achieved in meeting the five year target of demonstrable Council support to policy or regulatory responses to identified conduct risks. As discussed in section 4.2.1, support has been provided

to regulators to support their regulatory responses to the risks of digital banking fraud, intermediary misconduct, and unfair and unauthorised debt counselling practices.

3.4. Outcome 4: Implementation of reforms in the National Treasury policy paper (“A Simpler, Stronger Financial Sector Ombud System” (February 2024)) supported.

The Council has continued to provide proactive support to the development of the ombud-related elements of the COFI Bill and relevant consequential amendments to the FSR Act. The Council has also actively participated in drafting and stakeholder engagements on the proposed new Financial Sector Ombud System Amendment Bill,

which will propose measures to give effect to future phases of the National Treasury’s reform proposals. Delivery of the five-year target of demonstrable implementation of these reforms is therefore well on track. Please refer to section 4.2.1 below for further detail.

3.5. Outcome 5: Improved alignment and coordination of ombud scheme complaint handling processes.

Steady progress has been made toward targeted simplification of consumer access to ombuds, reduced overlaps and simplified referrals between schemes, and improved alignment of complaint handling processes, particularly as between the FAIS Ombud and the National Financial Ombud schemes. The targeted outcome

indicator of finalising Council Rules for the Pension Funds Adjudicator has also been met, with some provisions of the Rules already implemented in the year under review and others to come into operation on a staggered basis over the 2026/27 financial year. Detail is provided in section 4.2.1 below.

Ombud Council 2025/26 Annual Report

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