Australia’s leading credit bureau Baycorp Advantage has been named the winner of the Consumer Federation of Australia’s Asher Award for making the most significant contribution to consumers in the past year.

The award, named after Allan Asher, the former Deputy Chair of the Australian Competition and Consumer Commission, is decided by the CFA, Australia’s peak consumer body.

The award was given in recognition of Baycorp Advantage’s moves to be more responsive to consumer issues and make its processes more transparent.

CFA chair Carolyn Bond said the award also recognised Baycorp Advantage’s improvements to its complaint handling procedures, which include joining an independent industry alternative dispute resolution scheme.

Baycorp Advantage, which is the custodian of the credit files of almost 14 million Australians, facilitates credit reference checks for Australia’s major banks and lenders. Baycorp Advantage supplies the credit information to support the vast majority of consumer and household credit applications in Australia.

Ms Bond said:

“Problems with a credit file can have a serious impact on consumers.

“Once implemented, these changes should give consumers more confidence that if there’s a problem, it will be fixed.”

Baycorp Advantage Managing Director Andrew Want said the award was recognition that Baycorp Advantage had begun a process of consumer engagement.

“This award is very flattering, and we’re very pleased that our efforts to develop closer relationships with consumers have been noted, and are valued,” he said.

“At the same time, we feel we’ve only started with this journey.

“Our goal is to enable consumers to better manage their credit histories actively - that’s good for consumers, for the credit industry and for Baycorp Advantage.”