Financial Consumer Contracts

Description of impact

Professor Camilla Andersen and the Comic Book Contract team began working with a large Australian financial institution in 2018. Financially supported via a research project, they have been working with the company to prepare contracts for hundreds of thousands of private banking customers. Initial focus group testing conducted has shown similar results to those seen in previous testing, with the user-friendliness of the contracts being appreciated.

For industry, the use of comic book contracts can save the company time and money, as well as promote a better image. The contracts have enabled an improvement in the relationship between users and industry through a clearer understanding of their rights and responsibilities.

They are excited to finalise the large-scale consumer contracts and roll them out. Since they began comic contracts research in 2016, none of the visual contracts prepared by the team have been disputed. The scale of roll-out of this contract will be a strong test in validity and efficacy.
Impact date2018
Category of impactEconomic Impacts, Social Impacts, Cultural Impacts
Impact levelAdoption