Ombudsman receiving fewer complaints, but upholding a higher percentage

Discussion in 'The Financial Services Ombudsman' started by Brendan Burgess, Mar 31, 2016.

  1. Brendan Burgess

    Brendan Burgess Founder

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    From the Annual Review released today

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  2. Brendan Burgess

    Brendan Burgess Founder

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    People are making fewer complaints to the FSO.

    Is this because, people are less likely to make complaints when things are improving or because the financial institutions are dealing with the complaints early so that the customers don't need to go to the FSO?
     
  3. Brendan Burgess

    Brendan Burgess Founder

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    upload_2016-3-31_15-1-22.png "
    1,731 complaints were closed in 2015 due to no further contact from the Complainant. In the case of
    almost 1,500 of these, the complainants had either not yet complained to their financial service
    provider or had not provided sufficient information to the FSO to enable the case to be progressed
    and did not respond when further information was sought by the FSO. This is an area of particular
    concern that is being addressed through new processes for dealing with complaints, better
    communication with complainants and potential complainants, and better data collection and
    reporting.
    We also propose to work with consumer representative and advocacy bodies to create a greater
    awareness of the role of the office generally and a better understanding of our processes."
     
  4. Brendan Burgess

    Brendan Burgess Founder

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    Most of the banking complaints were mortgage issues

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    1203 for mortgages and 1,182 for all other issues combined.

    This is not surprising due to the impact of a mortgage claim and the publicity surrounding tracker issues.
     
  5. Brendan Burgess

    Brendan Burgess Founder

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  6. Jumpstartdublin

    Jumpstartdublin Frequent Poster

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    Can only speak for one financial institution listed. They settle majority of cases with a typical 100-250 euro offer to complainant after matter referred to FSO. They are committed to reducing complainants advancing to formal investigation. Pity they don't try to actually assist customers before going to FSO. Are such cases listed on the data provided in stats
     
  7. twofor1

    twofor1 Frequent Poster

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    They can only settle if the complainant agrees.

    Following the complaints procedure with a provider and then continuing on to the FSO requires determination, patience and a bit of work, I would be surprised if many complainants at that stage would accepted an offer of €250, my guess is most would see it through to adjudication rather than accept such a token gesture.

    I believe many are made reasonable offers at that stage, and accept.

    3.2 Settled Complaints A total of 822 complaints (17% of the total closed) were settled by agreement between the complainant and the financial service provider as they progressed through the office. In the case of just over 300 complainants, financial service providers changed their position and reached a resolution with complainants after this office issued a summary of the complaint to the provider seeking responses to specific questions.

    Page 9 here; https://www.financialombudsman.ie/documents/2015 Annual Review.pdf

    The case I was involved in, the provider was adamant that they would not pay and sent detailed letters, including their final response, explaining why they could not pay.

    A complaint went to the FSO, who accepted and asked the provider a number of specific questions, that was as far as it went, the provider did an immediate u turn and offered to settle for the full €30K+, if we withdraw our complaint.
     
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