Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
5th August 2011
Major drop in banking complaints at Lloyds Banking
Lloyds Banking reports a success in reducing the number of FSA reportable complaints by 24%. A contributory factor in this is the ending of PPI insurance and the agreement to settle all the PPI complaints. That having been said the number of banking complaints fell by over 21%.
This reduces the rate of banking complaints per 1,000 customers to 1.7, down from 2.1. None of the top 10 UK banks had a rate per 1,000 below 2 for the second half of 2010.
Lloyds reports also:
- over 90% complaints sorted at first touch in branch or over the phone Robust checking to ensure every complaint is recorded.
- Product and service areas of the business analysing issues and thereby getting to the root cause and fixing them.
- Senior leaders spending a day per month working in complaints teams understanding and resolving complaints.
- Caseworkers ensure that a named individual from a dedicated customer service team manages a complaint from start to finish in close contact with the customer.