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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.