Financial services firms must listen to the feedback their customers give in order to stop the "cycle of scandal" that has beset the industry, the Financial Ombudsman Service's (FOS) chief ombudsman has said.
Natalie Ceeney (pictured) claimed in today's issue of Ombudsman News that firms tend to write off customer complaints when they could use the feedback to improve the firm's reputation and standing in the marketplace. She wrote: "Last year the regulator reported that over five million complaints were made about financial businesses. "That's five million comments and observations on the service provided by banks and other financial businesses. This feedback could inform new ways of working, new products, better services, and a new relationship with customers. "But too often, that doe...
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