Financial services businesses can benefit from getting complaints as they provide valuable feedback on how the firm is doing, acting chief executive of the Financial Ombudsman Service (FOS) Tony Boorman has said.
Writing in the latest issue of the Ombudsman's newsletter, Boorman said the FOS has "no axe to grind" and wants to help firms make the most of the complaints they are getting. He advised firms to not get "too fixated" on the complaints numbers the FOS issues periodically and instead learn from the judgements involved in solving the complaints. For instance, complaints data can help a business identify the areas or products that "really get up people's noses", he suggested. Boorman said: "Of course we publish a great deal about how many cases we receive - and our uphold rate. And at...
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