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ifs University College responds to FCA action on banking complaints

21 October, 2015

Following the publication of FCA figures into complaints made against financial services organisations, ifs University College, the leading provider of professional qualifications to the industry, has highlighted the need for firms to ensure their complaints-handling staff have high levels of knowledge and skills. 

According to the data, customer complaints against current accounts and pensions have seen the biggest rise in the previous six months, despite initiatives to both improve competition in the current account market and introduce greater freedoms in the pensions industry.

Commenting on the figures, Martin Day, Vice Principal at ifs University College, said:

While the banks and other financial services organisations have taken great strides in recent years to tackle the number of complaints they receive, today’s figures and the FCA’s response shows that the regulator believes more needs to be done among complaints-handling teams to bring better resolutions for customers.

Having worked with banks and other major financial institutions to improve the complaints-handling process, ifs University College has consistently seen that developing skills through  professional qualifications is one of the most effective ways in which staff can enhance their understanding and deliver best practice, resulting in positive outcomes for all.”

For more information on ifs University College’s complaints handling qualification, please visit: http://www.ifslearning.ac.uk/specialist-qualifications/complaints-handling