FCA Regulated Complaints Management
27 Aug
The new Consumer Duty regulations came into force on 31 July 2023, which have a direct impact on CHO members who are also regulated by the Financial Conduct Authority (FCA).
All FCA regulated organisations must now show that they have set higher consumer protection standards, and evidence where they are delivering good customer outcomes across four core defined pillars:
· Products and Services
· Price and Value
· Consumer Understanding
· Consumer Support
Complaints, how they’re managed, and the insights they provide are a key litmus test of how a business performs against these standards. Complaints are an authentic, live feedback system from people who use a product or service and are suggesting ways to improve it. Our highly innovative complaint management platform, Forseti, helps organisations to manage and resolve complaints and stay on top of these regulatory challenges.
Forseti revolutionises complaint management for both regulated and unregulated organisations by transforming complaints into valuable business insights. This innovative approach not only addresses the need for compliant and efficient complaint handling, but also leverages complaints to improve products, services, and customer perception. By transforming complaints into actionable insights, Forseti revolutionises how organisations handle feedback, ensuring compliance while driving continuous improvement.
We have used advanced technology, intelligent automation and deep data analytics to deliver an excellent experience for all customers raising complaints, and the operational teams that are in place to manage them. Using technology, we have taken the pain and complexity out of the regulatory reporting process, automating the reports and making them available to clients at the click of a button.
Forseti stands out as an exceptional example of innovation in complaints management, driving regulatory compliance, operational efficiency, and customer satisfaction. By converting complaints into actionable insights, we empower businesses to proactively improve and innovate. Forseti revolutionises how regulated organisations handle feedback, ensuring compliance while driving continuous improvement.
In addition to our technology solutions, we can draw from a significant pool of in-house and external resources, including many complaints SMEs, to design and implement the specific solution that works best for our clients.
We help with the provision of:
· Subject matter experts
· Deep knowledge and experience in the space
· Consulting services, including diligent resolution
· FCA-compliant MI and reporting
To learn more about the assistance Forseti can provide to your organisation, please contact Emma Parrish – emma.parrish@forseticomplaints.com