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Huntswood was engaged by a large UK Financial Services firm after experiencing a significant rise in complaints
SCENARIO:Â
Our client was experiencing recurrent spikes in irresponsible lending complaints due to increased complaint management company (CMC) activity and media campaigns. At the same time, our client was seeking to relocate its complaints administration function back onshore following an internal efficiency review. Huntswood was engaged to take ownership of all of the client’s BAU complaint handling on an outsourced basis.
We improved the client's acknowledgement process, reducing processing time, and customer enquiries following acknowledgement. Improved RCA on CMC submissions allowed for regular dialogue between the firm and CMCs, reducing duplicate submissions. RCA on furthers / re-opened cases allowed us to make improvements to customer templates and responses, which resulted in a 3% reduction in chasers /furthers received.
15% improvement
in timings for acknowledgement
A review by Huntswood of the investigation process saw FOS referral rates reduce by 44% between January and June 2020
44% fewer
FOS referrals
We automated the FOS submission process, resulting in a 40% reduction in processing time (20 minutes per case).
40% reduction
FOS processing times
Huntswood implemented a robust quality checking framework and improvedadherence to policy and process guidance, providing learnings and feedbackto continuously improve associate performance and, as a result, customer outcomes.