How We Helped Our Large Banking Client Reduce FOS Exposure

The challenge

As part of Claims Management Companies (CMC) drive towards the PPI complaints deadline our client had incurred a significant increase in the number of regulated ‘advice’ complaints; a backlog had formed and there was a large number of complaints breaching regulatory guidelines and creating exposure to FOS referral fees.

The aims of the project were to:

  • Provide experienced resource
  • Ensure the resource achieved the required competence levels
  • Provide management oversight, delivering required production to the desired quality standards, and adhere to existing complaint handling policy, and T&C requirements
  • Identify opportunities to improve the existing process
  • Create a ‘buffer’ to reduce the operational impact of necessary recruitment and training of new staff

The solution

Our Relationship Management team was already familiar with the client’s operation and understood the regulatory framework. Our client could focus on the key deliverables as they knew we were completing the work in a compliant manner.

We mobilised a team of 22 experienced and qualified reviewers within a week – many of whom had supported the same client on previous Davies Resourcing engagements. We restricted the number of managers to a minimum to create a versatile unit with a "hands-on" approach.

The outcome

Despite the volume of complaints increasing, the project team ensured the volume of customers awaiting a response reduced to acceptable levels.

The percentage of cases breaching regulatory timescales for resolution reduced dramatically and the number of cases being resolved at the point of entry was increased.

This success was due to improved efficiency gained through the suggestions made by our team. Each person was completing double the number of cases to the required standard.

Our team tackled the ring-fenced backlog of complaints during a 3 month engagement allowing the regular team to focus on the ‘normal’ incoming volumes.

  • 52%

    Reduction in cases breaching regulatory timescales

David Leen

Client Director

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" Davies Resourcing is different to many other consulting businesses. They value the importance of building genuine long term relationships and have deep sector knowledge far beyond what I have experienced with other organisations."

Head of Complaints