The customer has always been king

Increasingly, financial services companies’ commitment to fair and effective complaints resolution is a measure of its worth and its ability to hold onto customers.

The customer has always been king. But, never have they had more power or influence. Today they are more informed, self-assured and knowledgeable. They judge on social media platforms and share opinions indiscriminately. They have customer champions, who petition for better and fairer service and have been touched by mis-selling scandals – including the infamous payment protection insurance (PPI) pay out. They know their rights.

Meanwhile regulators use complaints data as a measure of how an organisation treats its customers. Increasingly, they focus on protecting vulnerable customers, while tasking financial service providers with more onerous compliance requirements than ever before.

The art of customer resolution

KPMG’s complaints handling and financial services industry experts, have joined forces to develop a new paper that shines a light on the ways in which organisations can develop customer resolution processes. It outlines frameworks that:

  • Are robust, auditable and comply with increasingly complex and changing regulatory obligations;
  • Are underpinned by stable and responsive technology for interactions between providers and customers;
  • Analyse data to pick up on customer sentiment and to inform the organisation’s response;
  • Enable rapid resolution of customer issues; and
  • Build customer trust (and rebuilds it where it is broken).

Download our Customer Resolution Guide for the full insights.