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Banks look at new ways to deal with SME complaints

The Business Banking Resolution Service has carried out a pilot study to look at how disagreements between banks and SME customers could be better addressed.  The BBRS has been set up by 7 banks and other stakeholders. The pilot has involved customers registering a complaint, and if the BBRS thinks it suitable for the pilot, it works with the customer to build the complaint and liaises with the bank towards resolution.  Among the complaints that formed part of the pilot are complaints that are still unresolved after nearly 20 years as well as some recent ones.  The study has taken account of the different circumstances of complainants, and noted, for example, that some may not want to scan and email multiple documents, may have significant difficulties finding old documents and others may not have English as their preferred language. The interim findings of the study show a number of valuable lessons are being learnt.

Emma Radmore