FNB welcomes the release of the Ombudsman for Banking Services’ annual report for 2023, which includes the management of disputes between banks and customers. The Ombudsman has acknowledged FNB as the Bank with the quickest turnaround time to close complaints.
According to the report, FNB has a low percentage of referrals convert into formal complaints – which shows that the Bank provides help to customers upon receipt of the referral, and only 37% converts to formal complaints. The report states that this is an indicator of how well banks handle complaints.
FNB’s conversion rate from referral to formal complaint is the best in the industry (only Banks with 50 or more referrals reported), demonstrating its commitment to finding common ground with customers and the value it places in customer relationships. Most cases were decided significantly in favour of the bank, particularly those involving fraud, phishing, and the freezing of accounts when necessary. FNB reflected a 77% ruling of cases found in favour of the bank for 2023.
FNB CEO Harry Kellan says, “The Ombud plays a crucial role in assisting both customers and banks in resolving complaints and disputes. Although the cases brought to the Ombud represent a minor segment of our total customer interactions, we regard the Ombud process and its feedback with great importance. This reflects our dedication to prioritising our customers’ needs. We continually strive to enhance our processes to ensure quicker response times and meaningful resolutions for all inquiries.”
FNB offers several channels to engage with customers including on its award-winning app. Customers can also contact FNB’s contact centre, local branch, or relationship banking channels with service-related questions.
