DISGRUNTLED customers are leaving their banks in droves after being let down by inadequate complaints handling processes.
Complaints have been on the rise during the Covid-19 pandemic with 27 per cent of customers raising issues with their bank or the Ombudsman in the past 12 months.
Survey data from software company
The survey also found one in five said bank fraud was the main reason for their complaint. Almost a third (30 per cent of customers complained to their bank as a result of being charged incorrectly and having a problem accessing their bank account
that
According to
Edler said "cyber fraud has become a rising issue for businesses as well as consumers, especially with the move to remote working and the acceleration of digital transformation."
He urged banks to "improve technology to prevent fraud from occurring" and to "utilise the data at their disposal to address the customer feedback loop effectively."
(c) 2021 City A.M., source