19 May 2015
The Financial Ombudsman Service marks its fifteenth anniversary with the publication of its annual review for 2014/2015.
Chief ombudsman, Caroline Wayman, commented:
The world has moved on and changed significantly since I first joined the ombudsman as an adjudicator in 2001. Yet our workload over the last 15 years has been constantly dominated by the past – clearing up the fall-out of the mass claims and mis-selling scandals of the last decade and a half.
But 15 years of sorting out millions of these problems have given us unparalleled experience, knowledge and understanding of why complaints happen – and how they could be avoided in future. That’s why our focus continues to be on complaints prevention and sorting things out pragmatically as soon as problems emerge.
And that’s also why it’s so important that lessons are learned from what’s gone wrong in the past – to prevent yesterday’s problems from becoming tomorrow’s complaints – and to help ensure financial services evolve to meet the needs of today’s customers.
And if you can't quite make it through all 176 pages - you can see all the highlights in this handy 3 minute video.
Statistics from the ombudsman’s annual review show:
Statistics from this year’s annual review show:
the Financial Ombudsman Service: free, fair, for everyone