2017年-FCA英国金融行为监管局_complaints_data_analysis_2017_h1_26页_652kb

Summary of 2017 H1 Complaints Data Analysis

Core Content

The Financial Conduct Authority (FCA) analyzed complaints data for the first half of 2017, revealing key trends and insights into consumer complaints across financial services. The analysis includes data on the number of complaints, their resolution times, and the outcomes for consumers.

Main Points

• Total Complaints: In the first half of 2017, 3.32 million complaints were received by 3,160 firms, representing 20% of the total population of firms that submit complaints returns.
• Majority of Complaints: 97% of all complaints were received by 226 firms that reported 500 or more complaints each.
• PPI Dominance: Payment Protection Insurance (PPI) accounted for 33.4% of all complaints, with 1.11 million complaints reported. This is a 24% increase from 2016 H1.
• Redress Payments: A total of £1.99 billion in redress was paid to consumers in 2017 H1, with over 80% of this for PPI complaints.
• Resolution Times:
  • 43% of complaints were closed within 3 days.
  • 96% of complaints were closed within 8 weeks.
• Uphold Rate: 59% of complaints were upheld, indicating that firms agreed with the complainant. This is slightly lower than the 60% uphold rate in 2016 H2.

Key Information

• Complaints Return Changes: A new complaints return was launched in 2016, capturing all complaints, including those resolved within one business day. This change led to an overall increase in reported complaints.
• Contextual Analysis: The FCA now provides complaints per 1,000 sales or accounts, allowing better benchmarking. Home finance products had the highest rate of complaints at 8.36 per 1,000 balances, followed by insurance and banking at 3.07 per 1,000 policies.
• Top Complained About Products:
  • PPI: 1.11 million complaints
  • Current accounts: 518,579 complaints
  • Credit cards: 309,875 complaints
  • Packaged bank accounts: 203,510 complaints
  • Motor and transport insurance: 240,497 complaints
• Complaints by Reason:
  • Advising, selling, and arranging issues: 43% of complaints
  • General administration and customer service: 38% of complaints
  • Information, charges, or product performance: 19% of complaints
  • Arrears related: 27% of complaints
  • Other reasons: 13% of complaints
• Product Group Analysis:
  • Banking and Credit Cards: 1.29 million complaints, with PPI being the largest contributor. 56% of complaints were upheld.
  • Decumulation and Pensions: 51,412 complaints, with 62% upheld. 38% of complaints were closed within 3 days.
  • Home Finance: 116,715 complaints, with 58% upheld. 51% of complaints were closed within 3 days.
  • Insurance and Pure Protection: 1.8 million complaints, with 61% upheld. 56% of complaints were closed within 3 days.
  • Investments: 65,643 complaints, with 49% upheld. 38% of complaints were closed within 3 days.

Trends and Changes

• The increase in complaints is largely due to the new reporting rules, which now include complaints resolved within one business day.
• The proportion of complaints related to advising, selling, and arranging has decreased, while general administration and customer service complaints have increased.
• Contextualized data shows that certain products, such as packaged bank accounts and second and subsequent charge mortgages, have higher complaint rates than others.
• The FCA continues to monitor these areas and is working to improve complaint handling standards.

Annex Notes

• The new complaints return includes changes that affect the comparability of data between periods.
• Data for certain products may include complaints from past policies.
• The FCA is focusing on improving consistency and fairness in complaint outcomes.