Online customer complaint management service for FS industry launched

Source: (MMC) has today launched the first ever online customer complaint management service for the financial services industry.

The service is internet-based and instantly accessible for £55/month for most firms. revolutionises the way in which financial services companies of all shapes and sizes can manage customer complaints and feedback without the high cost associated with traditional software solutions. Firms can try before they buy with a free trial.

Using, any firm which receives more than 30 complaints per month will benefit from much greater transparency and clarity over its complaints handling processes.

With, you can view, track and respond to complaints at any time of the day by a computer or handheld device. The integrated approach allows businesses to capture all types of customer complaint whether by phone, letter, fax, email etc. in one easy to view application. This enables companies to adopt a proactive approach to managing customer complaints.

Andrew Aldred, marketing manager at, states: "In a regulated environment, complaint management is crucial. Complaints have never been higher on the agenda in the financial services industry. For instance, as part of the FSA's regulatory clampdown, companies will be required to reopen 185,000 previously rejected PPI complaints which were subsequently overturned by the Financial Ombudsman to assess whether the decisions made had been fair. The FSA estimates that this will result in up to £195 million being paid in compensation to consumers. MPPI is also under close review."

Anyone who can use email can start using immediately - and the information can be viewed by business partners if desired - which means that even the smallest firm can log, manage and report on every comment a customer makes. For example, a firm can improve the speed and accuracy of complaint logging and response times, enabling it to capture complaints and feedback at the first point of customer contact.

Aldred adds: "Previously, it was wrongly assumed that only the big banks and the largest lenders could afford a specialist customer complaint management solution and benefit from tracking and handling customer feedback. However, it is essential that all market participants - whatever the size - are adhering to best practice in terms of dealing with complaints. In the current economic climate, and with regulation on the increase, you can't afford to get complaints management wrong. now enables firms to build stronger relationships and use this information to take their business forward. You don't need to be big to benefit."

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