FSO Report for 2016

Discussion in 'The Financial Services Ombudsman' started by Brendan Burgess, Mar 31, 2017.

  1. Brendan Burgess

    Brendan Burgess Founder


    Many complaints are also resolved through Dispute Resolution by the payment of customer service award, goodwill gesture or compensation payments.


    Compensation paid in 2016: €1,569,571

    This is in addition to any rectification e.g. restoring a person’s tracker

    In 2016, 1,800 complainants got some form or redress either through mediation or adjudication
  2. Brendan Burgess

    Brendan Burgess Founder

    How the process is getting better...

    we began a three-year change programme on the 1st of February 2016. The main focus for 2016 was on the introduction of a new dispute resolution service. In 2017, the change programme will focus on the new investigation and
    adjudication processes and next year will focus on outreach and awareness.

    A New Dispute Resolution Service

    Following the feedback, we introduced a dedicated dispute resolution service on the 1st of February 2016 to resolve disputes through mediation at an early stage and with the minimum formality necessary. This is what the vast majority of
    complainants want. It means we now undertake more direct interactions with both consumers and providers to deliver a faster and more effective service.

    Mediation, by telephone and email and through meetings, is now the first and preferred option for resolving complaints. By engaging with the parties
    directly, and quickly, it is possible to achieve a timely and satisfactory resolution most of the time.

    A total of 2,378 complaints were resolved through mediation between the 1st of February and the end of 2016. In addition to being more user friendly, mediation is also quicker. 46% of those who successfully resolved their complaint through the
    dispute resolution service had their complaints resolved within two months and 56% in less than three months.
  3. Brendan Burgess

    Brendan Burgess Founder

  4. Tedtalk

    Tedtalk Frequent Poster

    While many of the FSO tracker decisions were before the current FSO's time, it would be good to see the number of tracker appeals that were rejected by his office that have now overturned by the CB.
  5. Dan Murray

    Dan Murray Guest

    Hi All,

    Just wondering whether it is possible to view the adjudications/determinations of the FSO - is there a link?