Financial complaints have risen by 20% according to latest half-yearly data
1 May 2024
Our newly published data shows the number of financial complaints received in the second half of 2023 rose by a fifth.
The Financial Ombudsman Service’s plans and budget for 2022/23, published today, sets out our plans to invest in change, reduce the time it takes to resolve cases, to become financially sustainable, and to enable us to deliver a better service for customers.
2022/23 will be about investing to make a step change in the performance of the Financial Ombudsman Service, implementing our Action Plan, and continuing to shorten our queues.
In 2022/23, the Financial Ombudsman:
The Financial Ombudsman Service’s 2022/23 budget includes:
Nausicaa Delfas, Chief Executive and Chief Ombudsman at the Financial Ombudsman Service, said:
In the last financial year, we took significant steps to put the Financial Ombudsman Service on a better path for the future. We published our Action Plan, together with our Periodic Review, and have been driving down our backlog of cases.
In the next financial year, we will be investing to make a step change in performance, by developing our technologies and implementing our new operating model. The changes we make will help deliver a better service for all our customers and will allow the organisation to become financially sustainable for the future.
The Financial Ombudsman Service was set up by Parliament to resolve individual complaints between financial businesses and their customers on a fair and reasonable basis, as an alternative to the courts. It can look into problems involving most types of money matters from payday loans to pensions, pet insurance to PPI. It is committed to sharing insight and experience to encourage fairness and confidence in financial services.
1 May 2024
Our newly published data shows the number of financial complaints received in the second half of 2023 rose by a fifth.
8 April 2024
Welcome to the latest edition of Ombudsman News. In this edition, we highlight our Plans and Budget for 2024/25 and changes to our award limits. We also share details of roles we’re currently recruiting for.
4 April 2024
Today we published our final Plans and Budget detailing the next phase of our transformation, whilst confirming the increased caseload we expect in the upcoming financial year.