(FCA Complaints Data – 01 July 2017 to 31 December 2017)
In line with the FCA complaints data reporting requirements, figures published today by Santander UK reveal there were 183,758 complaints received by the bank during the second half of 2017. This is a 13.1 per cent increase on the number reported for the first half of 2017. This increase is partially driven by an uplift in PPI related complaints following the FCAs announcement and advertising campaign launched in March 2017, confirming the deadline for PPI claims to be made by 29 August 2019.
Over recent years, Santander has simplified its processes and systems, working hard to ensure that customers have easy access to the right products to suit their needs, fulfilling our commitment to help our customers and businesses prosper, whilst being a bank that is simple personal and fair.
During the last year we have continued to transform our customers’ digital experience, launching a series of new products and services, including a mortgage video service allowing customers to apply for a mortgage using a video link, connecting them to a UK based Mortgage Adviser, from the comfort of their own home. We have also launched our Investment Hub, enabling people simple and secure access to investing.
Enhancements have continued across our branch network, with 46 branches set to be refurbished during 2018 with state of the art digital facilities, and an innovative design to place the customer at the centre.
We work hard to create a positive work environment for colleagues, providing training and resources, so that they can in turn deliver excellent support to customers. Santander has been recognised externally as one of the top 25 large companies to work for in a list published by the Sunday Times. Alongside this, we have also secured Top Employers’ UK and Top Employers Europe certification.
Reza Attar-Zadeh, Head of Customer Proposition and Experience at Santander said: “Helping people and businesses prosper through providing simple, personal and fair products and services lies at the heart of our business. Working hard to offer customers a seamless experience and excellent service is fundamental to the way we operate."
“We continue to focus on how we can best support customers and deliver them value. We know we still have more to do and we remain unwavering in our commitment to deliver an exceptional customer experience.”
- Ends -
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Notes to Editors:
Numbers of complaints
| Number of complaints opened by volume of business | ||||||||
|---|---|---|---|---|---|---|---|---|
| Product/Service Group | Provision (at reporting period end date) | Intermediation (within the reporting period) | Number of complaints opened | Number of complaints closed | Percentage closed within 3 days | Percentage closed after 3 days but within 8 weeks | Percentage Upheld | Main cause of complaints opened |
| Banking & Credit Cards | 5.3 per 1000 accounts | N/A | 133,962 | 132,027 | 72% | 27% | 44% | Other general admin / customer service |
| Home Finance | 9.0 Per 1000 balances outstanding | N/A | 11,236 | 10,743 | 57% | 42% | 62% | Other general admin / customer service |
| Insurance & Pure Protection | 56.9 Per 1000 policies in force | N/A | 34,382 | 41,221 | 1% | 74% | 62% | Unclear guidance / arrangement |
| Decumulation & Pensions | N/A | N/A | 64 | 64 | 16% | 38% | 47% | Unsuitable advice |
| Investments | 4.3 per 1000 client accounts | N/A | 1,320 | 1,453 | 2% | 72% | 43% | Unsuitable advice |
| Credit Related | 7.6 per 1000 loans | N/A | 2,794 | 2,759 | N/A | N/A | 51% | N/A |
- We put the complaints figures into context using ‘per 1000’ metrics so that comparisons can be made across firms of different sizes.
Helpful notes to explain the data:
- The 'Provision' metric is used when a firm is the product provider, using the total volume of accounts held as at the end of the reporting half (31/12/2017). The 'Intermediation' metric is used when a firm is only responsible for selling the product (but isn't the provider), using the volumes of sales made during the reporting half (01/07/2017 to 31/12/2017).
- For the 'General Insurance & Pure Protection' and 'Investments' product groups, while Santander UK is responsible for selling the product, we have used the provision metric to provide more meaningful context, as we did for H1 2017.
- Decumulation, life and pensions products - Santander continues to resolve complaints relating to the advice provided at point of sale for a variety of different historic group companies. Santander had stopped advising on or selling any of these products by June 2011 and they are now either owned or administered by 3rd party firms.
- The 'Provision' metric is used when a firm is the product provider, using the total volume of accounts held as at the end of the reporting half (31/12/2017). The 'Intermediation' metric is used when a firm is only responsible for selling the product (but isn't the provider), using the volumes of sales made during the reporting half (01/07/2017 to 31/12/2017).
Santander UK is a financial services provider in the UK that offers a wide range of personal and commercial financial products and services. It has brought real competition to the UK, through its innovative products for retail customers and relationship banking model for UK SMEs. At 31 December 2017, the bank serves around 14 million active customers with c19,500 employees and operates through 806 branches (which includes 61 university branches) and 64 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
About Us
Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful market share in 10 core countries in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. At the end of 2017, Banco Santander had EUR 986 billion in customer funds (deposits and mutual funds), 133 million customers, 13,700 branches and 200,000 employees. Banco Santander made attributable profit of EUR 6,619 million in 2017, an increase of 7% compared to the previous year.
Media Enquiries
Cecilia Cran T: 020 7756 4209 M: 07789 651 947 E: cecilia.cran@santander.co.uk
Andy Smith T: 020 7756 4212 M: 07824 473 338 E: andy.g.smith@santander.co.uk
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