Sept 25: Huntswood, a ResultsCX company that delivers resourcing, outsourcing and advisory services from complaints to customer service, remediation to resilience, has launched Complaints360, a new integrated complaints solution that will help organisations transform complaints into customer loyalty. Huntswood helps manage over 280,000 complaints for UK financial services companies, which includes investment firms, every year.
Complaints360 has been built on the foundations of Huntswood’s extensive complaints handling expertise. For more than 30 years, the company has helped UK organisations improve the way they manage complaints.
Financial advisers, wealth management and investment firms are under increasing pressure to deliver consistently good customer outcomes as regulatory expectations continue to evolve, client expectations rise and firms navigate increasingly complex advice, investment and servicing journeys.
Research from Huntswood released today, underlines the scale of the challenge facing UK organisations around their handling of customer complaints. The study reveals that around one in three consumers (32%) make a complaint to a UK company over a 12-month period, and around 46% of those who complain make more than one complaint.
Amongst those who say they are complaining more than they did five years ago, 64% cite worsening service or poor product experiences as the main reason, while almost a third (29%) say improved complaints processes have encouraged them to speak up and 22% believe social media and review platforms make it easier to effect change in their favour.
Complaints360 enables organisations to move beyond reactive complaint handling towards a proactive, insight-led model that strengthens compliance, reduces operational risk and improves customer trust.
The comprehensive complaints transformation service blends specialist human expertise, AI-powered technology and scalable delivery. The solution will help organisations deliver good customer outcomes at scale, identify root causes and improve speed and accuracy across the entire complaints’ life cycle.
James Tattersall, Senior Director, Advisory, Huntswood said: “Complaints360 helps firms move beyond simply resolving complaints to understanding and preventing them. By combining experienced complaints specialists with AI-enabled technology, organisations can identify root causes more quickly, improve consistency and regulatory compliance, and use complaint insight to drive continuous improvement across the business.”
Siddharth Parashar, Managing Director, UK & Europe, Huntswood/ResultsCX said: “For financial advisers and investment firms, every complaint represents an opportunity to strengthen client relationships and improve the quality of advice and service. In an industry built on trust, how firms respond to complaints is just as important as how they prevent them.
“The FCA’s Consumer Duty has placed an even greater emphasis on delivering good customer outcomes and demonstrating that firms are learning from client feedback. Complaints can reveal recurring issues with communications, administration, servicing or client journeys that might overwise go unnoticed until they become more significant regulatory or reputational risks.