Complaints Programs: Why They Are a Key Risk Mitigant for Your Institution
Complaint management is an essential component of your Compliance Management System (CMS) and is handled by your customer service operations. For this reason, your employees are vital, as addressing customer complaints about products or customer service can be tricky for even the most seasoned employees.
A strong complaints program is not only a means to gather valuable customer insight, but it helps your institution understand risk and make improvements. This should not only lead to strong programs, and protection from reputation risk and regulatory fines, but also increased profitability, and increased customer satisfaction.
