Payment Protection Insurance

Customer Experience and opening a new bank

Published on: September 13, 2013
Author: Epticablog

This week saw the re-emergence of a new name in British banking, with the creation of TSB. Formed from 600 branches of Lloyds Group, it has 5 million customers and promises to focus on local customers and businesses.The divestment of the branches was mandated by the EU as part of the state bailout of Lloyds during the banking crisis. Originally due to be sold to Co-Operative Bank, when that deal f...

Improving the banking customer experience

Published on: June 14, 2013
Author: Epticablog

Customer service at banks is again in the spotlight. Firstly, an undercover reporter from The Times found shortcomings at one of Lloyds Payment Protection Insurance (PPI) complaints handling centres. Staff were allegedly being taught to reject potential complaints and ignore potential fraud by Lloyds salesmen. The bank has said that it identified shortcomings independently and has retrained staff ...

Banking on change

Published on: January 30, 2013
Author: Epticablog

The UK banking industry has often been criticised for complexity, high charges and poor choice for consumers. From misselling Payment Protection Insurance (PPI) to IT problems at RBS/NatWest there have been a steady stream of issues that have weakened consumer confidence in the banking sector.Many have pointed to a lack of choice and the perceived difficulty of switching accounts as being responsi...

Commissions and customer service

Published on: September 07, 2012
Author: Epticablog

The financial services industry is currently facing major issues when it comes to customer service. Following scandals such as the misselling of products such as Payment Protection Insurance (PPI) and major technology problems at RBS, consumer confidence is at an all time low. No wonder that an increasing number of customers are looking to take their business elsewhere.As part of its remit to prot...

Counting the cost of poor banking customer service

Published on: June 01, 2012
Author: Epticablog

A lot of people in the UK pick a bank in their teens and then stay with them for the rest of their days. They may grumble – and even seek compensation when miss-sold products such as Payment Protection Insurance (PPI), but generally changing is seen as an unnecessary hassle, particularly as what banks offer is viewed as pretty similar.However new research shows that customer patience is wear...

Putting the customer first in financial services

Published on: February 27, 2012
Author: Epticablog

When it comes to poor customer service, companies selling financial products, from insurance to bank accounts never seem to be out of the news. Hot on the heels of record payouts for the misselling of Payment Protection Insurance (PPI), card and identity protection company CPP is being investigated by the Financial Services Authority (FSA) for ‘alleged failings in sales calls’.Against ...