The number of banking complaints Barclays received in 2011 were down 31 per cent compared to the previous year, a breakdown of Financial Services Authority reportable complaints showed.
In a statement issued today (February 22nd), the bank said the decline was driven by addressing the root causes of complaints, with payment protection insurance (PPI) complaints accounting for a large portion of customer dissatisfaction.
For the six-month period between July and December, Barclays received 146,316 complaints, compared to 162,611 witnessed in the first half of 2011, representing a ten per cent dip.
The group said that the exception to this progress occurred in its general insurance and pure protection categories, for which a majority of complaints related to PPI.
Excluding these complaints, volumes reduced 29 per cent in 2011, amounting to 158,492 in the second half from July to December.
Chief executive of Barclays retail and business banking Anthony Jenkins suggested the dip reflected the bank’s delivery on its commitment to improve customer service.
He said: “We made a commitment to put customers at the heart of our business … We can and will do more to improve service and go further and faster to drive down complaints.”
Mr Jenkins’ claim that the bank will aim to drive down complaints at a faster pace may help to fulfil a call made by consumer watchdog, Which?
The organisation has asked banks to speed up its redress process in relation to PPI mis-selling as it believes claims management companies could apply “hefty” fees for submitting claims on behalf of customers.
Mr Jenkins added: “We are aiming for further significant reductions in underlying complaints in the first half of 2012 as we continue on our journey to get it right first time, every time, for customers.”
New figures from the FSA showed PPI redress totalled £1.9 billion last year, with December payouts hitting a monthly record of £441 million.
Posted by James Harrison