UsefulFeedback! for Financial Services is designed specifically to deliver effective handling and management of consumer complaints and inquiries and also support the wider compliance activities of your organization.

An easy to use, cost effective and intuitive system, UsefulFeedback! complaints and inquiries management for financial service providers, makes it easy to capture, categorize, manage, track and report on complaints and inquiries regardless of where and how they are submitted to your organization.

Financial services organizations continue to face increasing challenges when dealing with complaints and inquiries. Not only is there a complex regulatory environment and customers who "know their rights", there is also the lasting economic uncertainty which makes consumers prone to focus on even the slightest issue. We understand your problems and the impact they have - for example, the volume and complexity of complaints you have to deal with. We appreciate the cost of investigating complaints, as well as the level and cost of retrospective corrective actions and redress. And we know the penalties for getting it wrong can be very severe.

Strengthen compliance - easily and effectively

The Dodd-Frank Act introduced new challenges for financial services and created the Consumer Financial Protection Bureau (CFPB) that is bringing greater attention to the complaint handling activities of financial services providers across the USA. The potential to act in violation of state and/or federal law or regulation in the financial services sector, makes it tough to deal with complaints and inquiries in the strategic manner that's right for your business. But poor complaint handling is not only a compliance risk - it can also damage the reputation of your business.

So we've built an application that takes care of it for you. With UsefulFeedback! for Financial Services you will be able to respond to complaints and inquiries across your organization as the software is flexible enough to cater for the variety of workflow requirements across differing departments and users - and also any third-arty service providers. What's more, throughout the entire complaints and inquiries handling procedure, both the board of directors and management can see the precise stage and status of any issue as well as access comprehensive management reporting to pinpoint both success and failure points.

UsefulFeedback! for Financial Services also gives you all the data you need to demonstrate to regulators that you are compliant when responding to consumer complaints and inquiries.

Industry features

Streamline and simplify the complaints and inquiries handling process around the entire organization, including third-party service providers
Increase first contact resolution rates for complaints and inquiries
Provide complete and timely responses to consumers - and third-parties such as regulators and local BBBs
Capture full, accurate and standardized information with automatic classification of complaints and inquiries to meet organization or regulatory requirements
Promptly identify and escalate any complaints that allege deception, unfair treatment, unfair discrimination or other significant consumer injury
Monitor and identify issues that may require changes to products, procedures and/or training - and track corrective actions through to completion
Reduce duplication of activity and the number of interaction points
Collate and provide management information and accurate regulatory returns at the click of a button

Core functionality

Enterprise-wide - rich tools delivered to those staff regularly handling complaints and inquiries but a simple email and web form based interface for all other staff less frequently involved in those processes - dramatically reducing training needs
Online contact forms - allowing customers to quickly and simply submit complaints and inquiries from your website
Social media monitoring and engagement - assess, analyse and respond where necessary to customer comments found across a variety of social media sites
Easy to use contact management interface - giving staff the tools to quickly and efficiently capture complaints and inquiries and track progress on behalf of a customer
Automated case assignment - unresolved customer cases are automatically allocated to the relevant team for prompt handling and resolution
Intelligent workflow - prompting case handlers to carry out the right action at the right time
Multi-lingual correspondence templates - giving case handlers the ability to correspond by email or by letter in the customer's own language
Root cause analysis - comprehensive and industry-specific root cause classifications supported by threshold alerts are included allowing you to make a quickly understand and address underlying causes
Geodata options - cases can be linked, using a map interface, to a specific location - providing a wealth of opportunities for improved management of area-based case loads and better understanding of customer issues

Current available configurations

Templates are available for: