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UsefulFeedback’s complaint management software for Financial Services has been designed to enable US financial services providers to meet the requirements set out in the CFPB’s Supervision and Examination Manual as well relevant Federal and/or State regulations and laws.

The Consumer Financial Protection Bureau (CFPB) is the United States of America’s federal consumer protection regulator of financial services. The CFPB was established in American law by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act). The CFPB’s Supervision and Examination Manual is a guide for examiners to use in overseeing companies that provide consumer financial products and services – including how they should handle consumer complaints and inquiries.

The CFPB also provides a consumer complaints portal – delivering a single website where consumers can file a complaint about a financial product or service. The CFPB will then forward the complaint to the relevant company and track the company’s resolution efforts. All of the data collected on the portal is then also made available as open data – enabling consumers and other interested parties to assess the complaint handling performance of different financial services providers.

UsefulFeedback can also be delivered to drive the management of credit reporting disputes (including Automated Consumer Dispute Verification (ACDV) and e-Oscar related activities), mortgage servicing inquiries and many other complaint-related processes.

An easy to use, cost effective and intuitive system, UsefulFeedback complaints management software for financial services, makes it easy to capture manage, track and report on complaints, disputes, inquiries and feedback regardless of where and how the customer contacts your organization.

UsefulFeedback for Financial Services includes:

  • Workflows and correspondence that are pre-defined to meet the relevant company, state or federal SLAs that may apply when handling and resolving consumer complaints, inquiries and disputes.
  • Granular classification of complaints, inquiries and disputes to enable effective root cause analysis to be conducted to prevent systemic issues from going unnoticed.
  • Simple to use facilities for the capture of complaints, inquiries and disputes to enable logging and tracking from initial contact with contact through to escalated complaint and dispute handling operations.
  • Email, web form, telephony and social media integration tools to enable complaints, inquiries and disputes to be collected from any channel.
  • Full reporting, team-specific dashboards and analysis tools.
  • KPI tracking and measurement.
  • Full support for handling complaints, inquiries and disputes referred by regulatory bodies and/or consumer advocacy groups – with in-built facilities to support the sharing of case file information with the relevant organization.

Click here to book a demo of UsefulFeedback’s complaint management software for CFBP

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