A note from Helen Rose, Chief Operating Officer
Today, we published our FSA complaints data for the second half of 2015.
As more and more customers choose TSB, particularly for our current account and mortgage products, we are pleased to see that our banking and credit card reportable complaints numbers (excluding some legacy products which were sold before TSB separated from Lloyds Banking Group) remained stable in the second half of 2015. When excluding legacy products, we reported 0.9 complaints per 1,000 bank accounts or, when legacy products are included, 1.7 complaints per 1,000 bank accounts.
One complaint will always be one too many: but we make sure we listen to all of our customers and learn from each and every piece of feedback we receive, every time we have got it wrong. This is valuable feedback and should be treated as such. When we let customers down, we won't give up in trying to resolve a complaint as quickly as possible, as well as looking at new ways to prevent any issue from re-occurring.
In 2015, we continued to listen to customers. This resulted in TSB introducing new and enhanced services, in particular we focused on providing bespoke customer training for all our partners in our branches and our call centres to provide our customers with great local banking.
These sorts of changes are being noticed as more customers than ever before are not only choosing to manage their money with TSB, but also recommend us to friends and family. It's encouraging to see our Net Promoter Score, which is how we measure our performance on customer advocacy, has increased over the year. In June, eight out of 10 customers rated us good, very good or excellent and this had risen to nine out of 10 by December.
I am always interested in hearing about our customers' experiences, so if you would like to get in contact with us, you can fill in our complaints form.
The Financial Ombudsman Service (FOS) also measures and reports on banking complaints. The role of the FOS is to reach a fair and reasonable decision about the complaints it reviews. Compared with the first half of 2015, we saw a four per cent reduction in customer complaints handled by the FOS. If you are interested in how TSB measures up, you can find out further information on FOS complaints data.