BANK consumer rights and awareness has increased considerably with 268,325 complaints resolved in two years.
The numbers, according to Bank of
Tanzania, showed fruits of establishing of a complaint desk at each bank
and main desk at central bank that deals with referral complaints.
Data show that a total of 274,044
complaints were registered during the period and 268,325 were resolved,
depicting that over 500 complaints are settled by some 60 financial
institutions a day or over 11,000 a month.
On other hand, trend tells that
discipline in resolving consumers’ complaints has improved among
commercial banks in two years after the establishment of special
Complaints Resolution Desk at BoT.
The BoT Deputy Governor, Financial
Stability and Deepening, Dr Bernard Kibesse, said the establishment of
the Desk has served as a catalyst for banks to put in place or upgrade
their internal complaints handling mechanisms to better address
consumers’ complaints.
“There is no doubt, in its two years of
operation, the Desk has become an important part of ‘soft’
infrastructure of our banking industry as it responds to the needs of
many banking customers,” he said during the stakeholders’ workshop on
consumers’ complaints resolution held in Bagamoyo, Coast Region over the
weekend.
A total 274,044 complaints were received
by banking institutions as at end of September, 2017 and 268,325
complaints have been disposed of to the satisfaction of complainants. A
total of 5,325 complaints remain pending or in progress some of which
have been received at the Desk for further review.
Most of the complaints were related to
the use of ATMs, loans and advances, cheque and online banking. He said
customer service and delivery of services have improved significantly,
thus forestalling possible visits to the Desk. He said some banks have
established call centres as a result of increased number of complaints
and desire to address complaints more efficiently and effectively.
The current scheme involving the Desk
has dramatically lowered the cost, and addressed the complexities
associated with Courts of law. It has also introduced breath-taking
efficiency and effectiveness in dealing with consumer complaints.
While championing the rights of
consumers of banking services, the Desk has played a balancing game,
underscoring the responsibilities of consumers whose complaints have
been deemed to have no merit.
It is the consumer’s responsibility, for
example, to provide complete and accurate information on his financial
status, to read carefully and understand the agreements he signs and to
take responsibility for his financial decisions.
This scheme has also been of tremendous
benefits to banks as complaints provide feedback for improvement and
thus banks ought to take consumer’s complaints as opportunity for
changes in the way they conduct business.
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