Customer Complaints & Grievance
Customer complaints management covers the intake, investigation, resolution and reporting of complaints raised by retail and corporate banking customers. Institutions should maintain an effective process appropriate to their business, customers and applicable conduct requirements.
📌 Complaint Categories
| Category | Examples |
|---|---|
| Service Quality | Long wait times, rude staff, branch/ATM issues |
| Product / Account | Incorrect charges, wrong interest applied, account errors |
| Transaction Disputes | Unauthorised transactions, failed transfers, missing credits |
| Sales & Advisory | Mis-selling of investment or insurance products |
| Digital / Technology | Mobile app failures, internet banking errors, data issues |
| Staff Conduct | Ethical complaints, discrimination, privacy breach |
| Regulatory / Legal | AML-related freeze, estate account disputes, court order issues |
🛠️ Complaint Handling Workflow
Stage 1 — Intake & Acknowledgement
- Complaint received via branch, call centre, email, online form, or written letter
- Front-line staff logs complaint in CRM system with full details: customer ID, date/time, channel, nature of complaint, and supporting documents
- Acknowledgement sent within the institution's documented service standard
- Complaint assigned to owning department (e.g. Operations, Retail Banking, Wealth) based on category
Stage 2 — Investigation
- Case owner reviews relevant records: transaction logs, call recordings, account history, advisory notes
- Internal stakeholders consulted as needed (Compliance, Legal, IT, Product)
- Root cause identified; resolution options assessed
- For financial disputes: remediation amount calculated if error confirmed
Stage 3 — Resolution & Response
- Resolution communicated within the applicable regulatory timeframe or the institution's documented service standard
- If resolved in customer's favour: corrective action executed (refund, reversal, compensation)
- If not resolved in customer's favour: rationale explained clearly in writing; customer advised of escalation options
- Case closed in CRM with resolution code and root cause category
Stage 4 — Escalation
- If customer remains dissatisfied: escalate to Customer Experience / Complaints Head
- Customer may refer unresolved disputes to FIDReC (Financial Industry Disputes Resolution Centre) — bank must cooperate fully
- Regulatory complaints (e.g. MAS, Consumer Association) tracked separately with mandatory Board / Senior Management visibility
⏱️ Service Level Agreements
| Complaint Type | Acknowledgement | Resolution Target |
|---|---|---|
| Simple service complaints | Internal target | Internal target |
| Transaction disputes | Internal target | Applicable dispute rules and internal target |
| Investment or advisory complaints | Internal target | Based on complexity and applicable requirements |
| Regulatory / Legal | Applicable requirement | Applicable requirement |
📊 Reporting & Governance
- Monthly complaints dashboard reported to senior management: volume by category, SLA adherence, recurring themes
- Quarterly complaints trend analysis presented to Board Risk Committee
- Systemic issues (same root cause appearing across multiple complaints) escalated to process owners for remediation
- Regulatory complaints data submitted where required for the institution and business activity
- FIDReC cases tracked separately; outcomes and costs reported to Legal and Compliance
📋 Compliance Requirements
- MAS Guidelines on Fair Dealing (FAA): banks must handle complaints fairly, promptly, and transparently
- MAS Notice on Unsecured Credit (for card disputes): specific timelines for investigation of unauthorised transactions
- Personal Data Protection Act (PDPA): customer data accessed during investigation must be handled appropriately; no unauthorised disclosure
- Complaint records retained under applicable legal, regulatory and institutional retention requirements
- All staff involved in complaint handling must complete annual training on complaints procedures