8th July 2003
In order to help the banking and financial services sector deal with complaints more effectively, the British Standards Institution (BSI) has today published a supplement to its Complaints Management Specification - CMSAS 86:2000.
Organisations that lose customers face an uphill struggle to repair the damage to their reputation. In most business sectors it is generally accepted that it costs at least four times as much to recruit a new customer as it does to maintain an existing one.
The supplement is backed by the Financial Services Authority (FSA) and has been developed in conjunction with complaints/r/great, QCi, The Leadership Factor, and many of the UK's leading banks and financial institutions. It was launched at a seminar at BSI's west London HQ on Tuesday 8 July.
Speaking at the seminar, David Phillips, BSI Management Systems Head of Marketing said: "This is an excellent example of how BSI, the regulatory authority and many of the country's major banking and financial institutions can collaborate to improve an entire sector's working practices."
For more information please contact:
Wilma Tulloch on +44 (0)20 8996 6330 OR
Marc Edney on +44 (0)20 8996 6330