Context
The Financial Ombudsman Service (FOS ) has published an action plan approved by the Board to change and improve the organisation to provide the best service for customers. It is being published in response to an independent Periodic Review commissioned by the Board.
Key points to note
The action plan focuses on five key themes:
- A new operating model to meet a changing environment, making it more effective and efficient to resolve cases more quickly.
- Enhancing technology and digital capabilities, to drive productivity and to make it easier and more efficient for customers to choose how they interact with the FOS.
- Boosting engagement with stakeholders and taking a robust and proactive approach to prevent complaints and unfairness arising to ensure that problems are solved efficiently.
- Developing the current strategy to further enhance the FOS using insights from timely case handling to prevent further harm to consumers.
- Exploring revisions to the funding model to ensure a sustainable future.
Next actions
None- for information and awareness.