FNB welcomes the release of the 2024 National Financial Ombud Scheme Banking Report which shows that the Bank has improved year-on-year across key metrics. According to the report, FNB achieved significant reductions in formal complaints (10%) and premature complaints (12%) lodged against the bank at the National Financial Ombud (NFO) in 2024.
Furthermore, with an average of 43 days, FNB outperforms the industry average of 52 days on the turnaround time for NFO Banking Formal complaints; and at 28% FNB outperforms the 44% industry conversion rate of premature complaints to formal complaints. Moreover, 84% of the NFO’s rulings in 2024 were in favour of FNB – far above the industry average of 79% of NFO rulings in favour of the Bank (IFOB) at the NFO Banking division. In all of these metrics FNB has improved from 2023 to 2024.
“The Ombud’s role in South Africa’s financial services industry is critical in assisting both banks and customers resolve disputes and ensuring that the whole industry is held accountable and to a higher standard. While cases taken to the Ombud represent a small portion of our customers’ overall experience, each one of them are important to us as we place tremendous value on each of the outcomes prescribed by the Ombud,” says FNB CEO Harry Kellan.
“While we’ve been able to perform well-above industry averages on turnaround times, conversion rates and rulings, our real focus is on improving our own performance, year-on-year, and providing the best possible service to our customers so that they can focus on building financial wellbeing, prosperity and achieving their finance goals. We also remain eager to listen to our customers and are committed to doing more to consistently improve their overall experience, including complaints and dispute resolution,” adds Kellan.
FNB offers several channels to engage with customers, including its industry-leading Secure Chat feature on the free FNB App. In addition, customers can also contact FNB’s contact centre, local branch, or relationship banking channels to engage on their feedback.
