Surging ahead

22 February, 2006

The Ombudsman for Banking Services (OBS) reported on improvements in the levels of its efficiency and of public awareness of its existence at the release of its annual report for 2005 in Johannesburg earlier today.

In addition to facilitating the payment of R16.2 million by the banks to customers who complained, the OBS surpassed its service standard target turnaround time of an average of 70 days from date of opening to date of closure of the file, with an actual average of 63 days to closure.

The OBS came close to achieving its target of finalizing all files within six months of opening, having finalized 97% of complaints received within that timeframe. This was despite the departure of several key personnel, most of whom left to take up high- level positions in the banking industry.

These are significant achievements, given the OBS's reason for existence, to offer a fair, quick, informal and effective alternative to the courts, free of charge.

The OBS's concerted effort to market itself to all stakeholders paid dividends. A Markinor survey revealed that 63% of bank customers interviewed had heard of the OBS. This was the highest level of awareness of any of the related organizations and it represents a 43% increase over the previous years' result.

The increased level of awareness brought with it a corresponding increase in the number of complaints received. The office fielded 17165 helpdesk enquiries and opened 4 092 new files, representing a 42% increase over the previous year.

The Ombudsman, Advocate Neville Melville, indicated that he had raised his concerns regarding long-standing causes of the joint top two complaints with the Banking Association, "in the hope that the banks will take the appropriate action". Interaction with the banks in this regard is ongoing.

The OBS looks forward to contributing to a South Africa 'alive with possibility'.