Wednesday, December 1

The Bank of Spain places duties on entities to improve their customer service


The courts specialized in abusive mortgage clauses, created in June 2017 and currently extended until the end of this year, give proof of the magnitude of the problem. Since their birth and until March, they have received 629,663 complaints, of which 394,307 (62.6% of the total) have been resolved, with which there are still 235,356 pending. In addition, in 97.2% of the cases already sentenced, the client was agreed, which makes the outcome of those still in process foreseeable.

As responsible for supervising the conduct of entities that market banking or payment products and services, the Bank of Spain has focused in recent years, successively, on the contracting of mortgages and the protection of mortgages in financial difficulties ; consumer finance; and, during the pandemic, in the correct implementation by the banks of the different debt relief measures (moratoriums) approved by the Government. From these actions, 982 requirements have been derived from the entities between 2016 and 2020 that have meant the return of “relevant amounts” to affected customers, as well as 26 files with sanctions worth 52 million euros.

Way to go

Despite this, the governor has warned the sector that the high number of complaints it continues to receive is “illustrative of the road still to go“In particular, Hernández de Cos has publicly disfigured the banks that still refuse to return the money to those affected in around 30% of the cases in which the supervisory body agrees with the latter:” It would be important from the reputational point of view and improvement of relations with their clients that the entities generally accept the resolutions of the Bank of Spain “.

The governor has announced that his body is preparing a new regulation (circular, in its jargon) to improve and expand information on complaints that entities must provide you. Likewise, it will add to the supervisory process techniques of ‘machine learning’ (automatic learning from artificial intelligence, which allows machines to learn without being expressly programmed for it) and of ‘computer vision’ (artificial vision that helps computers decipher the content of digital images).

In addition, the Bank of Spain published last August a guide on the criteria for the organization and operation of the institutions’ customer service services, which seeks both to improve the processing of customer complaints and claims, as these departments work as a “early warning mechanism and early detection of problems derived from the commercialization of products or services “, warning the entity of the same before they materialize.


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