• Governance
  • Financial Consumer Protection Framework

Financial Consumer Protection Framework

We have a Customer Assistance Program (CAP), which was established by the Customer Experience Management Office (CXMO) to institutionalize guidelines that will help ensure that feedback from existing and potential clients are handled appropriately, as required by the Bank’s consumer protection policies. The designated Customer Assistance Officers (CAOs) have undergone onsite training so that they are equipped to address customer issues and ensure compliance with the Bank’s Consumer Protection Program. There is a continuous information and education campaign on the Financial Consumer Protection (FCP) Program to help propagate awareness. In 2018, CXMO conducted roll-outs and on-site training on FCP and alignment meetings with the CAOs in various business areas.

As part of the FCP Program, a Customer Feedback Database was created in 2017 and now used to strengthen the role of the frontliners in addressing and reporting customer issues. The complaints data gathered is a vital tool in identifying areas of concern and process improvements.

CXMO, in coordination with the Total Quality and Business Transformation Office, conducts a Service Quality Review (SQR), where various business units present their performance updates on their defined service quality goals to the Bank’s Customer Experience Council, which is composed of the top executives of the Bank. Business process improvements are discussed here to deepen customer engagement and address specific customer needs. For 2018, eight business units underwent the SQR. There are also related policies in place such as the BPI Financial Consumer Protection Program and Complaints Management and Reporting to properly equip our bank personnel in the handling of customer feedback. Preventive measures and treatment plans from business units with top customer concerns are discussed in the Service Quality Review (SQR) appropriate service improvements and customer satisfaction.

As part of our CAP, different touch points or channels are in place where clients can file their feedback. These include our Contact Center via phone, e-mail, and social media accounts, Customer Care, branches, and the business units. Our employees are guided by the internal bank policies in handling complaints and CAP where client feedback, specifically complaints, are classified with corresponding turn-around-time which are responded accordingly.

We continuously track and monitor customer issues and feedback concerning our products and services. Action plans were implemented to ensure that the most pressing and important issues raised by clients were resolved within the committed turnaround times. Compliance rate for complaints resolution to our internal turnaround time was 93% in 2018, up from 85% in 2017. As of year-end 2018, from the complaints received for 2018, 99% have been resolved. The enterprise-wide complaint report is regularly reported to BPI Management. Complaint intensity decreased by 9% from 2017 to 2018. This is calculated as every one complaint per 1,000 transactions.

Since the establishment of the Framework in 2017, we have substantially complied with product and service information and labeling regulations and/or voluntary codes. In 2018, there were no confirmed incidents of non-compliance.

Read here to know more of our client engagement activities.

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