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FCA H2 2023 Complaints Data Posted: Financial Services Firms Receive 1.87M Complaints

2024-05-05 Brokersview

The Financial Conduct Authority (FCA) updated aggregate complaints data in the second half of 2023 (H2 2023) on April 29, 2024.

 

In H2 2023, the U.K. financial services firms received 1.87 million complaints, a decrease of 1% from H1 2023 (1.89 million). 

 

source: FCA

 

The banking and credit cards category experienced an increase of 3.2% from 847,497 (H1 2023) to 874,568 (H2 2023) in complaint numbers. The home finance category saw complaint numbers up 3.7% from 91,470 (H1 2023) to 94,822 (H2 2023). The number of complaints received by the Investment Group in H2 2023 (61,446) was 3.4% higher than the 59,417 received in H1 2023.

 

The percentage of complaints upheld decreased from 61% in 2023 H1 to 58% in 2023 H2.

 

In 2023 H2 the total amount of redress was £259m. This is 10% higher than 2023 H1 (£236m).

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