The opinions expressed here are those of the authors. They do not necessarily reflect the views or positions of UK Finance or its members.

This year’s edition represents a significant evolution in the help it provides to firms looking to unlock the true value of complaints management.

In our previous edition, we looked at the emotional signatures customers display throughout their complaints journeys. The findings were clear: customers who feel valued are more likely to develop genuine loyalty, advocate for brands and contribute to higher retention rates.
Now, in the latest edition, we shift our focus to translating this understanding into actionable operational improvements, and ensuring insight derived from complaints drives tangible business outcomes.

The evolving complaints landscape
The most prominent observations are that firms are improving their complaints-handling processes, while staff are more consistently employing skills such as empathy and displaying knowledge which instils greater confidence in complainants. 

Despite this, in a digital world, the bar of expectation continues to rise. Today’s consumers, increasingly accustomed to seamless, always-on interactions, in turn expect accessibility and efficiency when dealing with their financial services providers.

While the upward trend in expectations may seem daunting to those responsible for firms’ customer strategies, it also presents an exciting opportunity. Firms that embrace innovation and actively respond to these shifting demands are being noticed. Customers appreciate brands that prioritise effective resolution and demonstrate genuine care, and this goodwill translates directly into loyalty, advocacy and repeat business.

Understanding the value of complaints
Effective complaints management isn’t just about damage control—it’s a strategic lever for growth. Firms that excel in this area often uncover untapped revenue potential, reduce churn, and strengthen their market position. Complaints offer unique insights into customer needs and operational inefficiencies, making them a critical resource for continuous improvement.
To help firms understand the potential that exists within complaints, this year’s edition introduces a preview of the Complaints Calculator, an innovative tool designed to quantify the value that can be unlocked through robust complaints management. By providing a tangible view of the financial and operational opportunities, the tool forms part of the business case for a focus on data-driven decision making.

Effectively learning from complaints
One of the key themes in Complaints Outlook 2024 is the importance of robust root cause analysis. Complaints often reveal issues and opportunities beyond the complaints process itself, pointing to systemic challenges or cultural barriers within an organisation. By addressing these underlying issues and implementing well-governed action plans, firms can drive meaningful change and prevent recurring problems.

While complaints can be emotionally charged and operationally complex, they remain a powerful avenue for building stronger customer relationships. By staying attuned to the contemporary customer perspective and adopting best practices, organisations can transform their approach to complaints from a reactive process into a proactive opportunity for growth.

Preparing for 2024 and beyond
Huntswood’s Complaints Outlook 2024 contains practical advice on refining your operating model, understanding and enhancing your culture around complaints, learning from complaints and using technology proportionately to maximise return on investment.
We invite you to explore this year’s findings and discover how your organisation can harness the power of complaints to deliver exceptional outcomes—for both your customers and your business.