The commissioning of independent reviews is something the board of the Financial Ombudsman Service (FOS) undertakes periodically. On 23 July, the FOS website published a press release stating that another independent review had been commissioned into whether the FOS can continue to meet the needs of its customers, both businesses and consumers.
The review will be split into two parts:
- Phase one: looks at the current operational effectiveness of the service – evaluating our performance and efficiency against our objectives.
- Phase two: will build on phase one and consider the key changes in the external landscape – and how the service must adapt to meet our current and future challenges.
An independent management consultancy will be reaching out to a range of stakeholders as part of the review to ensure they obtain a broad range of input from those that the service work with regularly.
To view the press release on the FOS website, please click here.