FNB Triumphs in Complaint Resolution at Final OBS Banking Awards

In what could be considered a crowning achievement, First National Bank (FNB) has been lauded as the premier bank in South Africa when it comes to resolving customer complaints, outpacing its peers at the 2023 Ombudsman for Banking Services (OBS) Annual Banking Awards. The ceremony, held in Johannesburg on November 24, not only celebrated the dedication of banking institutions to outstanding customer service but also served as a significant milestone, being the last of its kind ahead of the banking ombudsman system's reconfiguration next year.

The OBS, an independent non-profit organization, has annually recognized the contributions of banks and their personnel in achieving excellence in dispute handling. The most recent event marked 17 years of this tradition. Come March 1, 2024, the OBS will consolidate with three other voluntary financial ombud schemes—the Long-term and Short-term Insurance Ombudsmen, and the Credit Ombud—into a unified entity. The formation of this new organization is anticipated to streamline dispute resolution within the financial services industry.

Reana Steyn of the OBS emphasized the importance of cooperation from all banks to reach the objectives in their line of work and noted the standards set by the OBS have indeed mirrored the organization's commitment to delivering impartial, swift, and cost-free resolutions to banking complaints.

This year's OBS banking awards were bifurcated into two main categories: big banks and smaller banks. ABSA, FNB, and Standard Bank competed in the former, with FNB being awarded the top honors. Investec claimed the first place among smaller banks, standing out against nominees like Postbank and Access Bank.

Beyond institutional recognitions, the OBS awards extended to individual bank staff members who demonstrated consistently excellent service. This year, the accolades were presented to Karen Jonker from ABSA Bank and Elias Mier from Postbank, highlighting their personal contributions to exceptional customer service.

In addition, the OBS awards ceremony took the opportunity to acknowledge the internal staff that embody the organization's values. This unique recognition was awarded to an OBS employee selected by their colleagues for going above and beyond their normal duties. Palesa Zwane was named the outstanding OBS staff member for 2023.

FNB’s prominence in the 2023 awards showcases the bank’s unyielding commitment to customer satisfaction and effective complaint management. This victory takes on an added significance as it heralds the closure of a significant chapter in South African banking history, with the OBS changing its operational structure and merging with other similar entities to create a new, integrated one-size-fits-all financial ombud scheme in 2024.

As the sector looks forward to the introduction of the collective ombud, customers can take comfort in the fact that this awards ceremony has firmly established a standard of excellence. The hope is that with the amalgamation of these entities, the financial services industry will see an enhanced and seamless approach to dispute resolution, benefiting consumers across the board.

With the OBS's legacy in rewarding customer service excellence coming to an end, this year's ceremony will be remembered as the last of its perennial practice, but it leaves behind an enduring legacy that can hopefully be emulated by the forthcoming ombud system.

The OBS and the banks it works with are resolute in their mission to ensure that even as the system evolves, the dedication to customer service and rapid complaint handling that has been a hallmark of the OBS will remain a cornerstone of the new ombud's operations.