How One Compliance Specialist Handles Complaints For Four Separate Banks (And No, It Isn’t Time-Consuming)

Picture this: a compliance specialist buried under a mountain of emails and complaint forms, desperately trying to track and resolve customer issues. See it in the mirror every day?

If so, you know how difficult it is to track and manage customer complaints. Not to mention time-consuming and downright disheartening (reading complaint after complaint will do that to a person). 

Now picture managing complaints for not one…not two…but four different banks. Using spreadsheets, emails, and comment cards, this would be impossible, right? And if not impossible, then definitely time-consuming and frustrating. 

That’s what Sarah at Awesome Holding Company used to think, too. (For privacy purposes, Sarah is a fake name attached to a fake company. But everything in this article reflects her true experience and comes from a real Kadince customer.)

Sarah works for a holding company that owns four separate chartered banks. She oversees the tracking, management, and reporting of complaints for these four banks. 

Most of the time, this would be an overwhelming position destined for quick turnover. Fortunately for Sarah, she uses Kadince. 

Kadince is a complaint management software designed for financial institutions. Since early 2022, Awesome Holding Company has been using the Kadince Feedback module to track, manage, and resolve customer complaints. 

According to Sarah, “Kadince has saved our institutions so much time. Before Kadince, our complaint process was very hands-on. We had one general ‘contact us’ form. Everything went to the same place, and we sometimes missed complaints. I had to make sure everyone completed their tasks via email, which was hard to track.

“Now we have two Kadince forms (one for complaints and one for compliments) and a more specific ‘contact us’ form that still goes to our contact center. Kadince tracks everything for me and makes following up a breeze. The biggest success we’ve had since using Kadince is being able to document complaints that we missed before. What took weeks now only takes a few days.”

So how exactly does Sarah do it? Even with software, managing complaints for four separate financial institutions can’t be that easy, right?

Actually, Sarah has a workflow set up in Kadince that automates a lot of the work. Instead of complaints going to a group of people who wonder who’s going to respond, all complaints and compliments for these four chartered banks first go through Sarah. “We don’t want other charters to see the complaints for one of our banks,” Sarah says. “And since we use one Kadince account for all four charters, I have them set up to go through me first.” With the click of a button, Sarah can quickly review the complaint and send it to the appropriate charter.

Now it’s up to management to determine where it goes next. With Kadince, this is easy. They simply select the correct reviewer, and that reviewer receives a task and an email letting them know they need to review a complaint. Follow-up emails are automatically sent if the complaint remains open, so no one ever has to email Bob asking him to hurry up with that complaint. 

When the staff member feels the complaint is resolved, it goes back to Sarah for a last review. She double-checks that the root cause is captured and all the documentation is up-to-date. 

And that’s it! Happy compliance team, happy customer. What could be better than that?

Having a complaint workflow is great and all, but it doesn’t do much good if customers don’t know how to submit complaints in the first place. 

This is where Awesome Holding Company banks really shine. 

All four chartered banks have a client feedback page on their website. And these pages link directly to the bank’s Kadince forms. No middleman. Just a direct link to the Kadince feedback page. 

“A lot of people in this industry like to give feedback,” Sarah says, “but if we don’t collect that feedback and use it to improve our company, then it doesn’t do any good. We wanted to give our customers a direct line to our feedback form. This has allowed us to hear their voice.”

Part of ensuring customers could submit feedback was educating bank employees about the Kadince forms. Sarah and her team did a big push to let employees know that these forms exist and that any feedback they come across should be submitted here. Now that employees know about it, Sarah has seen an uptick in complaints submitted through the proper channels. 

Now that Sarah and her team use Kadince to track and manage complaints, the process is much simpler and less time-consuming. Before, they had to export complaints to an Excel sheet to do any sort of reporting. This was cumbersome, as the sheet always had to be reconfigured to show the data they wanted. With Kadince, Sarah can build reports and share them directly with her team. No spreadsheets getting in the way. 

And when it’s time for a compliance exam, examiners are given direct access to Kadince (although they only see what Sarah wants them to see). All the reports they need are right there and easy to access and export. “Examiners have been pretty impressed with us being so proactive about our complaints and using Kadince,” Sarah says. 

All in all, handling the complaints for four separate banks isn’t nearly as complicated as it sounds. As Sarah says, “Bring it on.”

Want to learn more about how Kadince makes it easy to track and manage your institution’s complaints? Schedule a demo.

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