Our Chief Client Officer (CCO) is responsible for handling all serious complaints. He also provides the bank with impartial advice on how best to develop and optimize our products and processes, ensuring that the client’s interests come first here, too. He has no responsibility for financial returns.
The ability to handle formal complaints professionally and transparently is an extremely important factor influencing client satisfaction. We aim to anticipate and avoid potential complaints before they arise.
Our central PCC complaint management team in Germany reports directly to the CCO. In keeping with our internal processes, complaints made in our branches are dealt with locally, which allows us to respond more quickly and helps to improve cooperation between staff. A client information sheet is available for download from our website, offering a clear description of how we handle complaints.
We have also established a separate process for hardship cases, e.g. where clients get into financial difficulty for reasons beyond their control. We were able to resolve three such cases during 2016.
In addition, our CCO personally contacts clients who contact us with serious complaints. This direct dialog helps us to better understand the reasons for complaints and provides insight into how we are perceived by our clients. Our complaint management activities are focused primarily on consulting services and new investment products.
We acknowledge receipt of each complaint immediately, stating the estimated processing time. If we are unable to process a complaint within the stated time, the client will be notified accordingly.
Where we have been responsible for mistakes, we work to rectify these quickly and without excess bureaucracy, and to settle any justified compensation claims directly. The fiscal year 2016 saw a further drop in the number of complaints received by the PCC division in Germany. As before, these related mainly to the implementation of new regulations and legal provisions affecting such matters as the cancellation of consumer credit. Additionally, media reports dealing with the legal disputes and the announcements of branch closures led to further client complaints, most of which we were able to resolve locally in the relevant branches.
A similar trend was reported by our PCC locations in Italy and Poland, which also saw a reduction in the number of new complaints received in 2016. In Belgium, however, media coverage of Deutsche Bank’s operations and the reorientation of the Group led to a noticeable rise in customer complaints.