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Managing Social Media Engagement Internal Relationship (Financial company)
To adhere to the Financial Conduct Authority (FCA), a finanacial company needs to follow an internal process for complaints. These are known as Notification Types they are 24hr and N2 responses.
- 24hr: Resolution at close of play the next business day
- N2: Can’t resolve, further process to follow
Under the FCA guidelines, a financial company has five working days to acknowledge any complaint, then a further eight weeks to find a response. If they are unable to respond, they are required to provide a False Referral Rights document, guiding the person to the Financial Ombudsman. Each legitimate complaint requires the financial company to provide a How to Complain Booklet. The booklet can be made available for downloading.
The internal social media engagement process would follow the following process.