The UK Financial Conduct Authority (FCA) has published the complaints data for the period from 1 July to 31 December 2023.
In the second half of 2023, UK financial services firms received 1.87 million complaints, a decrease of 1% from 2023 H1 (1.89m). Since the Payment Protection Insurance (PPI) peak in 2020, complaints have stayed relatively constant between 1.8m and 2m.
The product groups that experienced an increase in their complaint numbers were:
- banking and credit cards – up 3.2% from 847,497 (2023 H1) to 874,568 (2023 H2)
- home finance – up 3.7% from 91,470 (2023 H1) to 94,822 (2023 H2)
- investments – up 3.4% from 59,417 (2023 H1) to 61,446 (2023 H2)
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