Ombudsman wants to publicise firms over complaints

The Financial Services Ombudsman wants to name and shame institutions in order to improve customer service and the handling of complaints.

The FSO's annual report for 2010 shows that more than 7,200 complaints were received last year - consistent with previous years.

The Ombudsman said it is very disappointing that the numbers of complaints over products and services has not fallen.

More than 2,700 complaints - relating to pensions, household insurance, motor insurance and ATMs - were lodged with the Financial Services Ombudsman in 2010.

Up to 25% were upheld with €2.6m in compensation secured for disgruntled customers.

The Ombudsman Bill Prasifka said financial institutions need to resolve disputes at an earlier stage and more actively engage with consumers in an effort to settle complaints before they reach his office.

The Ombudsman said the most effective way to achieve that is by publishing and identifying the complaint history and record of individual institutions.