The Financial Ombudsman Service (FOS) has published an action plan to improve the service delivered to customers.

It has been published in response to an independent Periodic Review commissioned by FOS’s board.

That review has also been published today (2 December) and both documents aim to boost the performance of the Ombudsman.

The action plan sets out how FOS will deliver for all our customers and provide financial dispute resolution more quickly.

The action plan focuses on five key themes:

• A new operating model to meet a changing environment, making it more effective and efficient to resolve cases more quickly.
• Enhancing technology and digital capabilities, to drive productivity and to make it easier and more efficient for customers to choose how they interact with the Financial Ombudsman Service.
• Boosting engagement with our stakeholders and taking a robust and proactive approach to prevent complaints and unfairness arising to ensure that we solve problems together efficiently.
• Developing the current strategy to further enhance the Financial Ombudsman Service, using insights from timely case handling to prevent further harm to consumers.
• Exploring revisions to our funding model to ensure a sustainable future.

FOS chairman and Baroness Zahida Manzoor said: “The board commissioned this independent review to get an impartial perspective on current and future challenges. With a continuing commitment to impartiality and fairness as our foundation principles, we are now entering a new phase for our organisation.

“As we move forward, we value our strong working relationships with the Financial Conduct Authority, the wider regulatory family and look forward in partnership to preventing and addressing detriment to our customers. This action plan will help the FOS to play its part.”

FOS interim chief executive and chief ombudsman Nausicaa Delfas added: “The FOS is at a pivotal point. The action plan is our commitment to continue to make the changes we need to resolve customer complaints more quickly.