Latest results
Our performance against service standards
Overall, 64 service standards were in place between 1 October 2007 and 31 March 2008. During this time there were no transactions recorded for four of these standards. For the 60 standards where transactions did occur we:
- met 49 (81.7%); and
- did not meet 11 (18.3%).
Of the eleven standards where we did not meet the target, nine have challenging 100% targets. This means that a delay in any single case may result in a missed standard. Against these standards our performance was over 96%.
The graph linked below shows performance against our standards for the last four years. The results in the latest reporting period, 1 October 2007 to 31 March 2008, show a decrease in performance compared to the last period (1 April to 30 September 2007). However, there were no missed standards below 90% of the target for a third consecutive period.
View graph - Recent Performance against Service Standards
In the interests of our stakeholders it is vital that we make the right regulatory decisions and sometimes this will mean that some transactions take longer than our target timescales. Given a choice between meeting a standard and taking more time to make the right decision, we will take more time.
You can find more information on all the results within the Authorisation, Regulatory decisions, Complaints against the FSA, Listing, Notifications and Communications pages.
As a result of reviewing our standards and continuing to listen to your feedback, we are streamlining some of our standards and reporting processes.
For more information on key changes, please see the service standards portfolio page.
Our performance for customer satisfaction
The customer satisfaction research is conducted by independent research companies.
Customer feedback has shown that the quality of our dealings with stakeholders is good, with satisfaction targets being consistently met. Between July and December 2007, all regulatory processes exceeded the customer satisfaction index (CSI) target of 75.
Due to low volumes, the result for the Collective Investment Schemes process cannot be published until further data is gathered to increase the statistical reliability of the findings.
The graph linked below shows the latest results against seven of the eight processes monitored within the regulatory transactions customer satisfaction research.
View graph - Regulatory Transactions - Customer Satisfaction Performance
While the results continue to show all processes meeting the target CSI of 75 for the second time, the average score has fallen slightly to 81.2 compared to the previous period (81.6).
Our top four priorities for improvement are:
- time the whole process takes;
- understanding the importance of resolving the timing of the application;
- ease of finding the correct application form; and
- time it takes to fill in the application form.
You can find more details on the targets, results, and methodology in the customer satisfaction section.
Contact Centre customer satisfaction
The results for the period July to December 2007 are shown below. The Contact Centre is undergoing a period of structural change and, for this reason, we have set a composite CSI target score of 75 until 1 April 2009, when it will be increased to 80.
Consumer Contact Centre
The satisfaction results for the Consumer Contact Centre (CCC) continue to be positive with a composite satisfaction score of 77.6. This is a slight decrease from the record high of 79.8 in the previous survey.
The survey shows the following are key drivers of satisfaction for consumers:
- efficiency in dealing with customers' enquiries;
- providing a full answer/full information;
- helping customers decide what they should do; and
- advising customers where to go for more information or help.
The satisfaction score is highest for telephone enquires at 79.5 (vs e-mail 66.4, letter 53.9). Although satisfaction with e-mail is not as high as telephone, results indicate an improvement compared to the previous period's score of 64.8.
Firm Contact Centre
The overall satisfaction score for the Firm Contact Centre (FCC) is 82.8, which has increased from a score of 81.1 at the last study. This result is consistent with industry best practice.
The survey continues to suggest the key driver of satisfaction was the overall amount of time it took to resolve the query as well as:
- accuracy of advice or information given by FCC staff;
- speed of response to specific questions; and
- consistency of advice or information given by FCC staff.
The composite satisfaction score is highest for telephone enquiries 83.9 (vs e-mail 74.8, letter 68.6). While satisfaction for both telephone and email enquires show an increase when compared to results for the previous period, satisfaction with letter enquiries has gone down significantly (from 75.5 to 68.6). Lower satisfaction is likely to be seen for firms with unresolved enquiries.