Financial Consumer Protection Assistance Mechanism (FCPAM)

The Financial Consumer Protection Assistance Mechanism (FCPAM), established by the Customer Experience Management Office (CXMO), ensures that all client feedback—complaints, inquiries, requests, recommendations, and commendations—is managed in accordance with the Bank’s consumer protection policies.

Customer Assistance Officers (CAOs) receive regular training to effectively address concerns and maintain compliance with the Consumer Protection Program. These efforts are reinforced by continuous education campaigns to promote awareness. Since 2023, CXMO has conducted training sessions and alignment meetings with CAOs across various business areas.

CXMO comprises two units: Customer Care and Customer Engagement, which work together to safeguard customer interests and address financial needs. Supporting policies, such as the BanKo Financial Consumer Protection Program and Complaints Management and Reporting, equip personnel to handle feedback properly.

To enhance responsiveness and comply with BSP requirements, BanKo outsourced the services of BPI Contact Center in August 2023. The collaboration enables efficient handling of inquiries through multiple channels—phone, email, website, and social media—for both BanKo and non-BanKo clients. CXMO oversees all concerns, ensuring proper documentation, escalation, and resolution within prescribed turnaround times.

Clients can submit feedback through various touchpoints, including the Contact Center, Customer Care, branches, email, and social media. Employees adhere to the Employee Code of Business Conduct and Ethics, which incorporates consumer protection guidelines and specifies turnaround times for complaint resolution.

Throughout 2024, BanKo maintained a vigilant approach to addressing feedback and concerns, consistently achieving low complaint-to-concern and complaint-to-transaction ratios. By year-end, all reported complaints were resolved, reflecting our commitment to swift and satisfactory resolutions. There were no confirmed incidents of non-compliance, underscoring adherence to regulatory standards and dedication to service excellence. We also uphold regular complaint reporting to BanKo Management, ensuring transparency and accountability.

Since the framework’s establishment in 2017, BanKo has consistently maintained full compliance with product and service regulations, reinforcing trust and confidence in its brand and its commitment to customer satisfaction.