受够了的金融科技公司呼吁对摇摇欲坠的金融监察员进行彻底改革

Authors Luke KoskyFintech Policy LeadStartup Coalition Charlie MercerPolicy DirectorStartup Coalition AboutStartup Coalition Startup Coalition, formerly the Coalition for a Digital Economy (Coadec), is an independent advocacygroup that serves as the policy voice for Britain’s technology-led startups and scaleups. Startup Coalitionwas founded in 2010 by Mike Butcher, Editor-at-Large of technology news publisher TechCrunch, andJeff Lynn, Chairman and Co-Founder of online investment platform Seedrs. Startup Coalition worksacross a broad range of policy areas that matter the most to startups and scaleups: Access to Talent,Access to Finance & Regulation. ExecutiveSummary TheFinancial Ombudsman Service(FOS)stands at a crossroads.What should be a pillar ofconsistency, certainty and robust consumer protection in the UK's financial services sector has become asource of frustration, hindering innovation and letting consumers down. Unless urgent action is taken,both consumers and businesses will continue to bear the mounting costs of a dysfunctional system setup to fail. Refereeing disputes in a constantly changing sector with high stakes is a formidable challenge, butevidence from the sector suggests that today its processes are not fit for purpose, particularly when theUK is chasing sustainable economic growth. Ensuring that consumers are protected while ensuringinnovation can thrive is the core challenge, but today both consumers and businesses are fed up withcomplaining about the FOS. Over the past two decades of outcomes-based regulation, the FOS hasgradually expanded beyond its role into a de facto regulator, effectively creating new industry standardsthrough its decisions. Recent changes to the Consumer Duty and case studies from the sector prove thatsomething isn’t working. These issues create a cascading effect of negative outcomes across the financial ecosystem. Forconsumers,prolonged waiting periods cause financial and emotional stress,while inconsistentjudgmentsundermine faith in the system's fairness.Businesses face unpredictable decisions anddisproportionate case fees that lead to overly cautious behavior, stifling innovation and potentially raisingcosts for all consumers. The broader economy also suffers, as the UK's position as a global financialcenter depends partly on effective regulatory and dispute resolution mechanisms—a reputation that adysfunctional FOS threatens to undermine. This report presents a comprehensive set of reforms designed to transform the FOS into a more efficient,transparent,and effective organisation,grounded in the delicate balance of maximising consumerprotection and economic growth through innovation. Our three steps for change are: 1.Multi-track Case Categorisation:Differentiating between simple and complex cases to enablemore efficient resource allocation and processing in the style of the Australian AFCA, enablingtiered case fees and SLAs.2.Formal Precedent System for Complex Cases:As a consequence of the tiered approach,establish consistent decision-making across similar cases to provide greater predictability for allstakeholdersand formalize coordination to ensure FOS decisions complement rather thancontradict outcomes-based regulation.3.Digital Transformation:Rapidly implementing a customer-facing portal for real-time casetracking, automated updates, and streamlined communication. Implementingthese reforms requires significant effort and investment from all stakeholders in thefinancial ecosystem. However, the cost of inaction is far greater. A reformed FOS would not only betterserve its direct stakeholders but would strengthen trust in the UK's financial system as a whole. The FOS plays a vital role in maintaining trust and fairness in the financial system, and with bold,decisivereform,it can once again fulfill this mission effectively.The time for half-measures haspassed—comprehensivetransformation is now essential to secure the future of fair and effectivefinancial dispute resolution in the UK. Introduction Whatis the FOS? Established in 2000 and granted statutory powers in 2001 under the Financial Services and Markets Act2000, the Financial Ombudsman Services (FOS) serves as an independent arbiter, helping to settledisputes between consumers and UK financial service providers. Its remit extends across a broadspectrumof financial products and services,including banking,insurance,mortgages,pensions,investments, credit cards, loans, and financial advice. The FOS plays a crucial role in maintaining trust and fairness in the financial system. Unlike the courtsystem, which primarily focuses on legal compliance, the FOS operates under the regulatory 'treatingcustomers fairly' principles. This allows the ombudsman to make decisions based not only on the lawandregulatory rules but also on good industry practice and what is fair and reasonable in thecircumstances of each case. This approach theoretically provides a more holistic and consumer-friendlyavenue for