Complaints Data Summary

Firm Name: FirstRand Bank Limited

Group: FirstRand Group

Other firms included in this report: None

Period covered in this report: 1st January 2017 to 30th June 2017

Brands/trading names covered:                      MotoNovo Finance

Product
Category
Provision
(at reporting period
end date)*
Intermediation
(within the reporting
period)*
Number of
complaints
opened
Number of
complaints
closed
Complaints
closed
within
8 weeks (%)
Closed
complaints
upheld
by firm (%)
Percentage
Upheld
Main cause
of complaints
opened
Banking N/A N/A N/A N/A N/A N/A N/A N/A
Home finance N/A N/A N/A N/A N/A N/A N/A N/A
General Insurance
and pure protection
4.13 per 1,000
policies
in force
N/A 904 898 88% 12% 0% Unsuitable
Advice
Decumulation,life
and pensions
N/A N/A N/A N/A N/A N/A N/A N/A
Investments N/A N/A N/A N/A N/A N/A N/A N/A
Credit-related 6.34 per
1,000 loans
N.A  2,812 2,832  /////// /////// 45% Other

 

To help you put the figures into context:

MotoNovo Finance manages over 440,000 existing Hire Purchase Agreements in relation to motor vehicles arranged through a large network of motor dealers and also advises on and arranges non-investment insurance products for our customers.

We put figures into context by using the "per 1,000" metrics so that comparisons can be made between firms of different sizes.

* The "Provision" metric is used when a firm is the product provider, using the total volume of accounts held as at the end of the reporting period.

** The "Intermediation" metric is used when a firm is responsible for selling the product.  MotoNovo Finance is responsible for selling the insurance products, and have used the provision volume metric to provide a meaningful context.

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