Introduction
1.1 Purpose
This Customer Complaint Standard Operating Procedure (SOP) describes how complaints received by Finyra Solutions are to be handled.
1.2 Scope
The SOP applies to all complaints received regarding products and/or advisory services provided by Finyra Solutions.
1.3 Responsibilities
Receipt of Grievance
All grievances received through various channels are recorded and acknowledged.
Escalation
The Grievance Redressal Officer (GRO) escalates the complaint to the respective internal department to seek resolution.
Investigation
The GRO, with assistance from other departments, performs the necessary investigation regarding the complaint received.
Resolution
The GRO is responsible for providing appropriate resolution based on the severity of the complaint.
Evaluation
The GRO reviews complaints to ensure they are appropriately handled, investigated and followed by corrective measures.
Records
The Grievance Officer is responsible for maintaining a detailed Complaint Register.
Where a complaint requires external intervention, the GRO is responsible for involving the concerned partner institution (Bank/NBFC) on whose behalf Finyra is providing services.
1.4 Customer Handling Channels
Procedure
Complaints may be received from internal or external sources as written feedback, including e-mails, letters or social media messages. Regardless of the means of communication, all complaints will be systematically recorded using the Complaint Register.
Complaints lodged against specific services or products must be reported to the respective Product department to take appropriate corrective measures and avoid future recurrences.
Upon notification of a complaint, the GRO documents the complaint in the Complaint Register using standard parameters.
| Date of Complaint | Customer Name | Description | Product Name | Platform | Status | Resolved By | Resolution Days | Closure Date |
|---|---|---|---|---|---|---|---|---|
| Internal complaint-register record format | ||||||||
If there is insufficient data, additional information from the originating source will be requested by the compliance team.
Grievance Redressal Process
All grievances shall be formally acknowledged within forty-eight (48) hours of receipt.
The Company shall endeavour to resolve complaints within a maximum period of thirty (30) days from receipt, in accordance with applicable regulatory requirements.
Where additional time is needed, the customer will be informed of the status and expected timelines.
Upon resolution, the customer shall be duly notified via registered email or other appropriate communication channels.
Right to escalate
If the grievance remains unresolved within the stipulated timeline, or the customer is dissatisfied with the resolution, the customer has the right to escalate the complaint to the appropriate regulatory authority, such as the RBI Ombudsman, as per applicable laws.
Metrics Evaluated by Management
Resolution Time
Average time taken to resolve customer grievances from receipt.
Deviation from Policy
Instances where resolution deviates from standard company policy and the reasons for that deviation.
Customer Service Feedback
Ratings and feedback collected about the grievance-handling experience.
Customer Satisfaction Score
CSAT used to measure overall satisfaction with the resolution provided.
Complaint Trends
Trends in grievance types and frequency used to identify recurring systemic issues and proactively reduce them.
Escalation Matrix
If a concern is not addressed satisfactorily at the initial level, the matter may be escalated according to the severity matrix below.
| Severity | Response Time | TAT | Designated Officer | Contact |
|---|---|---|---|---|
| High | Immediately | 2–3 hours | Grievance Redressal Officer (GRO) |
Finyra Corporate Office, India [email protected] |
| Medium | Within 24 hours | 24 hours | Grievance Redressal Officer (GRO) |
Finyra Corporate Office, India [email protected] |
| Low | Within 2–3 days | 24–48 hours | Grievance Redressal Officer (GRO) |
Finyra Corporate Office, India [email protected] |
We will send our final response or explain why more time is needed to respond, and shall endeavour to do so within the above-mentioned Turn-Around Time (TAT) from the date of receipt of the query or complaint.
Credit Bureau Concerns
Where the concern relates strictly to a Credit Information Report fetched by a bureau, the customer may reach out to TransUnion CIBIL directly through its official contact channel.
Visit TransUnion CIBIL contact & FAQ