Financial complaints rise by 6.3%

Latest data from the Financial Conduct Authority (FCA) has shown a 6.3% rise in complaints. Financial services firms reported 1.85 million complaints between January and June 2026.

54.8%  of complaints were upheld and £240 million was paid out in redress, Current accounts remained the most complained-about product.

Commenting on the data, James Towner, Chief Growth Officer, ArvatoConnect said “The 6.3% rise in complaints reported by the FCA today should come as no surprise to anyone in financial services. In fact, many firms may be surprised the figure isn’t higher, given the pressures they’re experiencing on the frontline every day. Generative AI is putting the power firmly in consumers’ hands, and many businesses simply aren’t ready for what comes next.

“The barriers to complaining are disappearing, but the systems businesses use to resolve these haven’t necessarily kept pace. Firms should be bracing themselves not just for more complaints, but also more complex ones.”