Answer:
This depends on the bank. Collection by any means is right, while ignoring the complaints is just wrong. It could be an Excel form or it could be a database. A pen and paper log could work but the more automation you have the more you can get out of the data. Using codes for various products and branches and departments helps streamline data entry and analysis. This is the type of information management needs to address issues.
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Learn more about Andy Zavoina’s Understanding UDAAP/UDAP and Complaints webinar.