Santander Bank Poland successfully completes review of Responsible Selling Commitment
Santander Bank Polska, a leading financial institution in Poland, has taken a significant step towards enhancing ethical standards in customer service by becoming a signatory of the Declaration of Responsible Selling. This initiative, spearheaded by financial institutions and hosted by the Consumer Federation, aims to raise and disseminate ethical standards, educate businesses and consumers, and increase trust in the financial industry.
The Declaration of Responsible Selling encourages signatories to take specific actions for the benefit of customers. Santander Bank Polska, in its commitment, has pledged to sell products at fair prices, tailored to the needs and capabilities of consumers, considering their safety. The bank will also promote products in a transparent and fair manner, treating all consumers with respect and ensuring the highest quality of service.
In a recent audit conducted by KPMG from April to May 2022, Santander Bank Polska's internal regulations were found to be transparent and customer-friendly. The audit concluded that the bank behaves ethically towards its customers and has standards in place to look after their welfare.
The Declaration of Responsible Selling recognizes institutions that not only align their procedures with the requirements of the law, but go the extra mile for the benefit of the customer. All signatories of the Declaration are required to pass an audit of compliance with the declaration every two years.
Santander Bank Polska has also committed to offering products that are clear, understandable, and simple. The bank will educate consumers and other market participants, and establish a simple, efficient, and effective complaints process. Furthermore, the bank will listen to and take into account the voice of consumers when taking action.
While the specific actions Santander Bank Polska is committed to under this declaration are not yet publicly detailed, general knowledge about such declarations suggests that they often include ensuring transparency and clarity in product information, avoiding aggressive or misleading sales tactics, prioritizing customer needs and suitability in product offerings, providing adequate training to staff to uphold ethical sales standards, and monitoring and reviewing sales practices to prevent customer detriment.
For precise details on Santander Bank Polska’s commitments as a signatory of the Declaration of Responsible Selling, it is recommended to consult official Santander Polska communications or their sustainability and corporate responsibility reports directly. This move by Santander Bank Polska underscores its commitment to ethical customer service and contributes to a more trustworthy financial industry in Poland.
Santander Bank Polska's participation in the Declaration of Responsible Selling signals its dedication to improving ethical business practices in the banking-and-insurance industry, specifically in terms of customer service within the finance sector. In alignment with the declaration, the bank has pledged to adopt fair pricing for products, prioritize customer needs, and maintain transparent and honest communication in promoting its offerings. The declaration's requirements also include the bank's commitment to offering understandable products, educating consumers, and establishing an efficient complaints process.
