Respond says that Momenta, a leading provider of consultancy and outsourcing services to the financial services industry, has invested in its complaint and feedback management software to automate the complaints management process for its outsourced clients. The deal also marks the beginning of a strategic business partnership between Respond and Momenta designed to strengthen future business development opportunities.
Momenta provides the financial services industry with a full range of in-house and outsourced strategic services designed to help businesses capitalise on market opportunities while ensuring their operations and products are compliantly structured. The business today focuses on Regulatory Advice, Training & Development, Operational Consulting, Compliance & Training Outsourcing, Complaint Handling, Past Business Review and New Business Checking. The Respond software will be used to manage the complaint process and within business review operations.
Respond is recognised as the market-leading provider of enterprise complaints management, feedback handling and customer service software to the financial services sector. The company counts 75 percent of the top retail banks, 60 percent of the top life and pension companies and over 50 percent of the top general insurers among its customers.
“We evaluated various technology options but investing in Respond, which is designed for the purpose of managing complaints, was clearly the best choice,” says Momenta’s client engagements director, Steve Johnson. “It offers a flexible solution that can be easily configured for each particular client application and its reporting and MI capabilities are second to none. There is a lot of synergy between the two companies. Momenta provides corrective services, on an in-house or outsourced basis, which are designed to help businesses ensure they are handling complaints in accordance with the regulations. Respond offers the best complaints management software and is very well known in the industry. Working together makes a lot of sense: expert advisory services teamed with the market leading compliant platform. We have already referred Respond into several of our clients.”
“Momenta combines unrivalled industry know-how with a thorough understanding of regulatory compliance to turn strategic objectives into tangible outcomes,” says Respond CEO James Heavey. “Respond has a wealth of experience in helping financial services companies deal with complaints, feedback management and the business issues that surround them and our software is specifically designed to automate, manage and add value to this process. We fully understand the problems and the issues around handling service demand spikes, a particular concern among outsourcing companies in the finance sector. This partnership is designed to strengthen both companies’ offerings within the financial services market and enable more companies to take advantage of Respond’s expertise in managing complaints to deliver cost reductions and process improvements.”