Singapore’s financial regulator has asked financial institutions to review how they handle customer complaints after inspections found that some firms dealt with individual disputes without adequately examining the underlying weaknesses.
The Monetary Authority of Singapore published its findings on October 20, drawing on thematic inspections of selected banks and life insurers during 2025 and 2026. It found basic arrangements in place, but differing levels of maturity.
The paper calls for boards and senior managers to look beyond case volumes and procedural compliance. Complaint patterns, root causes and outcomes for affected customer groups should inform decisions about products, services and controls.
It also stresses impartial handling: staff implicated in a complaint should not determine its outcome. Complaints resolved quickly should still enter the record, rather than disappearing from the information used to detect recurring problems.
MAS expects institutions to assess the practices proportionately to their businesses. The paper announces supervisory expectations and follow-up, not a new statutory offence or penalties against named firms.
