The Financial Ombudsman Service (FOS) says its new “fast, efficient and fair” dispute resolution process is working well.

It was introduced on July 1, and “we are already seeing the benefits of more active engagement with applicants and financial services providers much earlier”.

The system includes fast-tracking of decisions on simple and low-value disputes, and a registration and referral process that gives companies a final chance to resolve disputes with customers before intervention.

FOS says conciliation and early resolution remain priorities of the new system.

“Unless there is a genuine reason not to, our default position is now to encourage conciliation, and we have increased our capacity to support this,” FOS says in a member update.

FOS has uploaded a member webinar on the new dispute resolution process, including a question-and-answer session with EGM Assessment and Resolution Michael Ridgway.

Read the transcript here.

FOS has also announced a new online case management service for members will go live on the secure services member web portal next month. It will make relevant documents and correspondence available to financial services providers.

A user guide and video will be released in advance.