Prodigy Finance Limited

Complaints Handling Policy

  1. Introduction

    Prodigy Finance is authorised and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. We are required to have clear and effective procedures in place so we can handle all complaints promptly and reasonably. All of our clients (borrowers and investors) are important to us, and we believe you have the right to fair, swift and courteous service at all times. We always try to get this right but understand that sometimes things go wrong. This document sets out our complaints handling procedures so you know what to expect from us in the unlikely event that you are unhappy with the service you receive and wish to make a complaint.

  2. What is Prodigy Finance’s definition of a complaint?

    We’re an FCA regulated company, which means that our complaints procedure is in line with their regulations.

    According to the FCA Handbook, a complaint is any expression of dissatisfaction, whether oral or written, and whether justified or not, from or on behalf of an eligible complainant about our provision of, or failure to provide, a financial services activity. A complaint must involve an allegation that the complainant has suffered, or may suffer, financial loss, material inconvenience or material distress.

  3. Does this policy apply to me?

    For this policy to apply to you, you’ll need to be classified as one of our retail clients and be an eligible complainant. An eligible complainant is either:

    • a private individual;
    • a business with a group annual turnover of less than £1 million;
    • a charity with an annual income of less than £1 million;
    • a trustee of a trust which has a net asset value of less than £1 million at the time of your complaint.

    If none of the above categories describe you, we can’t classify you as an eligible complainant. This means you will not be able to refer your complaint to the Financial Ombudsman Service (“FOS”) if you are unsatisfied with our complaints handling procedure.

    Regardless of whether you fall into any of the categories above, please remember that we take all complaints seriously and will always apply the complaints handling procedure.

  4. How can I make a complaint?

    You can make a complaint by any reasonable means, for example, by letter, fax, email, telephone, or in person. You can email your complaint to us at complaints@prodigyfinance.com. If you’d prefer to submit your complaint by phone, please call +44 (0) 20 7193 2832.

  5. What happens once you have received my complaint?

    We will acknowledge your complaint in writing within five days of receiving it. In this acknowledgement, we will include a copy of this policy and provide the name and title of the person that is handling your complaint. This person will have the authority to investigate and settle your complaint.

  6. How will my complaint be investigated and resolved?

    We will investigate your complaint promptly, and in a fair and consistent manner, determine whether it should be upheld, and, where appropriate, decide on any remedial action and/or redress. We will then write to you with a final response, making sure to clearly outline our conclusions. If we decide that redress is appropriate, we will provide you with fair compensation for any acts or omissions for which we are responsible. If you accept our offer, we will provide the compensation to you promptly.

    We aim to resolve all complaints within five working days, and latest eight weeks.

  7. When will Prodigy Finance get back to me?

    Once we have acknowledged your complaint, we’ll keep you informed of our progress. We will usually send you a written acknowledgement or final response within five working days, and latest eight weeks of us receiving your complaint. Our response to you will:

    • explain why we are not in a position to make a final response to you and when we might be expected to provide one;
    • inform you whether you are now entitled to refer the complaint to the Financial Ombudsman Service (“FOS”);
    • include a copy of the FOS’s standard explanatory leaflet (where applicable).

  8. Financial Ombudsman Service (“FOS”)

    If you are an eligible complainant you may want to get in touch with the FOS if you are not satisfied with the outcome of your complaint. The Ombudsman’s service is provided free of charge but you must do so within six months of the date of this letter. The address is:

    The Financial Ombudsman Service

    Exchange Tower

    London E14 9SR

    Email: complaint.info@financial-ombudsman.org.uk

    Website: http://financial-ombudsman.org.uk/


  9. Closing complaints

    We will consider your complaint as closed in the following circumstances:

    • once we have sent you a final response;
    • where you have told us in writing that you accept an earlier response that we have sent to you;
    • once the FOS informs us in writing that the complaint has been closed (where applicable).

    It’s important to us that all complaints received are handled fairly, consistently and promptly and that we identify and fix any recurring or systemic issues, as well as any specific problems identified by you. We will continue to do all we can to learn from the complaints we receive to improve our level of service to you in the future.

  10. Questions

    We’d be happy to answer any questions you may have about our complaints process. If you’d like to get in touch, please call us on +44 (0) 20 7193 2832.