Banking as a business involves the management of risks. While much has been said about the financial risks, the risks arising out of the large scale implementation of technology is of recent origin, with banks having taken to large scale use of technology for their normal day-to-day business.
In many cases the strong relation of trust developed between the OFSO and the service providers, has facilitated resolution of complaints that fall outside the formal terms of reference of the Ombudsman scheme. Mis-understanding of the role and function of the OFSO and confusion about the procedures to be followed in making complaints were some of the initial challenges faced by the Ombudsman scheme.