University of Sannio
Catholic University of the Sacred Heart of Milan
October 10, 2014
Proceedings of the 14th Toulon-Verona Conference “Organizational. Excellence in Services”, Alicante, Spain, 1-3 september 2011
Alternative dispute resolution techniques (ADR), including arbitration, have served as an essential release valve for the country’s overburdened civil justice system.
The European Union has given momentum to ADR in disputes involving the banking and financial sector. In Italy, the Arbitro Bancario e Finanziario has recently been established to settle disputes between intermediaries and their customers. It has provided a cheaper, faster, more effective forum for a variety of disputes.
The paper begins with an outline of the goals of this alternative dispute resolution techniques that improving consumer access to remedies, thereby increasing consumer satisfaction and confidence in engaging in transactions in the financial market.
In our empirical analysis we will refer to the statistics on Italian bank dispute in retail bank service, publicity available at Bank of Italy website in order to evaluate how the banks fail to deliver minimum standards of service and product quality and to assess the influence of reputational risk on banks’ behaviour.