PSD2 requires 15 days. kazva.bg tracks every one.

European Banking: Dual Supervision and Escalating Complaint Requirements

Since joining the ERM II and the EU Banking Union, financial institutions in EU member states face dual supervisory oversight — national central banks and the ECB/EBA. PSD2 (Directive 2015/2366), transposed into national law across Europe, obliges every payment service provider to respond to complaints within 15 working days. National conciliation commissions handle unresolved cases — the volume of formal complaints reaching these bodies has been growing steadily across the EU, putting pressure on banks to resolve issues proactively.

EBA Guidelines and Why Automation Is Critical

The EBA/ESMA Joint Committee Guidelines (JC 2018 35) require every supervised institution to maintain a dedicated complaints management function that registers, categorizes, and tracks every complaint with timestamps. During audits by national or European supervisors, banks must present evidence of this function's effectiveness — complaint volumes, response times, categories, and corrective actions taken. Manual tracking via spreadsheets no longer meets regulatory expectations.

kazva.bg automates complaint registration and categorization in real time. QR codes at bank counters and self-service zones allow customers to submit feedback on the spot, without going through formal complaint procedures. All data is exported with timestamps — ready for regulatory auditors and internal EBA compliance reporting. FinTech challengers routinely achieve NPS scores of 80-90, compared to 7-30 for traditional banks, making customer experience a competitive differentiator as well as a compliance necessity.