Introduction of financial mediation as a mechanism of settling financial disputes

Formation of the platform for orderly communication of conflicting parties in the financial field and resolution of disputable situations by means of financial mediation in Ukraine.

Assessing the condition of the Ukrainian financial market as critical, and being aware of an incredible amount of  conflicts in the financial sector among financial market players, including consumers of financial services and institutions  providing such services, the necessity of the platform, which would be able to help to resolve such  conflicts without filing a case to court, and  settle disputes to the mutual benefit of the parties  became urgent.

The idea of creating such platform emerged from the awareness that there is no single approach to all and every situation.

There are people, who, because of whatever reasons, occurred in tough life circumstances and just overestimated own possibilities. Such people shall count on assistance as they are ready and willing to assume certain financial obligations, but need additional time to fulfill them or professional advice on how to continue cooperation with the financial institution to their mutual benefit without losing reputation.

Time has proven that financial institutions are also not guaranteed from failure and often need help and assistance. It is much better to find a mutually beneficial solution and continue cooperation with the customer than losing him/her.

Conflicts blindfold. The conflicting parties often forget the benefits of cooperation as effective cooperation gives benefits to both parties. Ukraine and Ukrainians are worth to have the best world practices of overcoming crises and    conflict resolution, especially in the financial sector.