Analysis: Postbank plans to cut branches - Deutsche Bank criticized for problems with online banking and IT migration

Analysis: Postbank plans to cut branches - Deutsche Bank criticized for problems with online banking and IT migration

According to a report by www.stuttgarter-nachrichten.de, Deutsche Bank plans to close a significant number of branches after taking over Postbank. This has met with criticism from consumer advocates, as there are already significant problems with online banking.

The planned closure of up to 250 of the current 550 Postbank branches over the next two years poses major challenges, especially given the ongoing problems with online banking. The transfer of data from twelve million Postbank customers to Deutsche Bank's IT systems led to access problems and made customer service more difficult.

The Federal Association of Consumer Organizations has recorded around 1,700 complaints from Postbank and DSL Bank customers since the beginning of the year, almost three times as many as in the entire previous year. There were over 1,100 complaints in the third quarter alone. These issues could lead to a loss of customer trust and ultimately a decline in customer satisfaction and loyalty.

The closure of branches and the inadequacies in online banking could further weaken Postbank's market position and allow other competitors to gain market share. In addition, consumers could consider switching banks, which would lead to a potential loss of customers for Postbank.

It remains to be seen how Deutsche Bank will resolve the problems at Postbank and address customer concerns in order to restore customer trust and satisfaction. The German banking landscape could have a significant impact on consumers and competition as a result of these changes.