Deutsche Bank IT project with problems: customer complaints about Postbank and DSL at a record high

Deutsche Bank IT project with problems: customer complaints about Postbank and DSL at a record high

Deutsche Bank has started a project to standardize its IT, but is encountering major problems. Customers of the Postbank and DSL subsidiaries have increasingly submitted complaints about difficulties using the services. Since the beginning of the year, the consumer advice centers have received 1,700 complaints from customers of the two institutes, almost three times as many as in the previous year. Complaints have mounted in recent months, but Deutsche Bank says progress has been made in resolving the problems, particularly related to DSL's seizure protection accounts and home loan payouts. However, such problems are serious for customers and it is doubly fatal if they do not receive quick help. The consumer advice centers demand quick and unbureaucratic compensation from the bank and a written assurance that the damage will be fully compensated. Financial regulator Bafin has appointed a special representative for Deutsche Bank to ensure that the restrictions are resolved quickly. Deutsche Bank CEO Christian Sewing expects normal operations on issues such as seizure protection accounts to resume during October, but will need the fourth quarter to clear any backlogs.

These issues can have a significant impact on the market and consumers. Customer complaints can affect trust in banks and lead to loss of customers. If customers do not receive quick help with problems, they can cancel their accounts and financing and switch to other banks. This may have a negative impact on Deutsche Bank's market share and financial performance.

In addition, such problems can also have regulatory consequences. The appointment of a special representative by Bafin shows that the supervisory authority is taking the situation seriously and wants to ensure that the problems are resolved quickly. If Deutsche Bank does not adequately address the issues and provide compensation quickly enough, this could result in penalties and further regulatory restrictions.

It is important that Deutsche Bank improves its IT processes to avoid future problems and regain customer trust. Efficient and reliable IT is crucial to a bank's success as customers today increasingly use digital services. Deutsche Bank should invest in training its staff and ensure it has sufficient resources to ensure customer service and problem resolution.

Source: According to a report from www.fr.de, https://www.fr.de/hessen/complaints-ueber-postbank-problems-halten-an-zr-92595585.html