Deutsche Bank IT restructuring: Why customer complaints are increasing. Financial expert analyzed.

Deutsche Bank IT restructuring: Why customer complaints are increasing. Financial expert analyzed.

According to a report by amp2.wiwo.de, Deutsche Bank undertook a major IT restructuring to standardize its subsidiaries' systems. However, this is associated with problems that are not well received by Postbank and DSL customers.

Since the beginning of the year, the consumer advice centers have received 1,700 complaints from customers of the two institutes, which is almost three times as many complaints as in the entire previous year. In the third quarter of the year in particular, more than 1,100 complaints about Postbank and DSL were recorded. These complaints primarily related to blocked accounts, failed rental transfers and delayed follow-up financing, which can have serious consequences for customers. VZBV boss Ramona Pop emphasized that it was “doubly fatal” if customers did not receive quick help with such problems.

Poor accessibility and many service problems led to contradictory statements from customer service employees, which consumers found frustrating. The consumer advice centers called on Deutsche Bank to compensate consumers quickly and unbureaucratically and to guarantee full compensation for damages in writing.

Due to these problems, the financial regulator Bafin has appointed a special representative for Deutsche Bank to ensure that the restrictions are quickly removed. Deutsche Bank boss Christian Sewing expressed the expectation that normal operations would return to seizure protection accounts during October, but the fourth quarter will also be needed to clear all backlogs.

Based on these facts, it is likely that customers' trust in Postbank and DSL is decreasing due to the IT problems. Customer dissatisfaction could lead to an increase in account closures and loss of market share. In addition, the additional efforts to compensate and resolve the issues could also result in significant financial burdens for Deutsche Bank. It is important that the company acts quickly to restore customer trust and avoid negative impacts on the market.