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Financial expert criticizes Postbank: branch reductions despite online banking problems
According to a report from www.schwaebische.de, the head of the Federal Association of Consumer Organizations, Ramona Pop, sharply criticized the planned large-scale branch reductions at Postbank. In view of massive problems with online banking in recent months, it is a “blanket mockery” for customers that Postbank wants to close almost half of its branches, said Pop. According to announcements by private customer boss Claudio de Sanctis, Deutsche Bank, Postbank's parent company, plans to close up to 250 of the current 550 Postbank branches in the next two years. The decision comes after significant problems with the IT migration to Deutsche Bank, in which data from twelve...
Financial expert criticizes Postbank: branch reductions despite online banking problems
According to a report by www.schwaebische.de, the head of the Federal Association of Consumer Advice Centers, Ramona Pop, sharply criticized the planned large-scale branch reductions at Postbank. In view of massive problems with online banking in recent months, it is a “blanket mockery” for customers that Postbank wants to close almost half of its branches, said Pop.
According to announcements by private customer boss Claudio de Sanctis, Deutsche Bank, Postbank's parent company, plans to close up to 250 of the current 550 Postbank branches in the next two years. The decision comes after significant problems with the IT migration to Deutsche Bank, during which data from twelve million Postbank customers were switched to Deutsche Bank's IT system. This resulted in difficulty accessing accounts and hard-to-reach customer service. Consumer advocates have 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.
As an expert in the financial industry, it is obvious that Postbank's planned branch closures will have a significant impact on the market and consumers. The trend towards online banking will continue to grow as the physical presence of bank branches is reduced. This could disadvantage older or less tech-savvy customers who still value personal advice in a branch. In addition, the focus on online services could lead to an increase in IT problems that affect customer trust and satisfaction. Deutsche Bank must ensure that Postbank's problems are resolved quickly and that injured customers are adequately compensated in order to maintain trust in the brand.
Overall, the planned branch closure at Postbank will not only affect the bank itself, but also the entire financial market. How Deutsche Bank deals with the technical and service challenges will be crucial to maintaining customer trust.
Read the source article at www.schwaebische.de