Postbank problems: 1,700 complaints after IT migration - financial regulator reacts Postbank is struggling with massive complaints after the IT migration, which led to a public reprimand from the financial regulator at the beginning of September.

Postbank problems: 1,700 complaints after IT migration - financial regulator reacts Postbank is struggling with massive complaints after the IT migration, which led to a public reprimand from the financial regulator at the beginning of September.

According to a report by amp2.handelsblatt.com, German consumer advice centers have counted 1,700 complaints from Postbank customers who are struggling with problems related to IT migration. The disruptions affect a total of 19 million customer contracts and have led to a backlog of customer inquiries. The bank, which has understaffed and poorly trained staff, has committed to resolving the worst problems by the end of October, particularly around repossessions and mortgage lending. Deutsche Bank, Postbank's parent company, has implemented extensive measures to improve the situation. Consumer advocates are demanding that affected customers be compensated quickly and unbureaucratically.

The massive problems resulting from Postbank's IT migration to Deutsche Bank's systems may have a significant impact on the market and consumers. Customers could lose trust in the bank and look for alternative banks. The massive backlog of customer inquiries could also result in the bank's overall customer service being rated lower, which could have a long-term impact on the bank's reputation and bottom line. If Deutsche Bank is unable to resolve the worst problems by the end of October, this could result in a significant loss of confidence and financial losses for the company.

Source: According to a report by amp2.handelsblatt.com