The forced migration of retail customers from Citi Handlowy to VeloBank has turned into a public relations crisis. Technical failures on the first day, followed by weeks of glitches with card histories, payments, and access to investment products, have angered many clients. While some are already leaving, analysts warn that the reputational damage could be far more lasting.
The takeover of Citi Handlowy’s retail operations by VeloBank was one of the largest and most complex migration processes on the Polish market. From the very first day after the transfer, the system collapsed. Many clients could not log into internet banking or the mobile app, verification failed for some, and reaching the hotline was nearly impossible.
Problems did not disappear after the initial outage was fixed. In the following days, customers reported missing credit card history, incorrectly booked deposits, broken services like Google Pay, wrongly charged fees, and difficulties accessing statements and certain investment products.
Lost trust and angry customers
The group of customers dissatisfied with the forced transfer to VeloBank may be quite large, and some have already decided to leave or are considering it. Complaints and declarations of parting ways with VeloBank have increasingly appeared on social media. – Such customer reactions mean a risk of losing trust in VeloBank and a possible outflow of clients – wrote „Rzeczpospolita”.
The bank took over Citi’s retail business precisely to increase scale, strengthen the affluent and private banking segment, and acquire high-value customers. Losing them now would undermine the entire strategy.
Strategic losses beyond numbers
For VeloBank, the problem is not only financial but also reputational. The bank is now seen as unreliable by many former Citi clients who were used to high service standards. Restoring confidence will require much more proactive measures, including transparent communication and swift resolution of lingering issues.
Analysts point out that in the banking sector, trust is the most valuable asset. Once damaged, it takes years to rebuild. VeloBank’s ability to retain the acquired client base will be a test of its operational competence and customer relationship management.
Źródło: wnp.pl, Fot. Shutterstock
