Bafin: Deutsche Bank must pay a million-euro fine after IT problems at Postbank
The bank is said to have processed complaints too slowly after integrating Postbank. Meanwhile, the IT problems have been resolved. But the Bafin imposes a fine.
The Deutsche Bank has been fined €8 million by the German financial regulator Bafin for failing to properly integrate Postbank's systems. The bank was found to have inadequate organisational arrangements to handle a surge in customer complaints during the migration of Postbank customers to a shared IT platform in 2023. The fine includes €5.5 million for slow complaint processing and €2.5 million for delayed execution of securities transfer orders.
The Deutsche Bank has accepted the Bafin decision, stating that it has since rectified the issues and improved its processes.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
