How Not To Manage Merger Chaos

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Big Bank acquired our Small Bank mid-month (real names removed to protect the guilty). On Monday morning, M -Day, we as customers had no access to either our business or personal accounts. That “no access” lasted for more than two weeks.

––Answer 3 from Support Desk at Big Bank: “Yes, they’ll transfer.”

This final, correct answer came on Day 14 of the merger. Other questions—same conflicting responses and run-arounds. On Days 1, 2, 3, many customers could not even access their accounts. Either their former credentials didn’t work, the Big Bank’s “secure browser” didn’t work, or their downloaded “tokens” didn’t work.

With these sad stories from the agents, consider the impression on customers about what’s happening behind the scenes. And that leads me to the next failure…Promised call-backs from supervisors and managers did not materialize. I and another customer continued to compare notes about the problems, the delays, and the non-existent call-backs from managers.Blaming and Passing the Buck to Suppliers

When I heard that ad the first time, I almost doubled over laughing. But the laughter quickly faded into a whimper of anguish and a throbbing headache.Train your teams in all locations to handle routine procedures and to respond to common questions. Then provide clear written resources accessible by all employees for ongoing reference.the merger happens. Customers do not make good guinea pigs.

 

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