CX takes a backseat during mergers and acquisitions. Customers notice.

Bank mergers and acquisitions are on the rise, but they often lead to a measurable drop in customer experience (CX). For retailers and operators, this means the financing programs you rely on could face turbulence if your lending partner is bought or merged. Research shows that during these transitions, banks focus heavily on internal systems and back-office integration. They often forget about the end-user. This results in longer wait times, glitchy application interfaces, and poor communication for both the merchant and the consumer. If your financing provider is undergoing a merger, be prepared for potential disruptions in service quality. Customers don't care about the complexity of a backend migration; they just want their credit application to work instantly at the point of sale. When a lender’s focus shifts inward, the merchant often bears the brunt of customer frustration. You should proactively communicate with your account managers during these times to ensure your store's performance isn't sidelined by their corporate restructuring. It is also a wise time to evaluate secondary lending options to ensure you have a backup if the primary provider’s service levels tank.

Source: Banking Dive

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