Bank Loyalty. Any reason not to switch current account from AIB to KBC?

[Lightning]

Ironically, they would be a good fit for KBC, imho.

Yeah, although some prior reports say the cost of integrating the systems makes such a merger / acquisition prohibitive.

 

[jim]

if kbc were to leave ireland what would be the implications for customers??

 

[MrEarl]

Yeah, although some prior reports say the cost of integrating the systems makes such a merger / acquisition prohibitive.

I wonder about some of the figures you hear doing the rounds for "integrating" systems and ask myself if sometimes, it might just be easier to transfer all the data on a once off basis onto the better system, then run all accounts from it (obviously, dip testing the data for accuracy, then running both systems for a while etc).

Anyway, sorry we are gone off topic.

if kbc were to leave ireland what would be the implications for customers??

Just the same as when Bank of Scotland / Hallifax left, or Danske Bank. Ultimately, everyone would have to find an alternative bank to facilitate their day to day banking, while the likes of term loans, property loans etc. would just run their natural course (most likely, managed on behalf of KBC by a-n-other, such as Pepper), or perhaps in time, the loans could be sold on to another party, who would then replace KBC as your lender.

The fact that KBC are investing, rolling out new products and opening branches/hubs, with things in Ireland now picking up, I doubt they will leave. If they were going to exit the market, I expect they would have done it well before now.

 

[Lightning]

I wonder about some of the figures you hear doing the rounds for "integrating" systems and ask myself if sometimes, it might just be easier to transfer all the data on a once off basis onto the better system, then run all accounts from it (obviously, dip testing the data for accuracy, then running both systems for a while etc).

The problem is that a 'new system' can rarely can do everything that the old system can, meaning huge IT cost to develop the new system. Also, banks systems are not just one system. They are normally dozens of intra connected systems, especially at a retail level. Not easy to replace or transition without incurring massive costs.

As reported, some of the Irish retail banks looked at acquiring Halifax current accounts, IT costs is one of the reasons that they choose not to.