Credit Suisse, which has been undergoing a significant transformation, is now officially removed from the commercial register in the canton of Zurich. This marks the end of its existence in Switzerland as a legal merger between Swiss companies UBS and CS has been completed sooner than expected, with UBS taking the lead in dictating the terms of the transition.
Former CS customers are now officially UBS clients, and their everyday banking operations are gradually being impacted by this transition. While CS branches and services are still operational for now, the integration process is imminent, with most customers expected to be migrated over the next year. The CSX banking app will be discontinued by the end of 2025.
Under the UBS umbrella, CS customers will have access only to UBS products and services, with offerings like the CSX app being replaced by UBS’s Key4 platform. This signifies a clear shift towards UBS’s offerings and strategy, leaving behind the legacy of Credit Suisse.
For former CSX users, adapting to Key4 may require some adjustments as it offers a more basic e-banking experience compared to the innovative CSX app. However, this presents an opportunity for them to reassess their banking needs and explore alternative providers in the competitive Swiss banking landscape.
As UBS focuses on streamlining operations and consolidating its customer base, this transition is essential to align with its objectives. Former CS clients are encouraged to renegotiate their relationship with the bank and find the best fit for their financial needs.
In conclusion, while this integration may pose some challenges for former CS customers, it also presents an opportunity for them to explore better offers in the banking industry. With many competitors vying for market share in Switzerland’s competitive banking landscape, former CS clients can take advantage of this change to make informed decisions about their financial future.
