Negative impact on customers, positive impact on UBS

Credit Suisse is undergoing a significant transformation, with digital platforms like CSX being phased out and replaced by UBS products. This transition presents an opportunity for Credit Suisse customers to explore better offers in the banking industry.

As of this week, Credit Suisse has officially been removed from the commercial register in the canton of Zurich, marking the end of its existence in Switzerland. The legal merger of Swiss companies between 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, with the integration process gradually impacting their everyday banking operations. While CS branches and services are still operational for now, the transition to UBS 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. The transition 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. As UBS focuses on streamlining operations and consolidating its customer base, the transition is essential to align with the bank’s objectives.

While the integration may pose some challenges for former CS customers, it also presents an opportunity for them to reassess their banking needs and explore alternative providers in the competitive Swiss banking landscape. As UBS seeks to optimize its operations and cater to profitable customers, former CS clients are encouraged to renegotiate their relationship with the bank and find the best fit for their financial needs.