The BGH ruling as a game changer

In April 2021, the banking industry was hit completely unexpectedly by the ruling of the Federal Court of Justice (BGH) on changes to Postbank’s general terms and conditions. How can your bank now use the ruling as a game changer?

The BGH has ruled: The principle of “silence is consent” is now a thing of the past! The fiction of consent, i.e. the customer’s silence after being informed about contract or price adjustments in the context of changes to the general terms and conditions of German banks, is illegal. And even retroactively since 2018! As a result, banks are faced with an immense bureaucratic burden, as contract adjustments made in the last three years have to be individually reviewed and provided with new, explicit consent from the customer or, in the worst case, reversed.

Great opportunity for active customer interaction

With the BGH ruling, many banks are missing a great opportunity – to use the forced communication associated with the ruling to their advantage. So how can you take advantage of this opportunity and make a virtue out of the current emergency?

You can do this by optimizing customer communication now in order to stabilize and strengthen the sometimes irritated customer relationship. Instead of suspending account fees out of uncertainty, blocking current accounts or reactively waiting for customer complaints, it is worthwhile for you as a bank to take a strategic approach now.

Differentiation from the competition through value-added services

The aim is to demonstrate to your customers why they are in good hands with your bank – the perceived price-performance ratio counts!

This is where our value-added services and Beyond Banking Services come into play, because they help you to differentiate yourself from the competition at the service level. Use the current occasion to your advantage and to sustainably emotionalize your customer relationship!

Our Consent Strategy offers you a professional approach to dealing with the BGH ruling and the resulting consequences for your bank. Find out more in the blog post “The Consent Strategy: Mehrwerk’s lifebuoy in response to the BGH ruling”.