Swiss SMEs Struggle With IT Glitches After UBS-Credit Suisse Merger
Nearly three years after UBS rescued Credit Suisse in a historic emergency takeover, compact and medium-sized enterprises (SMEs) across Switzerland are still grappling with persistent technical disruptions, payment delays, and a fractured customer-service experience. The integration, billed as one of the most complex in global banking history, has left many business owners spending weekends and late nights trying to execute routine transactions, according to recent reports and first-hand accounts.
Marie Petit, the owner of a Romandie-based manufacturing firm, told Swiss public broadcaster RTS that the migration from Credit Suisse to UBS had turned into a “total nightmare.” “I can’t process a large portion of my company’s payments,” she said. “We’re putting in weekends, evenings—everything we can—and I never planned to spend half-days or full days just trying to get a few payments through.” Her experience is far from unique; online forums are filled with similar complaints from former Credit Suisse clients now under the UBS umbrella, with users reporting weeks-long response times and systems that “simply don’t work.”
UBS completed the final phase of the client migration on March 18, 2026, transferring approximately 1.2 million customer relationships worldwide onto its own infrastructure. The bank noted that daily payment volumes had surged by nearly 25 % to 3.1 million transactions, a figure it framed as evidence of a successful integration. Yet behind the headline numbers, SMEs say the reality is far messier.
“Remarkably Different” Workflows and a Culture Clash
Several Romandie-based businesses interviewed by RTS described the transition as a collision of two distinct banking cultures. Credit Suisse’s approach, they said, was more flexible and tailored to smaller firms, while UBS’s processes are perceived as rigid and standardized. Most declined to speak on the record, fearing repercussions on their banking relationships.
Emilio Lado, Secretary General of the Swiss Mechanical and Electrical Engineering Industries Association (Swissmem), acknowledged the sensitivity. “You have to understand their reticence,” he told RTS. “These companies work daily with their banks and don’t aim for to jeopardize that partnership. It underscores how critical strong collaboration between banks and industrial firms really is.”
UBS has pushed back against the criticism. In a statement to RTS, the bank said it provides “a complete, personalized, and transparent service for corporate clients in Switzerland across all touchpoints.” The bank similarly highlighted the scale of the integration effort, noting that it had conducted over 80,000 tests and delivered more than 132,000 hours of staff training to prepare for the transition.
Why the Integration Is Taking So Long—and Why It Matters
The UBS-Credit Suisse merger was born out of crisis. In March 2023, Swiss regulators engineered a shotgun wedding between the two systemic banks after a run on Credit Suisse deposits threatened to destabilize the country’s financial system. The deal was structured as an emergency takeover, with UBS acquiring Credit Suisse for CHF 3 billion—a fraction of its pre-crisis market value. The transaction was completed in June 2023, but the full integration of systems, clients, and operations has been a multi-year project.
For SMEs, the stakes are high. Switzerland’s economy is heavily reliant on small and mid-sized firms, which account for over 99 % of all businesses and employ nearly two-thirds of the workforce, according to the State Secretariat for Economic Affairs (SECO). When payment systems fail or customer service lags, the ripple effects can be immediate: delayed supplier payments, missed payroll deadlines, and lost business opportunities.
“For a small business, cash flow is oxygen,” said Sarah Müller, a Zurich-based financial consultant who advises SMEs on banking transitions. “When you can’t execute payments, it’s not just an IT problem—it’s an existential threat. The fact that these issues are persisting nearly a year after the final migration is concerning.”
What Happens Next?
UBS has not publicly disclosed a timeline for resolving the remaining technical issues, but it has acknowledged that some “teething problems” are to be expected in an integration of this scale. The bank has also emphasized that We see prioritizing stability and security over speed, particularly given the high-profile nature of the merger and the regulatory scrutiny it faces.
For SMEs, the path forward is less clear. Many are exploring contingency plans, including opening accounts with alternative banks or diversifying their financial relationships to reduce reliance on a single institution. However, switching banks in Switzerland is a cumbersome process, often requiring months of paperwork and due diligence.
In the meantime, business owners like Marie Petit are left waiting—and hoping—for a resolution. “I just want to run my company,” she said. “I didn’t sign up to be an IT troubleshooter.”
Key Takeaways
- Integration Timeline: UBS completed the final phase of the Credit Suisse client migration on March 18, 2026, transferring 1.2 million customer relationships worldwide.
- Payment Volumes: Daily transactions on UBS’s platform have increased by nearly 25 %, reaching 3.1 million per day.
- SME Impact: Small and medium-sized enterprises report persistent IT glitches, payment delays, and poor customer service, with some spending significant time trying to resolve issues.
- Cultural Differences: Businesses describe a clash between Credit Suisse’s flexible approach and UBS’s more standardized processes.
- Regulatory Context: The merger was an emergency response to the 2023 Credit Suisse crisis, aimed at stabilizing Switzerland’s financial system.
- Economic Importance: SMEs make up over 99 % of Swiss businesses and employ nearly two-thirds of the workforce, making their stability critical to the economy.
FAQ
Why is the UBS-Credit Suisse merger still causing problems for SMEs?
The integration of two large banks with distinct systems, cultures, and client bases is a complex process. While UBS has completed the technical migration of client data, the alignment of workflows, customer service, and IT infrastructure is still ongoing. SMEs, which often rely on tailored banking solutions, are particularly sensitive to disruptions in these areas.
What are the most common issues reported by SMEs?
According to reports and first-hand accounts, the most frequent problems include:
- Inability to execute payments or transfers
- Delayed or missing responses from customer service
- System outages or glitches during routine transactions
- Difficulty accessing account information or statements
How long will these issues persist?
UBS has not provided a specific timeline for resolving the remaining technical and operational challenges. The bank has stated that it is prioritizing stability and security, suggesting that some issues may take additional time to fully address.
What can SMEs do if they are affected?
Businesses experiencing disruptions have a few options:
- Escalate with UBS: Contact the bank’s dedicated support channels for corporate clients. UBS has increased staffing in its customer service and branch networks to handle integration-related inquiries.
- Explore Alternatives: Some SMEs are considering opening accounts with other banks to diversify their financial relationships. However, switching banks in Switzerland can be a lengthy process.
- Seek Advice: Financial consultants or industry associations, such as Swissmem, can provide guidance on navigating the transition and mitigating risks.
Is the Swiss government or regulator involved in resolving these issues?
The Swiss Financial Market Supervisory Authority (FINMA) has been closely monitoring the UBS-Credit Suisse integration since the merger was announced in 2023. While FINMA has not publicly commented on the recent SME disruptions, it has previously emphasized the importance of a smooth transition to maintain financial stability. SMEs experiencing significant issues may consider reaching out to FINMA or other regulatory bodies for support.
The next official update on the integration is expected in UBS’s second-quarter 2026 earnings report, scheduled for late July. In the meantime, affected SMEs are encouraged to document their experiences and escalate issues through formal channels.
Have you or your business been impacted by the UBS-Credit Suisse merger? Share your experience in the comments below or on social media using the hashtag #UBSIntegration. For more insights on global banking and economic trends, subscribe to World Today Journal’s business newsletter.