Polish banking clients show 'loyal but unfaithful' behavior

The Polish banking sector faces a significant challenge, not from AI or fintech, but from evolving customer relationships with financial institutions. This shift is redefining how banks operate.

“

I have the impression that this issue will determine the change in banks' business models because the loyal customer is changing.

Historically, customer loyalty in Poland was defined by having a primary account and gradually adding more products from a single bank. However, this model is fading as customers increasingly explore competitive offers from different banks. While Poles remain loyal and trust their banks, they are also more willing to engage with competitors, leading to a phenomenon described as "loyal but unfaithful."

"I have the impression that this issue will determine the change in banks' business models because the loyal customer is changing," said Małgorzata Tomasikiewicz, director of individual customer relationship banking development at Alior Bank. This "multi-relationship" trend, where customers divide their banking activities across several institutions, is becoming common.

“

Poland is becoming a country in Europe where so-called customer multi-relationships occur.

Customers typically maintain one primary bank, often where their salary is deposited and their main financial life occurs. However, they also utilize services from other banks, driven by growing financial literacy and the pursuit of better financial benefits. This behavior challenges the traditional banking model, which assumed a single primary institution defined customer loyalty.

“

Customers today divide their relationship among several banks, and only one is the main one. Usually, it is of course where the salary is deposited, where financial life beats the most.