The contract between the two companies expires with the end of October and it seems that it will not be extended
In spring it still seemed like the cooperation between the bank and one of the biggest retailers on the Polish market would be continued and developed. Alior even introduced information about personal accounts that the bank was going to offer exclusively to Tesco customers in its bylaws. The accounts were supposed to be introduced as part of a range of products offered jointly by the companies - such as credit cards or cash loans. It seems, however, that those plans have changed.
The Tesco Finanse website currently informs that Tesco has ended its cooperation with Alior on the financial services project. “We would like to inform our customers that the cooperation between Alior Bank and Tesco Polska on the ‘Tesco Finanse’ project will end on October 31st, 2017. This implies that, beginning November 1st, you will not be able to sign a new contract for Alior Bank products or submit any instructions regarding previously signed contracts at Tesco Finanse outlets”, the message states.
Alior inherited the Tesco cooperation from Meritum Bank, a company it had taken over several years ago. From what I know the bank had big expectations when it came to the deal, which manifested itself in the fact that it wanted to sell personal accounts together with the retailer. Maybe the plans were changed after Wojciech Sobieraj left Alior - or perhaps the cooperation did not fit within the digital rebel's new strategy, which is currently being implemented by the bank? Alior declined to comment on the reasons for ending its cooperation with Tesco.