Swiss Post welcomes wide-ranging discussion – including on digital services
Swiss Post received the report of the committee chaired by former Council of States member Christine Egerszegi today. Swiss Post CEO, Roberto Cirillo, will set out the company’s position on this report following a thorough examination of the committee’s proposals.
How the pandemic is changing consumer behaviour in Switzerland
The coronavirus pandemic is turning many people’s lives upside down. This is clearly reflected in consumer behaviour. PostFinance evaluated the payment data of the average Swiss resident over the past two and a half years and obtained some fascinating insights. For example, less is being spent on public transport and foreign travel.
Q3 figures: Swiss Post recovers from the financial impact of the coronavirus pandemic
Swiss Post’s financial expectations were largely met in the third quarter of 2021. In the first nine months of the year, it generated Group profit of 370 million francs, some 234 million more than in 2020, a year impacted by coronavirus, and 107 million more than in 2019.
E-trading from PostFinance celebrates its 20th anniversary
In 2001, PostFinance launched e-trading, making it one of the first banks in Switzerland to offer a platform for online securities trading. As a pioneer in independent digital investment, it has continuously developed this service over the intervening years, while also expanding its range of other investment services.
Benjamin Staeheli to become new Head of Payment Solutions
The PostFinance Board of Directors has appointed Benjamin Staeheli as the new Head of Payment Solutions as of 1 January 2022. In this role, he will be joining the financial service provider’s Executive Board. With more than 250 employees, the Payment Solutions unit ensures a first-class service for payment and payment collection solutions for retailers and invoice issuers.
Contactless payments without PIN: limit raised to 100 francs for the PostFinance Card
From mid-August 2021, PostFinance will become the first Swiss bank to raise the limit for contactless payments without PIN entry from 80 to 100 francs for its own debit cards. In doing so, it is responding to demand from many of its customers and making contactless payment at payment terminals even easier.
Swiss Post makes a good start to 2021
In its results for the first quarter of 2021, Swiss Post recorded slightly higher Group profit, somewhat lower operating profit and stable revenue year-on-year. Swiss Post began the new strategy period well under the new Group structure during the first three months of the year. It started equally strongly in terms of day-to-day operations. Parcel volumes, which remained high, were processed reliably under the new organizational structure.
Marcel Bührer to be appointed new Chairman of the Board of Directors at PostFinance
At the General Meeting on 26 April 2021, the PostFinance Ltd Board of Directors will recommend that Marcel Bührer be appointed as its new Chairman. He is to succeed Rolf Watter, who will step down from the role at the end of June 2021. With many years of experience and extensive knowledge of retail banking, payment transactions and the digital arena, Marcel Bührer is the ideal candidate to ensure the company’s success during the 2021–2024 strategy period.
Two-thirds of new entries in the Swiss commercial register are startups
PostFinance carried out a study on new entries in the Swiss commercial register between December 2020 and January 2021. Research was conducted for the first time – in collaboration with the IFJ Institut für Jungunternehmen and the LINK Institut – into the actual number of startups being founded in Switzerland.
PostFinance to launch banking packages
As of 1 July 2021, PostFinance is bundling together its accounts and services into two clear banking packages: Smart and SmartPlus. The new banking packages provide private customers with everything they need to manage their day-to-day finances. Anyone who has invested assets of at least 25,000 francs, a mortgage or a life insurance policy with PostFinance will save on fees.
Swiss Post delivers strong performance despite lower annual result
In 2020, Swiss Post generated Group profit of 178 million francs, down 77 million francs year-on-year. At 272 million francs, operating profit (EBIT) was down 178 million francs. Coronavirus has been a major challenge for Swiss Post in all units. In the face of the diversity and scale of this challenge, Swiss Post management is satisfied with the result. The pandemic clearly shows that Swiss Post’s new strategy is both important and correct. Swiss Post must invest and act sustainably now to ensure that it can continue to guarantee the universal service from its own resources in the future.
Alessandro Rausa appointed new CEO of Finform
On 1 April 2021, Alessandro Rausa will take over the operational management of Finform AG as CEO. The various positions held by the 47-year-old – including CEO of beem, founder and Chief Product Officer of TWINT as well as leadership positions at PostFinance for many years – make him the perfect fit for the Swiss fin-tech and reg-tech company.
New PostFinance App now available
Simple, intuitive and with a clear design: the new PostFinance App is now available. It enables customers to conduct their banking transactions even faster – whenever and wherever they wish. Those who used the previous app only have to update it – the new app is already available on the smartphone.
Start-up tilbago is making it easier to obtain credit standing information with “tilbago CredRep”
The start-up company tilbago – in which PostFinance holds a participation – has been operating successfully for four years with the online payment collection solution of the same name. The company launched a new service on 8 February 2021.
Valuu triples mortgage volume
Valuu, the independent Swiss platform for comparing and taking out mortgages, is celebrating its second birthday. Compared with its first year, Valuu has tripled the volume of mortgages brokered. It currently boasts around 12,000 users and works together with 29 lenders.
Current inpayment slips to be withdrawn from the market by 30 September 2022
PostFinance hat das Enddatum der roten (ES) und orangen (ESR) Einzahlungsscheine auf den 30. September 2022 festgelegt. Sie unterstützt damit die Digitalisierung des Rechnungswesens sowie die entsprechenden Nachfolgeprodukte QR-Rechnung und eBill. Den reibungslosen Umstellungsprozess stellt PostFinance gemeinsam mit dem Schweizer Finanzplatz sicher.
postfinance.ch and e-finance are accessible to all
PostFinance websites have ensured accessibility for over a decade. The financial services provider has obtained certification from the “Access for All” foundation for the fifth time after 2009, 2012, 2014 and 2016. This means PostFinance provides good accessibility to its online services for everyone.
Q3 figures: Coronavirus pandemic also weighs on Swiss Post’s result
Swiss Post’s result for the first three quarters of 2020 is down year-on-year. At the same time, however, it appears to be stabilizing somewhat, which means that the impact of the coronavirus pandemic on Swiss Post’s finances at the end of the year may be less severe than expected after the second quarter. The annual result is now largely dependent on how the pandemic continues to develop and on business over the festive season.
Limit for contactless payment without PIN to remain at 80 francs
In April 2020, PostFinance increased the limit for contactless payments without PIN entry with its cards from 40 to 80 francs. In consultation with the other card providers in Switzerland, this limit is being retained for all credit, debit and prepaid cards.
Lower interim results additionally impacted by coronavirus crisis
In the first half of 2020, Swiss Post generated Group profit of 30 million francs, 163 million francs less than the prior-year period. The financial impact of the coronavirus pandemic on Swiss Post has been considerable, with a negative coronavirus effect of around 120 million francs on the interim results.
Lifting of the ban on loans and mortgages vital for PostFinance
Today the Federal Council opened the consultation procedure on the partial revision of the Postal Services Organization Act. The key element of the bill is the lifting of the ban on PostFinance providing loans and mortgages. Swiss Post and PostFinance expressly support the Federal Council’s proposal. It is essential that the ban is lifted for PostFinance and to ensure overdue equal treatment with other Swiss banks. With a strong PostFinance, Swiss Post can maintain public service provision for Switzerland and viably improve it for the future.
Felicia Kölliker joins esisuisse Board of Directors
Felicia Kölliker, member of the Executive Board of PostFinance Ltd, Switzerland, was elected to the Board of Directors at the Annual General Meeting of esisuisse members on 3 June 2020. She replaces Patrick Graf, who is leaving the Board of Directors after six years of service.
Quarterly result down as expected – effects of coronavirus crisis significant
Swiss Post generated a lower result in the first quarter of 2020 than in the prior-year period. Group profit fell by 46 million, while operating profit came in at 57 million francs below the comparable figure for 2019. The financial consequences of the coronavirus pandemic were already evident in the first three months and are likely to have a significant impact on Swiss Post’s annual result. The extraordinary situation has accelerated relevant developments and shows just how important Swiss Post is to Switzerland – especially in terms of logistics. It is vital that Swiss Post continues to drive forward its transformation to overcome its major, longstanding challenges.
PostFinance launches four new investment solutions
PostFinance is expanding its range of investment products and launching four new digital investment solutions. Customers can select the level of support provided in line with their own requirements – from making investment decisions independently to complete management by PostFinance.
Restrictions on contactless payments to be temporarily eased
PostFinance is temporarily raising the limit for contactless payments without PIN entry on its payment cards from 40 francs to 80 francs. This enables customers and sales staff at checkouts to better protect themselves against the risk of infection from the new coronavirus.
Even easier mortgage comparison thanks to Valuu
The digital brokerage platform Valuu now offers its users a clearer overview when searching, comparing and taking out mortgages. This makes it easier for customers to access favourable interest rates from the comfort of their sofa – and also to receive personal advice from an expert.
Annual result in line with expectations
Swiss Post generated Group profit of 255 million francs in 2019, a decline of 149 million francs compared to 2018. At 450 million francs, operating profit (EBIT) was 55 million francs lower, down 11 percent year-on-year. These results are unsurprising as Swiss Post continues to operate in a challenging environment.
Social partners agree on individual salary increases of 0.8 percent
This year’s pay negotiations between Swiss Post, PostFinance, syndicom and transfair have been successfully concluded. The social partners have agreed on salary measures of 0.8 percent and will increase the minimum wage by 200 francs. The changes will be implemented with the salary payment in April 2020.
Valuu celebrates first anniversary
Valuu has 6,000 registered users, is listing 17 mortgage lenders, is available as an app and in a desktop version, is available in French as well as German, and has brokered over CHF 100 million in financing solutions. A new user interface offering an even better experience is also set to be launched.
PostFinance to increase counter payment fees
As of 1 July 2020, PostFinance will be increasing the fees for making inpayments at branch counters and at other physical Swiss Post access points. This will apply to inpayments with red inpayment slips (IS) and orange inpayment slips with reference number (ISR).
Q3 figures: Results in line with expectations in a challenging market
In the first three quarters of 2019, Swiss Post achieved a Group profit of 263 million francs, which is 54 million francs lower than in the previous year. The decisive factor behind this downturn are the challenging market conditions, resulting in a reduction in interest income at PostFinance of 129 million francs.
PostFinance campaign sees digital banking speak to customers and passers-by
Since the end of October, PostFinance has been focusing on its digital banking with a large-scale advertising campaign. It will run throughout Switzerland until 24 November. Various statements about digital banking appear on posters, flyers, online advertising, Postomat screens and the website as well as in branches, on social media, TV and WebTV, advertising PostFinance’s digital banking features that save time and are available at all times.
Bernadette Koch appointed as a new Member of the Board of Directors of PostFinance
The extraordinary PostFinance Ltd General Meeting has elected Bernadette Koch, who was nominated by the Swiss Post Ltd Board of Directors, as a new member of the PostFinance Ltd Board of Directors. She succeeds Marco Durrer, who has stood down from the Board of Directors. In Bernadette Koch, PostFinance is gaining someone with in-depth knowledge of the Swiss banking landscape and who has a broad, cross-sector network at her disposal.
Interim results for 2019: Swiss Post needs new sources of income
Lower interest income from PostFinance and continually falling letter volumes had an impact on Swiss Post figures in the first half of 2019. With a profit of 193 million francs, the Group’s earnings were 25 million francs lower year-on-year. The operating profit (EBIT) was also lower. Swiss Post Head of Finance, Alex Glanzmann, sees a need for action.
Quarterly result reflects challenges facing Swiss Post
Swiss Post generated a lower result in the first quarter of 2019 than in the prior-year period. At 130 million francs, Group profit was down 17 million francs year-on-year. At 172 million francs, operating profit (EBIT) was also 35 million lower than in the previous year.
LEND acquires Lendico and enters into partnership with PostFinance
PostFinance and Switzerlend AG − the parent company of the crowdlending platform LEND.ch − have agreed to enter into a close partnership: LEND will take over 100% of the PostFinance subsidiary Lendico Schweiz AG. In return, the financial service provider will acquire a participation in LEND and will bring its strong brand to the relationship.