Despite lower result: Swiss Post on the right track in challenging environment
In the year under review 2018, Swiss Post achieved good results in many units. However, at 405 million francs, Group profit was down 122 million francs year-on-year. In particular, the difficult operating framework at PostFinance and the settlement for repayments following the events at PostBus contributed to the lower result. At 501 million francs, operating profit (EBIT) was 217 million lower than in the previous year. This confirmed Swiss Post’s expectations.
PostFinance launches digital mortgage brokerage platform
With the Valuu app, PostFinance has launched the first fully digital mortgage brokerage platform. It provides users with easy, fast access to a suitable mortgage from various providers, regardless of time or location – whether it be a new purchase or replacement.
Q3 2018: Quarterly figures confirm Swiss Post’s forecasts
Swiss Post achieved good results in many units again in the third quarter of 2018. At 317 million francs, Group profit, however, was down 186 million francs year-on-year, confirming Swiss Post’s forecasts. The difficult operating framework at PostFinance and corrections at PostBus are the main factors which continue to impact Group figures. This is also reflected in the operating profit (EBIT) of 384 million francs.
Giulia Fitzpatrick and Jürg Brun named as new members of the PostFinance Board of Directors
The extraordinary PostFinance Ltd General Meeting has elected Giulia Fitzpatrick and Jürg Brun, both of whom were nominated by the Swiss Post Ltd Board of Directors, as new members of the PostFinance Ltd Board of Directors. They succeed Susanne Ruoff and Adriano P. Vassalli, who have left the Board.
PostFinance chatbot now available in French
PostFinance has set up a virtual assistant on its website – the first Swiss financial institution to do so. It automatically and quickly answers questions that customers frequently ask whilst maintaining the same level of quality. The virtual assistant has also recently learned French. PostFinance worked together with the IT service provider, ELCA, for the development of the chatbot.
PostFinance to introduce new prices
PostFinance is operating in a challenging economic and regulatory environment. As interest rates have been low or even negative for years, its interest margin is being eroded. One reason for this is the Postal Services Organization Act, which prevents PostFinance from issuing its own loans and mortgages. The policy decision made by the Federal Council on 5 September 2018 will not affect this situation for the time being. PostFinance will therefore introduce industry-standard prices for certain products and services which no longer cover costs from 1 January 2019.
Cards retained on Saturday, 15 September 2018: customers to receive a new card
On Saturday 15 September 2018, some Postomats retained the PostFinance Cards of certain customers due to a technical error. This error has been resolved. Customers will automatically receive a new PostFinance Card free of charge by Tuesday, 25 September at the latest. Customers who have incurred additional costs can get in touch with the Contact Center on 0848 888 710. We apologize for any inconvenience.
Swiss WCM Summit 2018: Swiss companies need to act on supply chain finance
At the Swiss WCM Summit held on 28 August 2018 in Zurich, the Supply Chain Finance Lab at the University of St. Gallen and PostFinance presented the findings of their latest study on the trend topic of supply chain finance. This is currently a key issue for many CEOs and CFOs. It is clear that innovative solutions for financing the supply chain are available, and Swiss companies also believe they offer potential. They are nevertheless still lagging behind when it comes to using them.
Considerable decline in interim result at PostFinance
PostFinance generated earnings before tax (EBT) of 125 million francs in the first half of 2018. That is 247 million francs less than in the first six months of the previous year. This decline was mainly due to a significant drop in income from the interest differential business and to a one-off item in the previous year. This negative development is in line with expectations created by the persistently low interest rates on the money and capital markets, and the trend is set to continue.
“Great Place to Start” – PostFinance wins an award for providing exemplary apprenticeships
PostFinance’s Competence Center for Young Professionals (CCYP) has been presented with the “Great Place to Start” award as one of the best apprenticeship providers in Switzerland for 2018. The award recognizes companies with an exemplary workplace culture for apprentices. The company training scheme and an anonymous survey conducted amongst apprentices carry equal weighting in the certification procedure.
Maximum security in online banking
PostFinance is transforming itself from a traditional financial service provider into a digital powerhouse, and, by the end of 2020, aims to be Switzerland’s leading digital bank. This leading position is not only about products, services and processes, it’s also about providing customers with secure protection against cyberspace threats.
PostFinance completes consultation process
PostFinance’s 2018 consultation process is now complete. The Executive Board confirms the measures planned for 2019. Proposals by staff are taken on board and followed up. The company has agreed on measures with its social partners to accompany the redundancy package.
PostFinance is forming a professional e-sports team
On 1 January 2019, the PostFinance e-sports team will enter the battle arena. The financial service provider is offering five young adults the chance to spend a year receiving professional guidance and playing the strategy game, “League of Legends” at the highest level in Europe. As such, PostFinance is launching an experimental format which will support its transformation into a digital powerhouse and leading digital bank in Switzerland.
Job cuts at PostFinance
PostFinance is undergoing fundamental change: society – and with it, banking – is becoming increasingly digital, bringing about fundamental changes in customers’ needs and behaviour. At the same time, PostFinance is suffering badly from the current negative interest rate environment due to the ban on issuing its own loans and mortgages.
PostFinance profit declined in first quarter
In the first three months of 2018, PostFinance generated operating profit (EBIT) of 96 million francs, 140 million francs less than the result recorded during the same period the previous year. The decline is mainly due to one-off items last year and significantly lower income from the interest differential business. This development is in line with expectations created by the persistently low interest rates on the money and financial markets, and the trend is set to continue.
PostFinance helps 1000 wishes come true
PostFinance is promoting young Swiss sporting talent in its role as a main partner of www.ibelieveinyou.ch/en, the first crowdfunding platform exclusively for Swiss sport. Already at the end of March 2018, the 1,000th project has been able to benefit from this commitment.
PostFinance will be updating its banking software over the 2018 Easter weekend
PostFinance will be updating its banking software over the 2018 Easter weekend (29 March-2 April 2018). Some services will therefore be unavailable or only available on a restricted basis for 2.9 million customers during this period. The market leader in Swiss payment transactions is laying the foundations for further digitization of its business through this migration.
Swiss Post holds its ground despite lower profit – situation at PostBus impacts 2017 Group result
In the year under review 2017, Swiss Post generated profit of 420 million francs. In the previous year, this figure was 558 million francs. The annual result was significantly influenced by the irregular accounting practices in segment accounting at subsidiary PostBus Switzerland Ltd, which were first reported in February.
PostFinance and social partners reach agreement
Over the past few weeks, discussions took place between PostFinance and its two social partners with signing rights (the staff association transfair and the trade union syndicom) to define the precise structure of the framework conditions for this transition to another section of the company.
PostFinance becomes first Swiss financial institution to launch chatbot
PostFinance has set up a virtual assistant on its website – the first Swiss financial institution to do so. The chatbot is available around the clock and generates automatic replies to customers’ most frequently asked questions. It was developed by the IT service provider ELCA.
Q3 2017: Swiss Post achieves good result in difficult environment
In the first nine months of 2017, Swiss Post achieved Group profit of 516 million francs, which represents an increase of 50 million francs year-on-year. The operating profit of 699 million francs was 106 million francs up on the prior-year figure.
PostFinance acquires participation in Sentifi
PostFinance has acquired a minority stake in the Swiss fintech start-up Sentifi. With the help of artificial intelligence, Sentifi analyses unstructured data from social media such as news feeds, blog posts or Twitter messages, and prepares it for financial investors.
Interim results 2017: Swiss Post remains on track with good interim result
In the first half of 2017, Swiss Post generated Group profit of 394 million francs (previous year: 313 million francs). Operating profit (EBIT) rose to 547 million francs, representing an increase of 164 million francs. A large part of this – around 155 million francs – was due to the improved result in the financial services market. Efficiency measures, the restructuring of the post office network and the ongoing adjustment of our services to adapt to changing customer behaviour also contributed to the good result.
Corporate venturing: PostFinance acquires participation in wikifolio
PostFinance has acquired a minority interest in the social trading platform wikifolio. wikifolio combines financial investments with the principles of social networks: traders publish their trading activity on the platform in practice custody accounts. Followers can benefit from the traders’ expertise by replicating their investment strategy.
PostFinance Benefit: Suitable offers for PostFinance customers
PostFinance Benefit provides PostFinance’s private customers with discounts of up to 30% in a wide range of retail outlets and online shops based on their affinities. In order to use PostFinance Benefit, PostFinance customers must first consent to the analysis of their transactions.
1st quarter 2017: Swiss Post off to a good start
In the first quarter of 2017, Swiss Post generated Group profit of 267 million francs, representing an increase of 75 million francs year-on-year. Operating profit (EBIT) rose by 126 million francs to 333 million francs. This increase was mainly due to capital gains realized on the sale of two equity portfolios at PostFinance. The result was also boosted by ongoing efficiency measures in the core business and the further development of our services.
Gabriela Länger appointed new Head of Working Environment
The PostFinance Board of Directors has appointed Gabriela Länger as the new Head of Working Environment from 1 November 2017. In this role, she will also be joining the financial provider’s Executive Board. Working Environment covers both the Human Resources and Logistics units with more than 100 employees.
New website for PostFinance
The PostFinance website received a new look last weekend. The fully revised website comprises lean structures, a functional search engine, easily understandable contents and a modern design. The user interface has been completely revamped to enable customers to access the contents relevant to them as quickly and easily as possible.
The financial center presents the new QR bill
As of January 2019, the QR bill will replace the current orange and red Swiss inpayment slips. The Swiss financial center has today announced the technical specifications of the new solution. This has paved the way for the new solution to be connected to banks and software companies.
Swiss Post delivers solid result and increases investments amid growing pressure on its core business
Swiss Post is continuing to face pressure in its core business due to the accelerating pace of structural change. As a result, Swiss Post recorded an operating profit (EBIT) of 704 million francs for 2016. That is 119 million francs less than in the previous year. Operating income is solid at 8,188 million francs.
Financial services: PostFinance makes changes to interest rates and fees
Interest rates on national and international markets continue to be at historic lows and are mostly even in the negative. Due to the lending prohibition, it is becoming increasingly difficult for PostFinance to find profitable investments for the customer deposits entrusted to it. As a result, it loses out on income equivalent to a figure in the double-digit millions each year. At the same time, ever stricter regulations are leading to higher expenses and costs. The financial service provider has therefore decided to increase the fees for individual products which are no longer covering costs, to reduce interest rates on accounts and interest limits, and to extend the fee on the credit balance.
PostFinance acquires participation in Swiss fintech Tilbago
On 24 October 2016, the Lucerne-based fintech company Tilbago is launching software with the same name for processing debt collection proceedings. PostFinance has acquired a minority interest in Tilbago AG and will combine the solution with its accounts receivable management tool, PostFinance Smart Business.
EFT/POS transaction fees: PostFinance and price regulator reach agreement
As of 1 January 2017, PostFinance will lower transaction fees for cashless payment at points of sale (EFT/POS) for certain business customer segments. After a period of negotiation, the financial service provider and the price regulator have reached a mutual agreement. As a result of this agreement, PostFinance’s revenue from EFT/POS transactions will fall by around four million francs a year in 2017 and 2018.
Interim results: Swiss Post’s profit declines in difficult market environment
In the first half of 2016, Swiss Post generated Group profit of 313 million francs (previous year: 391 million francs). The market environment in which Swiss Post operates continues to be difficult: operating profit (EBIT) fell to 383 million francs (previous year: 504 million francs) due to lower contributions to the results from the financial services, communication and logistics markets.
A fresh look for PostFinance branches
Since the beginning of July, the PostFinance branch at the Basel Clara-Shopping center has acquired a fresh, new look: The financial service provider has implemented a new design concept in the customer zone. This makes visiting the branch an emotional experience.
Finform brings the deluge of forms under control
The Swiss FinTech company, Finform, will be beginning operations on 1 July 2016. The innovative software and service provider is a joint venture of PostFinance and AXON IVY. Finform will reshape the industrialization of banking processes and, in doing so, will help keep the swelling deluge of forms under control.
PostFinance makes changes to interest rates
Interest rates on national and international markets continue to be at historic lows and in some cases are even in the negative. At PostFinance, this is leading to constant pressure to achieve solid results, due to the lack of investment opportunities. The financial service provider is therefore lowering customer interest rates on various accounts as of 1 August 2016.
Q1 2016: Subdued result due to difficult market environment
In the first quarter of 2016, Swiss Post achieved Group profit of 192 million francs, which is 33 million francs down on the previous year's figure. Operating profit (EBIT) fell to 207 million francs (previous year: 292 million francs). This reduction is due to the lower contribution to results from three of Swiss Post's four markets.
PostFinance acquires equity interest in SBPS Ltd
PostFinance has acquired a 9% interest in the share capital of Swiss Bankers Prepaid Services Ltd (SBPS). This will enable both companies to strengthen their long-standing cooperation in the area of travel payment methods. Following this commitment, Nicole Walker, Head of Product Management Payment Solutions at PostFinance, was appointed to the Board of Directors of SBPS.
PostFinance joins the Swiss Bankers Association
PostFinance is now a member of the Swiss Bankers Association (SBA). The SBA’s Board of Directors approved the financial service provider’s membership request during its meeting on 19 May 2016. By joining the SBA, PostFinance is now also affiliated with the Swiss Banking Ombudsman institution.
PostFinance launches new e-trading
E-trading from PostFinance has a new look. The financial service provider now offers its customers a redesigned, intuitive user interface that they can personalize. This makes securities trading even easier for its 60,000 or so e-trading customers. They can trade shares, bonds, funds, ETFs and derivatives themselves on the most important stock markets in Switzerland, Europe and North America in real time. The new e-trading was developed by Swissquote.
Switzerland's biggest post office opens in Berne
Switzerland’s biggest post office began operations today at the newly built PostParc at Berne Central Station. With 18 counters, the large branch offers extended opening hours and a comprehensive range of services for private and business customers. The services are supplemented by a PostFinance branch and a My Post 24 terminal. For business customers, Swiss Post is opening an additional business customer acceptance point at Kornhausplatz.