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.
Limited availability of e-finance, e-trading and customer support on 19 and 20 October 2019
We are further enhancing e-finance, PostFinance TWINT and e-trading for you. On Saturday 19 and Sunday 20 October 2019, the e-finance and e-trading services will therefore only be available to a limited extent.
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.
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.