Postfinance has officially been a bank for three years. Now, the banking industry association has decided to accept it as a member organization.
The Swiss Bankers Association has accepted Postfinance as a new member. The board agreed to its application, Postfinance said in a statement today. With the membership at the Bankers Association, Postfinance also joins the organization Swiss Banking Ombudsman.
Postfinance received its official banking license three years ago and has to submit to the same rules and duties as a bank. With the banking license, it forewent the state guarantee it previously had as a state-owned corporation.
Challenging Environment
Postfinance decided to join the industry association because it is convinced that the challenging economic, political and regulatory environment demanded a collective representation of interest by the Swiss banks.
Being part of the Bankers Association furthermore gives Postfinance the opportunity to represent the interests of its customers in the various working groups.
Postfinance is the financial-services unit of Swiss Post.
