New force in Swiss lending business PostFinance to cooperate with Valiant
As of autumn 2009, PostFinance and Valiant will be working together in the lending business. SMEs and private customers throughout Switzerland will benefit from this arrangement. The two partners will establish a joint processing centre in Berne for their lending business. The centre will employ staff from both companies. Thanks to this cooperation, PostFinance has closed an important gap in its offering and will soon be able to provide its retail customers with a complete range of services.
For legal reasons, PostFinance is not permitted to offer loans independently. It has therefore been collaborating with banks for many years in the lending business. PostFinance is now continuing this practice with Valiant. Thanks to this cooperative arrangement, the financial institution will be expanding its product range for business and private customers as of autumn 2009, thus sealing the final gap in its service offering. The collaboration with Valiant is replacing that with UBS, with which PostFinance had previously offered loans to SMEs. Despite their collaboration on the market, PostFinance and Valiant will remain competitors.
The Swiss economy will benefit from this partnership: SMEs and private customers will have a greater choice when it comes to financing their companies and their homes. Thanks to PostFinance’s experience in sales, Valiant will be able to strengthen its position in the lending business throughout Switzerland. As a result, Valiant’s operating volume and earnings potential will also increase. Furthermore, as a result of this cooperation, PostFinance has closed a significant gap in its offering and will be able to provide its retail customers with a complete range of services. From the financial institutions’ perspective, the current market situation is ideal for them to position themselves as a new force in the Swiss lending business.
The business customer segment plays a crucial role in PostFinance’s growth strategy. PostFinance will increase the number of customer advisors from now 700 to 1,000 over the coming years. Thanks to the cooperation with Valiant, PostFinance an now also offer a comprehensive range of products for SMEs. As part of the cooperation, PostFinance will be taking over the responsibility for marketing and the sale of loans. Valiant will be responsible for the risk policy, bear the credit risk and be accordingly remunerated.
