Austrian Post and BAWAG P.S.K launch banking strategy

Austrian Post and BAWAG P.S.K. have launched a collective strategy to create a sustainable network of postal and banking branches throughout Austria. Byron Haynes, CEO of BAWAG P.S.K., and Georg Pölzl, CEO of Austrian Post, will introduce an “unparalleled” range of postal and banking services at over 500 locations.

Roll-out of this network will occur throughout the country by the end of 2012, with the first new branch offices opening later this year.

It is hoped the move will broaden the population’s access to banking and postal services throughout Austria.

Haynes said: “The new strategy means we can offer our customers access to our entire range of banking services all over Austria, especially in rural areas. Reorienting our sales structure is a logical consequence of our strategy ‘Enterprise Austria’. This new approach is also being reinforced by a new brand image: in the future, BAWAG P.S.K. will be present on the Austrian market under the banner of ONE, strong brand: BAWAG P.S.K.”

Pölzl stressed that “over the next two years, there will be a tangible increase in the supply of postal and banking services, thanks to this stronger cooperation.

He added: “Soon, our customers will be able to take care of their day-to-day postal and banking business at almost 2,000 locations, and at more than 500 branch offices they will also have access to top-quality banking services provided by highly-trained financial advisors.”

The new branch strategy means that all locations will function as fully-fledged banks.

The outlets of PSK BANK-Service, which have provided basic financial services so far, will be upgraded and expanded to offer the entire range of BAWAG banking services.

At the same time, all of BAWAG P.S.K.’s products and services will be made available at post offices as well.

All in all, 280 rural and 240 urban branches will be operated as offices of BAWAG P.S.K. and Austrian Post.

“This is a significant step towards meeting the needs of our savings and loan customers in particular, as personalised customer service is important for them,” noted Haynes.

Herbert Götz, chairman of the Management Board responsible for the branch network, said: “There will be at least one experienced financial advisor available at each of the more than 500 branches operated by the Bank and the Post. And, of course, there are also plenty of nearby Post Partners for customers to take care of their day-to-day financial and mail transactions. Thus, we can offer our customers top-quality postal and banking services at more than 2,000 locations.”

The branches, described as a ‘one-stop shop’, will include, a self-service centre, a counter area, and a banking zone for financial business.

Götz explained: “We project that within two years we will be able to develop an extremely effective network, which will allow us to offer unparalleled service. Customers and staff of both companies stand to benefit from this.” Haynes added: “With this significant reinforcement of the BAWAG P.S.K. sales network throughout the country, we are clearly underlining our commitment to business in Austria.”