Wary savers flee from banks to Poste Italiane
The Italian state-owned group is taking an increasing share of savers’ deposits as the financial crisis has raised concerns over the safety of banks.
Read MoreTag: Poste Italiane
Prime Minister visits Poste Italiane hub
CEO Massimo Sarmi shows the Premier the new postal services control rooms and the innovative new services.
Read MoreEU OKs aid on Poste Italiane bond distribution
Remuneration paid by Italy to Poste Italiane for postal bond distribution between 2000 and 2006 did not constitute illegal state aid because it was in line with market rates, the European Commission ruled on Wednesday. .
The Commission started looking into Poste Italiane’s activities in postal bond distribution in 2006, following a complaint.
Poste Italiane is remunerated for distributing postal savings books and postal bonds on behalf of Cassa Depositi e Prestiti, whose mission is to foster the development of public investment, local utility infrastructure works and major public works of national interest.
Postal bonds are fund-raising instruments with a low risk profile, as reimbursement is state-guaranteed. The services of placement, management and redemption of postal bonds have to be free of charge for the subscribers.
The collection of postal savings through Poste Italiane on behalf of Cassa Depositi e Prestiti has been qualified as a Service of General Economic Interest since October 2004.
This means Poste Italiane is entitled to receive remuneration for the distribution of postal bonds as compensation for the provision of this public service obligation.
Since 2000, this remuneration has been based on successive Italian conventions.
2008 Competitive Market Review L13983
2008 Competitive Market Review
Read MoreXi-Sign 4000 strong authentication deployed by Banco Posta Online
Poste Italiane (the Italian Post) has chosen XIRING’s Xi-Sign 4000 as the strong authentication solution for its online banking service, BancoPostaOnline.
Following a European call for tender, Poste Italiane selected XIRING and its Italian partner Sheltering, to provide strong authentication solutions to secure the company’s e-banking customers using the BancoPostaOnline service and BancoPostaClick, the new online current account of Poste Italiane. The contract plans 730 800 Xi-Sign 4000 delivered with associated services.
The Poste Italiane Xi-Sign 4000 is a personal strong authentication card reader based on the Chip and PIN Postamat Maestro card, the debit card connected to BancoPosta accounts issued by Poste Italiane. By providing such a security solution for online banking users, banks and financial services providers are creating the trusted environment required to develop new value-added services.
Read MorePost & Parcel Magazine
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.