A leading book on business strategy and innovation claims, “through innovation, business organizations can change the world.”
A 2010 study on global postal innovation by Capgemini states “there is a general tendency among all postal operators to diversify by investments outside their core business (mail, parcel),” especially into the logistics and financial services areas. Among European operators, Poste Italiane, Swiss Post, Deutsche Post DHL (Germany), and Austrian Post, in particular, have increased their share of non-core business.
Poste Italiane introduced the Postepay prepaid card at the end of 2003. Over 5.6 million customers in Italy have used this reloadable card, which allows them to make purchases and withdraw cash from ATMs. There is a one-time fee of €5 ($6.44) for opening the account and adding funds to the card or withdrawing money costs €1 ($1.29) at an Italian Poste.
A number of other posts have made their own innovative marks. Canada Post in partnership with BackCheck, now offers ID verification at their locations. Post Denmark, working with financial partners, signed almost 3.5 million users for its eBoks digital mail service, almost 2/3 of the population. Austrian Post operates a banking network called PSK BANK, which has trained financial advisors at every postal branch and offers services including:
- Free bank accounts.
- High-yield insurance products such as retirement planning products.
- Eastern European stocks.
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