PostFinance to process payment transactions on behalf of Ticino Cantonal Bank

Starting in the first quarter of 2009, Ticino Cantonal Bank will be handing over responsibility for the processing of payment transactions to PostFinance. The future outsourcing of payments will affect a total of 15 TCB employees. PostFinance will be taking on a part of these employees at its centre in Bellinzona, thus retaining jobs in the canton of Ticino. Both institutions will work together to ensure that the employment conditions of these employees remain the same. Ticino Cantonal Bank will endeavour to find an acceptable solution for the remaining employees. Customers of TCB will not be affected by these changes. The bank will remain your point of contact in the future and the quality of payment transactions will remain the same.

By choosing PostFinance, Ticino Cantonal Bank has secured a collaboration with the leader in the field of payment transaction in Switzerland. For the financial arm of Swiss Post, this represents a further step towards becoming a leading provider of payment transaction processing for other banks. Since autumn 2005, PostFinance has been responsible for processing payments for UBS and has also handled payment transactions for Glarner Kantonalbank since the beginning of 2007.

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