Financial inclusion Poste Italiane undertakes to promote the right to access and inclusion by developing products and services that respond to social needs

Based on the experience gained in previous years in relation to the Covid-19 health emergency, which emphasised the value Poste Italiane places on people, especially in times of difficulty, the Group maintained its commitment to ensuring that its products and services are also available to those who cannot easily access them. Thanks to its extensive network, the Group was able to stay close to the community also during 2022, a year further affected by the conflict between Russia and Ukraine.

Poste Italiane supports the protection of the rights of local communities in order to ensure the accessibility of its products and services to those territories and categories of users who would otherwise not be able to access them, as set out in the Company’s Policy on the Protection and Safeguarding of Human Rights. At the same time, the Company undertakes to promote initiatives aimed at disseminating and supporting the right to study, economic sustainability and social connection, intercepting, thanks to the network of company resources, the needs deriving from the various forms of disadvantage.

The Group monitors its initiatives and its range of products and services by promoting continuous and structured dialogue initiatives, such as the annual dialogue with key stakeholders. The purpose is to monitor the needs of the community and the degree of satisfaction with the products and services offered. Poste Italiane uses principles of seriousness, reliability and elasticity in providing dedicated offers to all categories of customers to whom it caters, also on the basis of specific needs.

Furthermore, the Group maintained the program to relaunch postal savings, guaranteeing the improvement of the quality and efficiency of the services offered to customers, also through the implementation of the digital channel. In particular, online operations on BancoPosta current accounts for the purchase of Buoni Fruttiferi Postali were guaranteed 24 hours a day, 7 days a week. In addition, the variety of the Postal Savings Bond catalogue and the possibility of subscription also online make it possible to meet the various needs of consumers. Among the aforementioned Bonds, the following are noted:
 

• the 4X4 Bond, the interest of which, fixed and increasing, accrues at the end of each four-year period from the date of subscription and, after 4, 8 and 12 years, is also recognised in the event of early redemption;
• the 3X4 Bond, with interest, fixed and increasing, accruing at the end of each three-year period from the date of subscription and, after 3, 6 and 9 years, is also recognised in the event of early redemption;
• the 3X2 Bond, with interest, fixed and increasing, accruing at the end of each three-year period from the date of subscription and, after three years, also recognised in the event of early redemption;
• the 3-Year Plus Bond, with a term of 3 years, provides for the capital invested and interest to be recognised at the end of 3 years;
• the Ordinary Bond, the interest on which is fixed and increasing and is paid after one year from subscription and every two months thereafter. It is possible to request redemption at any time, within the statute of limitations, the return of the invested capital and, one year after subscription, also the accrued interest;
• the Sustainable Savings Bond, which pays a fixed return and the possibility of earning, at maturity, a premium linked to the performance, if positive, of the STOXX® Europe 600 ESG-X index;
• the Renew Bond, dedicated to those who have redeemed an Interest-bearing Postal Certificate that expired after 20 September 2022 and within the placement period of the Renew Bond. It has a term of six years, with interest, fixed and increasing, accruing at the end of each three-year period from the date of subscription and after three years being recognised even in the event of early repayment;
• the Inheritance Solution Bond, dedicated to beneficiaries of an inheritance procedure concluded in Poste Italiane, recognises a certain yield at the end of the four-year period.

In order to encourage the use of the digital channel by all citizens, also taking into account the experience gained during the emergency period, Poste Italiane encouraged several communication campaigns aimed at promoting the online operation of postal savings. In order to encourage its customers to manage their postal savings online, the Company offers a wide range of services available through digital channels, ranging from displaying balances and movements for holders of a “Libretto Smart” or “Ordinario” to the management of the “Libretto Minori” by parents, from the subscription of dematerialised postal savings bonds to the transfer of money between books and BancoPosta current accounts, to the recharging of Postepay cards and the association of IBAN to the book. As of 2022, the Group also made it possible for the legal guardian to carry out online transactions with the “Libretto Minori”.

With a view to digital and financial inclusion and in line with the country’s objectives, Poste Italiane has confirmed its considerable contribution in Italy in providing digital identity to citizens, the Public Digital Identity System (SPID) which aims to provide users with a single login system with which to access all the services of the Public Administration. During 2022, more than 6 million new digital identities were activated and more than 1 billion accesses were executed through this system. It is also possible for younger people to request activation of the digital identity: parents or guardians of minors can request activation of the SPID by accessing their personal area and managing access authorisations.

For further insights into the products, services and ways through which the Group supports and incentivizes financial inclusion of traditionally excluded groups, see the attached document .