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Development of synergies with key stakeholders, including the post, for efficient and reliable global payments. Agenda. About Eurogiro The remittance market First to last mile Collaboration is key Conclusion. What Eurogiro is.

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slide1
Development of synergies

with key stakeholders,

including the post, for efficient and reliable

global payments

agenda
Agenda
  • About Eurogiro
  • The remittance market
  • First to last mile
  • Collaboration is key
  • Conclusion
what eurogiro is
What Eurogiro is
  • A community of banks, postal organisations and financial service providers, co-operating on international payments – established in 1989.
  • Global network for electronic exchange of low-value payments between members.
  • A gateway providing connectivity to other financial service alliance partners.
61 connections in 48 countries
61 connections in 48 countries

Albania - Posta Shqiptaresh.a.

Australia - ANZ Bank

Austria - BAWAG P.S.K.*

Belgium - La Poste SA - De Post NV*

Bosnia/Herzegovina

- Nova Banka

Brazil - EmpresaBrasileira de Correios

e Telégrafos – ECT

- CaixaEconômica Federal

Bulgaria - Bulgarian Posts

- Finance Engineering

Canada - National Bank of Canada

Cape Verde - Cape Verde Post

China - Postal Savings Bank of China

Croatia - Croatia Post

Czech Republic - CSOB

Morocco - BanqueCentralePopulaire

- Barid Al Maghrib

Mongolia - XacBank

New Zealand - ANZ National Bank

Philippines - Philippine Postal Corporation

- Land Bank of the Philippines

Poland - PocztaPolska SA

Portugal - CTT Correios de Portugal*

Rep of Korea - Korea Post

Romania - Bancpost

- Posta Romana

Senegal - Postefinances

Serbia - Postal Savings Bank

Slovakia - - Postova Banka

Slovenia - Postna Banka Slovenije

Denmark - Sydbank

France - La BanquePostale*

Germany - Deutsche Postbank*

Greece - EFG EurobankErgasias

- Hellenic Post

Hungary - Magyar Posta

India - India Post

Ireland - An Post*

Israel - Israel Postal Company

Italy - PosteItaliane*

- BancaPopolarediSondrio

Japan - Japan Post Bank Co., Ltd.

Latvia - Latvia Post

Luxembourg - EPT Luxembourg*

Madagascar - Paositra Malagasy

Spain - BBVA

- Correos

Sri Lanka - National Savings Bank Sri Lanka

Switzerland - PostFinance/Swiss Post*

Thailand - Bangkok Bank

- Thailand Post Co

Togo - Societe des Postes du Togo

Turkey - Turkish Post

Tunisia - La PosteTunisienne

Ukraine - Ukraine Post

UK -Citibank N.A.

- Envoy Services Limited

USA - Deutsche Bank *

- Standard Chartered Bank

- Dirham Express

- Trans Fast Remittance

Vietnam - Vietnam Post

* Shareholder

why has eurogiro been successful
Why has Eurogiro been successful?
  • Exclusive and focused co-operation
  • Global cross border solution for ordinary payments through posts and banks, both cash and credits
  • Focus on low value payments for corporate, retail and institutional customers
  • All common payment products such as cash, credit, Cash On Delivery, pension, etc.
  • Compliance with EU and International directives
  • Strictly adhering to the compliance standards for carriers of financial transactions
  • Fixed time schedules for all products
  • Focus on standardisation and quality (STP 95-98%)
  • Strong alliance partners
  • Sub-contracting
    • downwards to network provider, software developer and other professional providers.
    • upwards in development aided by members
slide6

One agreement -

Multiple

Payment partners

Price Information

Billboard

Products & Settlement providers

KYC - document sharing

Test Certificate

Network

Solutions

The Eurogiro MLF Solution

eurogiro products and services
Eurogiro products and services
  • Products
    • Payment transfers
      • standard (max. 4 days) and urgent
        • to accounts with members
        • to accounts with 3rd banks
    • Money orders
      • standard
      • Eurogiro Cash International, semi urgent cash
      • Western Union urgent cash
    • Bulk and pension payments
    • Cash on delivery (COD)
eurogiro cash international the eci
Eurogiro Cash International- The ECI®

Key features:

  • Cheap, Easy and Reliable Workers Remittance Product
  • 2 day ‘OUR’ product.
  • In-paying customer informs beneficiary
  • Out-payment in any Eurogiro ECI® member office
  • Possibility of informing receiver and sender through SMS service.
  • Currencies: Any currency possible
  • Remuneration:
    • MLF pricing or to be agreed upon bilaterally
  • Transactions can be tracked and traced
eurogiro products and services next to payments
Eurogiro products and services – next to payments
  • Services
    • Turn-key installation & training
    • Connectivity Certificate
      • A central testing facility for initial testing of the connectivity and the exchange of Eurogiro message transfers
    • SMS services
      • ECI SMS notify
        • Notifying sender and receiver of Eurogiro Cash International®transaction status
      • SMS Messaging Service
    • KYC data sharing service (for MLF participants only)
    • Regular member meetings (Eurogiro Community Meeting, Technical User Group Meeting, Bilateral status meetings with Eurogiro)
    • Handbooks and up-dated member information
    • Quality tests
    • Settlement solutions
      • ESSP – USSP - MCSSP
eurogiro provides interoperability
Eurogiro Provides Interoperability

One system connectivity

Flexibility and Control

Relevant payment products for your market

Members

Alliances

Low value payments / Remittance Products

Geographical Reach

Connectivity

incoming remittances in africa and middle east
Incoming remittances in Africa and Middle East

US$ billions

Source: Worldbank Migration and Remittances Factbook 2011

something to consider
Something to consider
  • Information from Worldbank
    • Remittances in Africa are among the most expensive in the world. In some corridors the fee is close to 25% if you e.g. send 200 US$
    • A 5% decline in the fee would mean up to 16 bn US$ more to the recipients globally
    • There is a high percentage of remittances which are informal and not registered
    • The global market for remittances in 2010 is estimated to reach 440 bn US$
    • In some countries the value of remittances are more than 25% of GDP
first to last mile for remittances
“First to Last Mile” for Remittances

First Mile

IntermediaryMile

Last Mile

Remitter Access

Intermediary Operators

Beneficiary Access

The recipient of remittance collects funds

The migrant worker decides how much to remit and method of payment

Service providers for

payment messaging and financial settlement

between the Receiving and Sending institutions

Access:

Teller

Agent

ATM

E-banking

Mobile phone

Access:

Teller

Agent

ATM

Bank account

Card account

Mobile phone

first mile issues for remittance services
“First mile” issues for remittance services

First Mile

  • First Mile issues
    • Access for immigrants to remittances and banking in traditional financial institutions
    • Access to cash services
    • Informal market
    • No interoperability = no business case and no level playing field for banks in developed world

Remitter Access

The migrant worker decides how much to remit and method of payment

Access:

Teller

Agent

ATM

E-banking

Mobile phone

intermediary mile issues for remittance services
“Intermediary Mile” issues for remittance services

IntermediaryMile

  • Intermediary Mile Issues
    • Common brand, product standard, interoperability
    • Lack of simple infrastructures (systems, settlement, compliance)

Intermediary Operators

Service providers for

payment messaging and financial settlement

between the Receiving and Sending institutions

last mile issues for remittance services
“Last Mile” issues for remittance services

Last Mile

  • Last Mile issues
    • Access to financial services (accounts/cards)
    • Access in rural areas
    • Service, quality, funds, compliance, licensing
    • Access to cash services
    • Common brand, product and interoperability

Beneficiary Access

The recipient of remittance collects funds

Access:

Teller

Agent

ATM

Bank account

Card account

Mobile phone

first to last mile for remittances1
“First to Last Mile” for Remittances

First Mile

IntermediaryMile

Last Mile

Remitter Access

Intermediary Operators

Beneficiary Access

The recipient of remittance collects funds

The migrant worker decides how much to remit and method of payment

Service providers for

payment messaging and financial settlement

between the Receiving and Sending institutions

Access:

Teller

Agent

ATM

E-banking

Mobile phone

Access:

Teller

Agent

ATM

Bank account

Card account

Mobile phone

  • Financial Inclusion
    • Remittances as lead product to [re-] build access
the case for the postal organisations
The case for the Postal organisations
  • More than 600,000 outlets worldwide
  • Access in rural areas
  • Serving the ordinary customer and open for immigrants
  • Handling basic remittance instruments such as cash
  • Providing tools for financial inclusion (accounts, savings, cards etc.)
  • Successful track record in many areas
  • Global organisations (WSBI, UPU, Eurogiro etc)
  • Basic products, services and connectivity exist
post offices can gradually serve the needs of financial inclusion

Functionality

Value Added Postal Services

Virtual Mobile Operator (VMO)

Mortgages/SME Loans/Insurance

Investment Funds

Debit/Credit Cards (possibly micro loans)

International Remittances

Current Accounts/Payroll Services/Internet Access

Savings Accounts

Current situation/Cash Transactions at Post Counter

Time / Product Life Cycle

Post Offices can gradually serve the needs of financial inclusion

Key features

Institutional:

Partnership with the private and financial sector

Distribution

Multichannel, with direct marketing

Products

Full range of standard products

Customers:

For all; focus on domestic consumers, SMEs and utilities / employers

collaboration is key
Collaboration is key
  • Working together in a community
    • Postal organisations, commercial banks and other financial institutions working together have the opportunity to serve the market bringing value to themselves and their customers
    • Work together in delivering reliable, high quality transactions during a common network
    • Influence through the community
    • Common platform for enabling new technology and taking advantage of existing
    • Enabling financial inclusion to the people of Africa
    • Selling own products and services is a good supplement to being an agent
conclusion
Conclusion
  • One solution does not necessarily fit all
  • The postal organisations around the world has a unique opportunity to play a major role in delivering efficient and reliable global payments
  • Through collaboration with other financial institutions in a community  Service offering to customers will be even stronger
  • Efficiency, reliability, quality and influence leads to better services and higher revenue
questions
… Questions ?

?

Henrik Rasmussen

Senior Relationship Manager

Eurogiro A/S

Telegade 1

2630 Taastrup, Denmark

Tel: +45 4331 1252

Fax: +45 4371 2662

Email: henrik.rasmussen@eurogiro.com

Web: www.eurogiro.com