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You represent an organisation that has
gone through many changes since its
beginnings as a postal savings bank in
1882, and also an organisation that sees
its cross-border payments business chang-
ing dramatically due to, for instance, the
emergence of SEPA. What are your main
challenges today and how do you see
the value of the Eurogiro membership for
BAWAG P.S.K. now?
Given the rapidly changing environment,
it is all too easy to lose sight of the real
business, which is offering services that
really fulfill the needs of our customers.
BAWAG P.S.K. is investing significantly in
the co-operation with Austrian Post. The
bank is rolling out 520 newly-refurbished
joint branches with full self-service capabili-
ties, where we offer our clients a conve-
nient combination of all banking services
and the full range of postal services, all
under one roof. This gives BAWAG P.S.K.
Austria’s largest, centrally co-ordinated
branch network with a very special feature
and a unique opportunity that no other Aus-
trian bank has: most of the people coming
BAWAG P.S.K.
>
Eurogiro founding member in 1989
(P.S.K.)
>
Merger of P.S.K. and BAWAG in
2005, majority owned by Cerberus
>
One of Austria’s largest retail
banks with more than 500
branches with new co-operation
with Austrian Post AG
>
More than 4,000 employees and
serving approximately 20% of the
Austrian population with banking
services
>
User of Euro Settlement Service
(ESSP)
into our branch, are not yet our customers,
but only Post customers.
This fits into the bank’s overall strategy to
offer full multi-channel capability – e-com-
merce capability including e-banking and
mobile banking, branch-based banking, self
service and direct banking via call centres.
We are well on the way to realising this
ambitious strategic intent.
Specifically, on payments, BAWAG P.S.K.
is among the leading banks in Austria in
payment services and is the sole processor
for all payments of the Republic of Austria.
For us, stability of the payments platform
and service is of utmost importance.
Eurogiro continues to, and will remain
strategic to the bank, given its roots and
unique services that it supports the bank
with, for example, cash-out payments.
Partnerships have been very important in
the history of Eurogiro, such as Western
Union and SWIFT. What about partnerships
in the future?
Western Union is a great example of an
important partnership for BAWAG P.S.K.
Eurogiro offers us here a platform to ensure
that BAWAG P.S.K. and our customers get
the best possible services at a competi-
tive price. Partnerships, to maximize the
value, are becoming even more important
given current market conditions, growing
regulatory requirements and pressures on
margins. The partnerships that are not just
about efficiently operating existing services
but more about jointly developing new
ideas, would become even more important.
And this kind of co-operation requires that
the partners have a similar background and
understanding of issues; a requirement
that Eurogiro, with its background, meets
very well.
Today, the strongest growth in the Eurogiro
business is within Asia and into Asia; how
do you see Eurogiro best positioning itself
to take a role in this development?
Although BAWAG P.S.K. business is
restricted to largely Europe, I clearly see
the strategic need to expand internationally
and in particular in Asia. The successes
of Eurogiro can be transported to Asia
although compliance issues and customer
proximity would be key challenges.
The payments industry is developing rapidly
with increasing competition from existing
and new types of providers. What could be
the role and opportunities for, in particular,
postal organisations in this market?
Yes, it is right that the payments industry
is changing and evolving rapidly; opening
up new channels (e.g., mobile phones),
smarter and cheaper ways to transfer
money (e.g., PayPal) or breaking the
traditional model (e.g., Square). Having
said that, postal organisations have a
unique feature - they are ubiquitous – they
are everywhere, an essential part of our
daily life. Even in the digital world, it’s the
post that delivers the online purchase.
Eurogiro with its unique position to provide
a link between the banks and postal organi-
sations, offers a unique advantage to its
members.
Finally, how would you like to influence the
Eurogiro of the future?
Eurogiro would need to stay on course
to expand internationally and broaden its
network; at the same time it would need to
strengthen its partnerships. Both these are
part of Eurogiro’s plans and I would like
to continue to support the development of
Eurogiro towards these two fundamental
pillars.
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