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The Eurogiro community meets in Greece –
friendly and productive as always
Outside: sunshine but governmental crisis – inside: dim lights but constructive talks. The
2012 Eurogiro Community meeting took place in a sunny resort on the coast outside Athens
on 8-10 May. It focused on how to use the community to increase mutual business and how to
improve the services for clients. Again, this year, there was ample time to forge new business
relationships and renew old friendships between delegates from all continents
The community meeting is the most important
event in the Eurogiro community and plays
a key role in bringing the community to life
and realising the potential of linking banks
and posts who are dedicated to handling fund
transfers for any citizen, anywhere.
The programme featured a broad mix of
speakers on topics such as market trends,
potential payment product partnerships,
member experiences, and best practices,
as well as workshops. As always at these
Eurogiro gatherings, the time reserved for
bilateral talks between current and potential
business partners was treasured and widely
used.
It is about moving funds
Olivier Denecker, McKinsey & Company,
captured the essence of the business and
stated that the business of moving funds had
been growing steadily, despite the financial
crisis, and that this trend would continue with
growing migration. At the same time, revenue
from payments was very significant for banks,
at an estimated level of around 25 % of total
revenue. The payment element was just one
piece in the value chain, and the ability to
meet the needs of clients in all phases on the
chain was becoming increasingly important.
Challengers to banks would often focus on
elements next to the payment element, taking
mobile providers and PayPal and Google as
examples.
Collaborative marketing pays off
The PR and Marketing Council in Eurogiro
had invited members from three continents to
share their experiences in marketing towards
migrant groups and consider how members
could take advantage of co-operating from
both ends of a funds transfer corridor. A joint
approach towards ethnic communities in
sending countries could help boost payments,
as well as initiate financial inclusion of often
unbanked migrant workers and their receiving
families. Success stories varied significantly
but a common element of this success was
identified as being able to have a presence
at social or religious events in the migrant
communities with staff that spoke the mi-
grant languages. An example of just such a
joint initiative is the collaboration between
the Italian and Senegalese Post towards
Senegalese communities in large cities in Italy:
by connecting to local spokesmen to address
the community, the posts had boosted both
remittances via Poste Italiane to Senegal as
well as account openings at Postefinances in
Senegal.
In Greece
Fortunately, the unfolding financial and
governmental crisis in Greece remained
a distant shadow during the meeting. The
delegates enjoyed a well-functioning venue
and the co-host, Hellenic Post, represented
by Soula Evans, Chief Commercial Officer,
Eurogiro News 5
presented an organisation undertaking great
modernisation projects. Hellenic Post is
preparing for a fully liberated postal market
from 1 January 2013 and has upgraded its
infrastructure, automated its procedures and
significantly enhanced both its products and its
staff performances. The next step is translating
a 52 Million EUR grant from the European
Union into efficient and competitive products,
for instance expanding the use of the new giro
account for pensions and social benefits and
introducing mobile payments. Hellenic Post
is taking an active part in the restructuring of
public services in Greece.
3
El Hadji Mansour Gueye, Postefinances
Senegal spoke about their corridor
marketing initiative with Poste Italiane