Page 2 - Eurogiro News Sep 2012_web version

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2 Eurogiro News
approach to workers’ remittances were the
communication activities aimed at customers
(flyers, notices, etc.), post offices (handbooks,
instructions, etc), pricing policies per corridor
and products, the increased product range, the
simplification of the service application at post
office counters, the Direct Mail initiatives, and
finally the simplicity and transparency of the
information provided to customers.
A quite unique joint approach to corridor
marketing towards a migrant community was
used by Poste Italiane and Postefinances,
Senegal, in Italy recently. Do you have any
lessons to share from this initiative?
The members can leverage the community
to increase the mutual business and improve
customer services. On the basis of such
conviction we identified an interesting initiative
with Senegal. We achieved two goals
To provide an immediate, on line applica-
tion to open current accounts with
Senegal Post;
To communicate opportunities for trans-
ferring funds from Italian Post to accounts
in Senegal through the Eurogiro service
Finally, how would you like to influence
the future of Eurogiro?
Eurogiro works in a growing market and the
analysts believe that remittances will grow
due to continued globalisation and migration.
We must consider that this market is continu-
ally changing due to the evolution of the
instruments to transfer funds (card, mobile)
and we must note that there is potential to
expand the network.
To face up to its competitors and respond in
a determined way to market needs, Eurogiro
must adopt winning strategic and commercial
initiatives. The current business plan has
the required elements to achieve this and
will ensure that Eurogiro even further
exploits its strong points, not least its interac-
tive framework to develop new business
Millennium bcp is a retail-oriented universal
bank serving over 2.4 million clients (5.4
million worldwide), with a 20% average
market share in retail banking, commercial
banking, corporate & investment banking
and private banking & asset management.
Millennium bcp's headquarters are in
Lisbon, and the bank develops its business
in multiple geographies. Millennium bcp
aims to reinforce its leadership in Portugal
and to reach a significant position in the
18 markets where Millennium bcp is
Millennium bcp’s success is based on
strategic key factors including quality and
commitment, a dedicated commercial team,
excellent customer service, low-cost dis-
tribution channels and simplified processes.
With over 5 million Portuguese people
living abroad, Millennium bcp, by join-
ing Eurogiro, aims to be even closer to
its emigrant clients and to strengthen its
position in the market. In 2011, the value of
workers’ remittances for Portugal was €2.4
billion, coming from countries like France,
Germany, Switzerland, Belgium, Spain, UK,
USA, Canada, Brazil and Australia.
Millennium bcp sees the opportunity to
join Eurogiro as a way of cooperating with
all the Portuguese emigrants who want to
transfer funds to Portugal. With more than
20 years of experience in workers’ remit-
tances and a market share of 36% in the
pensions and remittances business,
Millennium bcp wants to be part of the
Eurogiro community. The goal is to offer
a strong alternative solution that will be
strategic not only to increasing transaction
volumes, revenues, profitability and cross
Eurogiro is pleased to welcome the Portugeuse bank, Millennium
bcp, into the Eurogiro community
On 4th June, the leading Portuguese private bank joined the Eurogiro payments network
Poste Italiane Highlights
6.3 million Postamat cards & 8.8
million Postepay prepaid cards
5.6 million post office current
accounts & € 300 billion worth of
14,000 post offices - 150,000
In 2012, 4
among top postal
operators in the World's Most
Admired Companies list
Poste Italiane has been a Eurogiro
member and shareholder since
selling, but also to leverage the business in
this very important segment and to expand
its activity to new markets, reaching new
At this phase, Millennium bcp will be on the
receiving side for euro remittances (cash-
to-account and account-to-account), as well
as for euro pensions. Millennium bcp has
full capacity to act as an intermediary bank,
particularly in the Portuguese market.
The connection to the Eurogiro network will
be done through SWIFT Eurogiro Closed
User Group (SECUG) under the MultiLateral
Framework (MLF) and the bank expects to
go live within 3 months.
Read the full interview on