Eurogiro News

Eurogiro News1Eurogiro NewsTHE INTERNATIONAL ELECTRONIC PAYMENT CO-OPERATIONContents l June 2009SMS notification of sender and receiverNew Eurogiro service offering enhances the Eurogiro Cash International (ECI) product1Mobile phones are among the most expandingEurogiro Cash International (ECI) payment2technologies in this world; soon almostand to the sender of a successful pay-outevery individual on earth will have access toof the ECI payment instruction. An SMSsome kind of mobile device. In 2008 74%alert will be sent to the beneficiary when theof all electronic messages were via mobilefunds are available and ready for collection.phones.Similarly, an SMS will be sent to the sendingcustomer when the beneficiary has collectedIt is therefore the right time to integrate mobilethe funds.34technology into our applications and we areconvinced that there is a need to connect theHardly any investment requireddifferent IT technologies more closely. A veryVer y little investment is needed by thepractical use of this request in the paymentsending organisation to make use of thisindustry is the SMS notification.service. All the required data (mobilenumbers and eventual SMS text) is5SMS notification of sender andreceiverNew services offered by theBrazilian Post - ECTThe 200 year anniversary ofDarwinWhy participate in building theMultiLateral Framework?Productive General CustomerMeeting in picturesqueDubrovnikEurogiro has developed a service for SMSforwarded in the payment instruction, no new9notification to the beneficiary of a pendingmessage types are needed. The handlingNew Business Lineimplemented by Korea Post10Envoy Services Limited in UKEurogiro introducesConnectivity Certificate11Building Up the Brandand Inspiring Customersthrough the Power of Yes!of the SMS service is managed at the centralEurogiro servers.Service offerings at a glance:The text to be sent to the mobile is fullyconfigurable. The sending organisation can- SMS notification of beneficiaryeither specify the text directly in the payment- SMS notification of senderinstruction or make use of a centrally stored- Free format text provided in paymenttext provided by the receiving organisation ininstruction by sending organisation- Bene notification: Stored fixed text withvariables for amount, date, pick-up pointand reference defined by receivingorganisation- Sender notification: Stored fixed text withits local language.The text can contain variables (keywords) toinsert information such as amount, pick-uppoint, date of availability of funds and thepayment reference.Eurogiro SMS for other purposesEurogiro also offers a service where thesending organisationsending organisation can broadcast the(Latin characters)same text to a number of receivers. Thisservice is not linked to the ECI (or any- SMS services such as broadcast to anumber of receivers for multiple purposes,for instance exception handling.12variables for date and reference defined by- Stored fixed text in language of receiver»Page 3Public Statement ofInfrastructures promoting theSEPA Progress

Eurogiro News2New services offered by the Brazilian Post - ECTECI promoted by the Brazilian Post along with credit transfersMs Flávia Lúcia Xavier Almeida, Projectterritory. Post offices located in every BrazilianManager and Responsible for Eurogiro mattersmunicipality act as financial services providerswithin ECTby delivering the Brazilian internationalsend money to their families), makes incometransfers to remote locations, contributes toreducing poverty, provides regional economicimprovement and promotes a shift fromthe use of illegal transfers to legal ones,helping authorities prevent money launderingactivities.In 2002, ECT joined Eurogiro Network. Sincethen, it has been working to provide high-qualitystandards regarding international financialtransfers performed at affordable prices to itscustomers in Brazil and all over the world.Nowadays, the Brazilian Post offers threeThe Brazilian Post - ECT, as a Postal Institution,different types of financial transfer: the Regularhas historically provided a core social andMoney Order, Eurogiro Cash International economic infrastructure and has been the(ECI) and Credit transfers (Cash to account andtrusted provider of secure communication,Account to account – in both cases to accountspayment and delivery services betweenwith any bank in Brazil), the inbound processidentified senders and receivers.for which has already been implemented (theoutbound process will be implemented untilBeing a state-owned company, ECT abides byremittances service – the so-called DINHEIROCERTO – which is totally connected to ELS,thus making it possible to offer a fully automatedprocess to customers, including compliancewith all security criteria regarding Anti-MoneyLaundering (AML procedures). In this regard,an electronic data connection is establishedto the responsible Brazilian Authorities (theBrazilian Central Bank – BACEN and theBrazilian Council for Financial Activities Control– COAF) and customer data (such as sender’sand payee’s name) are checked against entriesin blacklists established by the United NationsSecurity Council.With the intention of offering all our customershigh-quality services at a cost-effective priceand aiming at improving our network, we inviteall Eurogiro countries to become our partners.flaviaalmeida@correios.com.brAugust 2009).the Brazilian Government strategy. As such,it provides access to international financialECT operates a post office network of overremittances at low costs (enabling migrants to6,000 outlets covering the entire nationalEurogiro is a commercial company that promotes bilateral and multilateral business opportunities among its customers. Customers of Eurogiro areactive in retail financial services and wholesale banking worldwide. Although its roots are in Western Europe, Eurogiro now spans five continents.Eurogiro offers an electronic payment system that is the only cross-border payment system which covers both postal and banking products.The Eurogiro head office is in Copenhagen; Eurogiro also has a representative office in Singapore.Albania: Posta Shqiptare sh.a · Australia: ANZ Banking Group · Austria: BAWAG P.S.K. · Belgium: La Poste SA · Bosnia & Herzegovina: NovaBanka · Brazil: Empresa Brasileira de Correios e Telérafos · Bulgaria: Finance Engineering JSC and Bulgarian Posts · Canada: National Bank ofCanada · Cape Verde: Correios De Capo Verde · China: China Post · Croatia: Croatian Post · Czech Republic: CSOB a.s. · Denmark: SydbankA/S · Egypt: Commercial International Bank (Egypt) S.A.E. · France: La Banque Postale · Germany: Deutsche Postbank · Greece: Hellenic Post andEFG Eurobank Ergasias · Hungary: Magyar Posta · Ireland: An Post · Israel: Israel Postal Company Ltd · Italy: Poste Italiane and Banca Popolaredi Sondrio · Japan: Japan Post Bank Co. Ltd. · Latvia: Latvia Post · Luxembourg: EPT Luxembourg · Madagascar: Paositra Malagasy · Mongolia:XacBank · Morocco: Banque Centrale Populaire and La Poste - Barid Al Maghrib · New Zealand: ANZ National Bank · Philippines: Philippine PostalCorporation · Poland: Polish Post · Portugal: CTT Correios de Portugal · Romania: Posta Romana and Banc Post · Senegal: Postefinances · Serbia:Postal Savings Bank · Slovakia: Postova Banka · Slovenia: Postna Banka Slovenije · South Korea: Korea Post · Spain: BBVA and Correos· Switzerland: PostFinance - Swiss Post · Thailand: Thailand Post and Bangkok Bank Public Co. Ltd. · Togo: Societe des Postes du Togo · Tunisia:La Poste · Turkey: PTT General Directorate of Posts · United Kingdom: Alliance & Leicester Commercial Bank, Citibank N.A., Envoy Services Limitedand Visa Europe · USA: Deutsche Bank and Standard Chartered Bank

Eurogiro News3The 200 year anniversary of DarwinEncompassing changeThe 2009 General Customer Meeting inThose institutions who are able to change andDubrovnik in May was a success thanks to theare able to react to the new circumstances,more than 100 participants and, of course, toor better, who will accept that there is athe tremendous hosting by Croatia Post. I wouldnew environment, will be the survivors in thelike to thank their team again. In this newsletterforthcoming decades.you will get an impression of the total program,which hopefully inspires you to attend next year,T h e r e p o r t “ We a t h e r i n g t h e S t o r m ” o fwhen the meeting will be held in Rome.March 2009 by the Boston ConsultancyGroup indicates that the key to success inIn addition to all the subjects that are directlyretail payments will be a lean, end to endrelated to the cross border payment business,business model aimed at, and achieving, thethe worldwide economic crisis was an oftenhighest possible level of efficiency. Eurogirodebated subject. I would like to quote Donaldunderstands the new environment andTerry, recently retired senior advisor of thehas made the change. We have simplifiedWorld Bank, and an inspirational speaker in thethe organizational structure of Eurogiro, to beconference. Referring to the financial crisis heable to focus more on our core activity “Crossasked me if I really understood the differenceBorder Payment Services”, to guarantee thatbetween a million and a billion and he said: “Ifwe offer our customers the highest level ofone dollar is one second, then a million dollarsservice.is 12 days and a billion dollars represents 33years”. I had to admit that this comparisonDespite the expected decrease of cross borderemphasised to me how big the challenge is forpayments in 2009, this Boston Consultancythe recovery of the financial world.report states that the market of cross borderTjeerd Rienstra, CEO Eurogiropayments will grow until 2016 by, on average,This stimulates Eurogiro in our services toI told the conference audience that in this year9% per year. This means that in 7 years theyou and I hope it also stimulates you in yourof Charles Darwin we have to understand thatnumber of transactions will be doubled, whichwork, realizing that part of the recovery in thenot the strongest, but those who are able tois also the level of increase expected for thefinancial industry will come from Internationalmake the change will survive.value of the retail payments.Payments.article continued from frontpageother Eurogiro product) but can be usedEurogiro has now taken the first step inby any Eurogiro customer. It may be usefulintegrating mobile technology in the financialfor exception and investigation handling. It ispayment flow.based on the SWIFT MT199 – a free formatmessage – where the phone numbers and therequired text must be specified.With this service we provide our memberswith yet another tool to improve customersatisfaction. The SMS messaging servicesenrich the customer experience thatEurogiro payment handlers can offer, forExample of an SMS notificationinstance, to the ECI customers, and mayto a beneficiary. Note the namereduce administrative costs for situations suchof the sending organisation, theas exception handling or reporting.amount, the pick-up point, dateand payment referenceThe operation may be streamlined by buildingon existing, automated ECI messagingstandards.