can financial services in developed countries remain on a long-term basis within postal...
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Can financial services in developed countries remain on a long-term basis within postal organizations or is separation inevitable?
TIP Conference, 16.9.2011, Lausanne
Thierry KneisslerMember of the Executive Board and Head of Corporate Development, PostFinance
2
payment system
post offices
savings accounts
trust
Historic rationale for financial services in postal organisations
3selection based on data Worldbank of 2007, with own additions and eliminations; access to financial services (= account) > 2/3 of population
Australia AU Luxembourg LU
Austria AT Malta MT
Belgium BE Netherlands NL
Canada CA New Zealand NZ
Cyprus CY Norway NO
Czech Republic
CZ Poland PL
Denmark DK Portugal PT
Estonia EE Russian Federation
RU
Finland FI Singapore SG
France FR Slovakia SK
Germany DE Slovenia SI
Greece GR Spain ES
Hungary HU Sweden SE
Ireland IE Switzerland CH
Italy IT United Kingdom
UK
Japan JP United States US
Lithuania LT
Analysis of 33 countries with high financial inclusion
4
1990
2000
2010
NLCZ
SI
SK
PL
ES
AT
SE
NO
HU
IE
DEBE
GRUK
partial privatisation
privatisation
DK
FI
1980
Development since 1980
>50%
broad financial services(payment & savings by themselves, further offerings with banks)
narrow financial services(basic payment services)
cooperation with bank(branding, products, distribution, equity)
bank uses post offices(distribution, s.t. equity)
5
4 models
broad financial services
narrow financial services
cooperation with bank
bank uses post offices
6
SI
UK PL
ES CZNOGRDE
CHNZJPIT
FISEPTMTLULTEECY CA
SG
IE
NL
US
SK
RU
DKHU
BE
AT
FR
AU
4 models
7
Strong position
PrivatisationWeak position,
start up
not existingreduction of
infrastructure
strongcooperationbank/post
Common dynamics for financial services in postal organisations?
8
Strong position
PrivatisationWeak position,
start up
politicsriskmoneyknow how
post officesrevenues
not existingreduction of
infrastructurecooperationbank/post
politicscosts
historypoliticsstrategyeconomics
traditionpost offices
Relevant forces for movements
9
Strong position
PrivatisationWeak position,
start up
not existingreduction of
infrastructurecooperationbank/post
ES ES
2nd round
Examples: Spain
10
Strong position
PrivatisationWeak position,
start up
not existingreduction of
infrastructurecooperationbank/post
NZ
NZ
2nd round
Examples: New Zealand
11
Strong position
PrivatisationWeak position,
start up
not existingreduction of
infrastructurecooperationbank/post
UK
UK
2nd round
Examples: United Kingdom
12
Strong position
PrivatisationWeak position,
start up
not existingreduction of
infrastructurecooperationbank/post
2nd round
JP
NZ
NZ
DK
UK
UK
GR BE
HU
ES
SK
SI
DESE
ES HU
SW
AU
IT
FR
EECY
PT
PT
LT
CH
NLIE
CZ
AT
PLNO
FIUSSG CA
LUMT RU
Positions today
13
trust trust (brand)
post offices post offices
payment systemsavings accounts
moneypolitics
Historic vs today‘s rationale
14
business rationale?
last 30 years?
politics?
money?
Financial services within postal organisations – or not?