Jean Marie Dragon, director of promoting – means of payments at France’s la banque postale, spoke on the Mail & Express Review about challenges within the postal sector, the bank’s remittance business and just how it can be addressing pressure from new payments legislation.
La Banque Postale and La Poste
Technological innovation is at the forefront of La Banque Postale’s financial strategy. Developing its financial arm by giving new multi-channel services through mobile phones along with the internet is in the middle with this French leviathan’s pursuit to remain on the top.
As being the international postal sector comes under pressure from increased liberalisation, falling letter volumes along with a shift towards other means of communication, France’s La Poste is wanting to strengthen alternative revenue streams in their financial arm. The banking business makes up about regarding a quarter of the overall post office business, and thus is really a tool inside the overall postal strategy.
Jean Marie Dragon, Director of Marketing – Methods of Payments at La Banque Postale, told the Review how the challenges being faced with the postal industry have an effect about the financial arm. “There is far more pressure to help make better results (at La Banque) to compensate for that evolution in activities throughout the post office. The financial arm is a crucial revenue stream.”
The role of remittances
One aspect of alternative revenues the main thing on technological know-how is incorporated in the area of remittances, or money transfers. While remittances form just a small portion of the business it is actually a crucial part said Dragon, representing about 2-3% of turnover. “Remittances are an importance area for us. Remittance activity constitutes 01devjpky million transactions annually – nevertheless it concerns everyone and not only clients of citizen bank. Everybody can use money transfer services inside the post office – they do not possess to have an account inside the bank” he emphasised.
The bank offers both ‘cash-to-cash’ and ‘account-to-cash’ offerings. There are actually three quantities of products for money transfer on the bank. Through its cooperation with Western Union the bank offers Western Union® Money Transfer services to the customers. The bank even offers international ‘express’ and ‘ordinary’ money order services. These three amounts of services offer customers a selection of transfer speeds, from Western Union’s same day company to the standard money order’s D 4 (Day 4) service, and at an array of prices.