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2020 Foresight Report: Post Office Financial Services

Published By :

Timetric

Published Date : Apr 2013

Category :

Banking

No. of Pages : 114 Pages


Synopsis

This report provides detailed insights into the following topics:

  • The postal system
  • Competition and privatization in postal services
  • Opportunities in postal financial services
  • The current state of postal financial services in various countries
  • Key product and market development strategies adopted by postal operators across countries
Summary

Globally, postal services play a key role in providing access to basic communication and transaction services. The worldwide postal infrastructure has been shrinking for over two decades, in terms of both outlets and numbers of full-time staff. At the end of 2011, the total number of post offices stood at 662,701, of which 439,376 were staffed by officials of the designated operator and 223,325 were managed by people from outside the designated operator. The traditional letter post service is under pressure from new technology, including the internet and (increasingly mobile) telephone services. Rising numbers of consumers and businesses are sending and receiving bills and invoices via the internet and making payments online or by telephone, instead of using post office service. Capitalizing on its large network, easy accessibility and trust among customers, postal operators across the globe are targeting unbanked and rural populations, SMEs, self-employed professionals, young consumers and senior citizens with financial products such as savings accounts, insurance, pension payment services, remittances services, loans and wealth management products. The financial services sector represents a significant opportunity for much-needed additional revenue for postal operators, either directly or through alliances with financial institutions. Many postal operators are also being urged to offer basic financial services such as payments, savings and microfinance to combat social and financial exclusion, particularly in poorer countries, or to better serve more remote geographical areas and isolated social groups. There is a significant potential for partnerships between postal operators and financial institutions, even in markets where postal operators and postal banks already offer a range of financial services. Alliances such as these could produce major financial rewards and deliver social dividends. For instance major banks in the UK such as Bank of Ireland, Barclays, Halifax, HSBC and Lloyds have formed partnerships with the UK Post Office to offer financial services.

Scope

This report provides a comprehensive analysis of postal financial services provided by postal operators across the globe

  • It provides detail on the current and future prospects of the postal financial services industry 
  • It details the different infrastructural, consumer and business drivers affecting the postal financial services industry in various countries across the world
  • It outlines how market liberalization is impacting the postal operator business 
  • It details the marketing strategies used by various postal operators across the globe
  • It profiles the major postal operators across the globe
Reasons To Buy

  • Make a post office financial partnership work for you 
  • Utilize the ubiquity of post offices 
  • Learn best practice and read case studies 
  • Find out how to appeal to the unbanked
  • Gain insight into the key product and market development strategies adopted by postal operators across different countries
Key Highlights

  • The post office is one of the largest, most widespread and trusted retail networks, with around 670,000 outlets worldwide.
  • The traditional letter post service is under pressure from new technology, including the internet and (increasingly mobile) telephone services.
  • With the decline in traditional mail volumes and postal operators scaling down their branch networks and workforces, market liberalization is gathering pace. Many governments favor increased competition in the postal sector, signaling the end of many postal monopolies.
  • Postal operators worldwide are targeting unbanked and rural populations, SMEs, self-employed professionals, young consumers and senior citizens with financial products such as savings accounts, insurance, pension payment services, remittances services, credit loans and wealth management products.
  • Postal banks are looking to diversify their product and customer portfolios, and are offering wealth management services as well as traditional financial services such as savings accounts, insurance and deposits to strengthen their positions in urban markets and attract wealthy customers.
Table of Content

1 Executive Summary

2 Overview of Global Postal Financial Services
2.1 Snapshot of Financial Offerings by Postal Operators in Key Countries
2.1.1 Post office saving schemes
2.1.2 Money remittance services
2.1.3 Insurance
2.1.4 Mutual funds
2.1.5 Investment and consumer credit
2.2 Market Liberalization and Organization
2.2.1 Competition and privatization in postal services
2.2.2 Organizational and legal structure
2.2.3 Business models adopted by post offices for financial inclusion
2.3 Best Practice Case Studies
2.3.1 Liberalization of the German postal network
2.3.2 Symbiosis between post and bank: correspondent banking in Brazil
2.3.3 Japan Post the difficulties of reform

3 Opportunities in Global Postal Financial Services
3.1 Opportunities by Product Portfolio
3.2 Opportunities through Strategic Alliance or Partnership
3.3 Opportunities in the Unbanked Sector
3.4 Opportunities in Other Channels

4 Market Dynamics and Emerging Opportunities in Developed Markets
4.1 Canada
4.1.1 The postal operator
4.1.2 Key statistics
4.1.3 Key financial services and customer segmentation
4.1.4 Key product and market development strategies
4.2 France
4.2.1 The postal operator
4.2.2 Key statistics
4.2.3 Key financial services and customer segmentation
4.2.4 Key product and market development strategies
4.3 Germany
4.3.1 The postal operator
4.3.2 Key statistics
4.3.3 Key financial services and customer segmentation
4.3.4 Key product and market development strategies
4.4 Italy
4.4.1 The postal operator
4.4.2 Key statistics
4.4.3 Key financial services and customer segmentation
4.4.4 Key product and market development strategies
4.5 Japan
4.5.1 The postal operator
4.5.2 Key statistics
4.5.3 Key financial services and customer segmentation
4.5.4 Key product and market development strategies
4.6 South Korea
4.6.1 The postal operator
4.6.2 Key statistics
4.6.3 Key financial services and customer segmentation
4.6.4 Key product and market development strategies
4.7 Switzerland
4.7.1 The postal operator
4.7.2 Key statistics
4.7.3 Key financial services and customer segmentation
4.7.4 Key product and market development strategies
4.8 The UK
4.8.1 The postal operator
4.8.2 Key statistics
4.8.3 Key financial services and customer segmentation
4.8.4 Key product and market development strategies

5 Market Dynamics and Emerging Opportunities in Emerging Markets
5.1 Australia
5.1.1 The postal operator
5.1.2 Key statistics
5.1.3 Key financial services and customer segmentation
5.1.4 Key product and market development strategies
5.2 Brazil
5.2.1 The postal operator
5.2.2 Key statistics
5.2.3 Key financial services and customer segmentation
5.2.4 Key product and market development strategies
5.3 China
5.3.1 The postal operator
5.3.2 Key statistics
5.3.3 Key financial services and customer segmentation
5.3.4 Key product and market development strategies
5.4 India
5.4.1 The postal operator
5.4.2 Key statistics
5.4.3 Key financial services and customer segmentation
5.4.4 Key product and market development strategies
5.5 South Africa
5.5.1 The postal operator
5.5.2 Key statistics
5.5.3 Key financial services and customer segmentation
5.5.4 Key product and market development strategies

6 Appendix

6.1 Methodology
6.2 Contact Timetric
6.3 About Timetric
6.4 Disclaimer

List of Table


Table 1: Number of Post Offices per Region in 2011
Table 2: Examples of Privatized Postal Banks
Table 3: Overview of Canadian Postal Statistics
Table 4: Overview of French Postal Statistics
Table 5: Overview of German Postal Statistics
Table 6: Overview of Italian Postal Statistics
Table 7: Overview of Japanese Postal Statistics
Table 8: Overview of Korean Postal Statistics
Table 9: Korea Post – Number of Partner Financial Institutions
Table 10: Korea Post – FRPF and Public Bonds (KRW Billion)
Table 11: Overview of Swiss Postal Statistics
Table 12: Overview of UK Postal Statistics
Table 13: Overview of Australian Postal Statistics
Table 14: Overview of Brazilian Postal Statistics
Table 15: Overview of Chinese Postal Statistics
Table 16: Overview of Indian Postal Statistics
Table 17: Overview of South African Postal Statistics

List of Chart


Figure 1: Post Offices Financial Services in Key Countries
Figure 2: Legal Status of Postal Operators
Figure 3: Business Models Adopted by Postal Operators
Figure 4: Market Structure and Liberalization of the German Postal Network
Figure 5: German Postal Market, 2010
Figure 6: Banco Postal Brazils Business Model
Figure 7: Privatization of Japan Post
Figure 8: Key Opportunities in the Postal Financial Sector
Figure 9: Key Product Portfolios of Postal Operators
Figure 10: Postal Partnership With Government To Provide Social and Welfare Payments
Figure 11: Key Target Customer Segments and Product Offerings of Canada Post
Figure 12: Key Product and Market Development Strategies of Canada Post
Figure 13: Key Customer Target Segments and Product Offerings of La Banque Poste
Figure 14: Key Product and Market Development Strategies of La Banque Poste
Figure 15: Key Products and Services Offered by La Postes Postal Bank
Figure 16: Key Customer Target Segments and Product Offerings of Postbank
Figure 17: Key Product and Market Development Strategies of Postbank
Figure 18: Key Customer Target Segments and Product Offerings of Post Italiane
Figure 19: Key Product and Market Development Strategies of Post Italiane
Figure 20: Key Customer Target Segments and Product Offerings of Japan Post
Figure 21: Key Product and Market Development Strategies of Japan Post
Figure 22: Key Customer Target Segments and Product Offerings of Korea Post
Figure 23: Key Product and Market Development Strategies of Korea Post
Figure 24: Key Target Customer Segments and Product Offerings of Swiss Post
Figure 25: Key Product and Market Development Strategies of Swiss Post
Figure 26: Key Customer Target Segments and Product Offerings of the Post Office
Figure 27: Key Product and Market Development Strategies of the Post Office
Figure 28: Key Customer Target Segments and Product Offerings of Australia Post
Figure 29: Postbillpay Payment Methods
Figure 30: Key Product and Market Development Strategies of Australia Post
Figure 31: Key Customer Target Segments and Product Offerings of Banco Postal
Figure 32: Key Product and Market Development Strategies of Banco Postal
Figure 33: Key Customer Target Segments and Product Offerings of China Post
Figure 34: Key Product and Market Development Strategies of China Post
Figure 35: Key Customer Target Segments and Product Offerings of India Post
Figure 36: Key Product and Market Development Strategies of India Post
Figure 37: Key Customer Target Segments and Product Offerings of South Africas Postbank
Figure 38: Key Product and Market Development Strategies of South Africas Postbank

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