2 2 Highlights on BancoPosta Strong market position � >370 bln€ Total Customer Assets ( >10% market share) � ~14.000 Post Offices ( ~ 30% market share, >2x vs banking leader) � >23 mln. Customers (>2x vs banking leader) of which more than 10 mln cards holders: � 4,6 mln PostePay (50% market share prepaid cards) � 6,1 mln Postamat (16% market share debit cards) � Low cost approach keeps BancoPosta immune from price competition Main Weaknesses � 70% of > 23 mln. Customers are “monoproduct” or near � BancoPosta is not “the” relationship bank for ~50% of its 6,5 mln. Customers with current account � Marginal penetration in key Retail Products (Mutual Funds, Consumer Lending, Credit Cards) 31/03/2010
3 3 BancoPosta regulatory framework Release of BancoPosta Government regulatory BancoPosta turns into a framework Set-up of Business Unit , (DPR n. 144/2001) BancoPosta with full ownership of Division control system 1998 2000 2004 1999 2001 2007 Poste Italiane turned Release of from Government body BoI rules into a joint stock for BancoPosta company owned by: Launch of activities • 65% Government “Conto BancoPosta” • 35% CDP � BancoPosta is not a legal entity, but a Business Unit � BancoPosta has no balance sheet and no capital allocated � BancoPosta can take no credit risk and limited market and operational risks 31/03/2010
4 4 Group structure and revenue split by BU Poste Italiane 9,1 bln€ 9,1 bln€ 0,2bln€ 4,1 bln€ 4,8 bln€ 0,2bln€ 4,1 bln€ 4,8 bln€ BU BU Mail Territorial BU Express and Network BancoPosta and Parcels Philately ~14.000 P.O. ~14.000 P.O. BancoPosta Fondi SGR One, single, generalist distribution PosteVita infrastructure, supporting all Poste Poste Italiane Business Tributi Units BancoPosta’s revenues represent > 50% of Poste Italiane total revenues BancoPosta’s revenues represent > 50% of Poste Italiane total revenues As of YE 08 31/03/2010
5 5 BancoPosta’s revenue breakdown Total Revenues FY08: 4,8 bln€ Pension Payments Others 0,6% 3,9% Lending 1,5% Money Transfer 1,7% 28,9% Courrent Account Deposits 10,4% Investment Products 8,7% Current Account 15,7% Payment Services Bill Payments 28,5% Postal Savings As of YE 08 31/03/2010
6 6 BancoPosta’s product positioning Asset Gathering Payments � Bill Payments • Interest-Bearing Postal Postal Certificates � Pension Payments Products • Postal Saving Books � Postal Money Transfer � Current Account � Current Account Deposits Payment Services � Structured Bonds “Banking” � Debit/Credit Cards � Mutual Funds Products � Prepaid Cards � Bank insurance � International Money Transfer “Banking” Products account for > 50% of total revenues, “Banking” Products account for > 50% of total revenues, as a result of the ongoing innovation and up-selling strategy as a result of the ongoing innovation and up-selling strategy 31/03/2010
7 7 BancoPosta’s revenue split by Product By Postal vs Banking financial products By Product category (mln€) (mln€) CAGR CAGR CAGR CAGR +4,5% +4,5% +4,5% +4,5% 4.781 4.781 4.709 4.709 4.594 4.594 1% 4.195 1% 4.195 1% 1% CAGR CAGR +7,5% CAGR 53% +7,5% CAGR 54% 53% +5,6% +5,6% 48% 68% 67% 66% 66% CAGR CAGR +1,4% +1,4% 47% CAGR 47% 46% 52% CAGR 32% 31% 33% +2,5% +2,5% 33% Y05 Y06 Y07 Y08 Y05 Y06 Y07 Y08 Payments Postal products Asset gathering Banking products Other 31/03/2010
8 8 Key Success Factors: 1. Distribution Channels Post Offices Post Offices (~14.000) (~14.000) Staff Product Distribution � Consumer Specialists � Transactional Product 5.400 all Contact Center Contact Center � Bonds all � SME Specialists 1.000 (1.200 HR) (1.200 HR) � Banca insurance � Cashiers 11.500 38.600 � Personal Loans 9.400 � Mutual Funds 6.300 Internet Banking Internet Banking � Mortgages 3.400 (> 900.000 users) (> 900.000 users) Poste Mobile Poste Mobile (~1.200.000 SIM) (~1.200.000 SIM) 31/03/2010
9 9 Key Success Factors: 2. Customer Base Consumer: 23,2 mln. Retail Individuals Business & P.A.: 256.000 Companies Corporate Affluent SME & SOHO Associations Mass Market Public Administration As of FY08 31/03/2010
10 10 Key Success Factors: 2. Customer Base Penetration Rates of “Fully Banked Customers” (with Current Account) Debit Cards 84,6% (Postamat) Postal Saving Books 47,2% Salary/Pension 35,7% payment Insurance 14,0% Prepaid Cards 12,8% (PostePay) Structured Bonds 9,0% Home Banking 9,2% Personal Loans 4,7% Mutual Funds 3,3% Asset under Custody 2,7% (Treasury Bonds, Equities) Postal products Credit Cards 2,7% Banking products Revolving Cards 1,1% As of FY07 Mortgages 0,4% 31/03/2010
11 11 “Focus on the BancoPosta success in launching a diversified portfolio of prepaid cards” 31/03/2010
Postepay: key figures 12 12 5.500.000 4.200.000 3.600.000 2.400.000 1.700.000 800.000 160.000 2003 2004 2005 2006 2007 2008 2009 PostePay today is the leading prepaid product in Italy and in Europe: Italian market share: 65% European market share : 40% 31/03/2010
13 13 The Postepay top up channels Mobile Post Internet ATM phone offices � Cash Debit card or � � � � Bank account Credit cards � � � � � Postepay 31/03/2010
The key functionalities and the multi-channel approach 14 14 ATM (other banks) ) Cash withdrawals (VISA Electron) ATM (domestic) MOBILE • cash withdrawals • m-commerce • SIM & card top up • money-transfer through • card account pre-paid top up information • SIM top up • Card account informations POS (Post Office) MERCHANTS INTERNET • cash withdrawals • payments (charging services) Paying goods and • card account information services (VISA Electron – • e-commerce (VISA) MasterCard) • bill payments on internet • card account information 31/03/2010
15 15 The Launch – November 2003 Target Positioning Target Positioning � � Young people Easy � � Travellers Convenient � � Net surfers Unique Strategy Strategy � Offer an easy product to all the customers going daily to the Post offices and to everyone that hasn’t a credit card or a bank account Results Results � 1ml card in 13 months � 2,4ml cards in 3 years � High cross selling rate 31/03/2010
16 16 The key success drivers � Flexible D � Product Features Easy � Accepted � ATL � BTL C Communication � Direct Key Drivers Key Drivers Marketing � 14k Branches � 5000 ATM B Top up Network � Web Site � Retailers � 14.000 A Distribution Network Branches Success Success 31/03/2010
Cardholder demographics 17 17 5.5 Postepay is still a C c a u r d s t o h o m young product but not only l e d r e s r s million cards for young people in 6 years are under 48% the age of 30% are 30 65% between Customers under the Italian mkt the ages of share age of 30 account for 31 and 50 Male 63% / 37% Female over 55% off all transactions 31/03/2010
Cardholder demographics 18 18 30% of all C c a u r 10% of customers are non-Italian d s t o h o m l e d r e s r s transactions are abroad transactions 46% are on The market itself found new way to use 54% that take place the card abroad a physical POS on the web from travel card to money transfer 52% of prepaid Postepay is steal perceived as the secure way to card customers have another buy online Poste Italiane product 31/03/2010
19 19 Diversification – Co-branding Prepaid Corporate platform Prepaid Corporate platform An online platform to enable all the companies that need a An online platform to enable all the companies that need a co- -branded prepaid card to for their customers to: branded prepaid card to for their customers to: co � Personalize the card design � Personalize the card design � Request the card � Request the card “ “on on- -demand demand” ” � Reload the cards � Reload the cards 31/03/2010
20 20 Diversification – Product Innovation The “ ” represent a new channel for the represent a new channel for the Postepay Postepay The “mobile mobile” 35% of mobile 1,3 MILION subscribers Sim Card have their sim linked to a PostePay Value Added Services • Card Enquiry (all mobile operators) • Telegram • Reload other postepay • Bill Payments • Reload sim Postemobile • urgent money transfer 31/03/2010
21 21 Diversification – Product Innovation In 2007 we launched the first a Contactless pilot on prepaid in Italy Launched to test the customer appeal on the contactless technology 60.000 active card today on the market The result : innovative customers appreciate using userfriendly payment sistems Future evolution mobile NFC payments 31/03/2010
22 22 Diversification – The Money Transfer Postepay TWIN TWIN Postepay � Postepay Twin is specifically targeted on the remittances market � Easy, two prepaid cards to send and receive money and in all the world � Cheep, no other Money Transfer product is so convenient � Fast, buy the card in one of the 14.000 branches and send money in real time 31/03/2010
23 23 Diversification – The New Markets Access Transit Lunch Lunch 31/03/2010
Recommend
More recommend
