Home News

Login Form





Copyright © 2010 Eurogiro A/S
PDF Print E-mail

Latest News


Eurogiro members did well in EU bank stress test

PDF Print
Wednesday, 28 July 2010 13:49

Eurogiro members did well in EU bank stress test

The stress test by CEBS (Committee of European Banking Supervisors) concerned six Eurogiro members being  Sydbank (DK), Deutsche Postbank (DE), Deutsche Bank (DE), EFG Eurobank (GR), Santander (ES) and BBVA (ES). All passed the stress limit set by CEBS and maintained their Tier 1 capital ratio well above 6%.

CEBS informs that the test was mandated by ECOFIN and the European Central Bank to provide policy information for assessing the resilience of the EU banking system to possible adverse economic development and to assess the ability of banks in the exercise to absorb possible shocks of credit and market risks, including sovereign risks. 7 banks out of 91 tested would see their tier 1 capital fall below 6%.

Eurogiro congratulates on the good results.

For more information: http://www.c-ebs.org/EuWideStressTesting.aspx
 

Eurogiro annual User Group Meeting in Rome hosted by Poste Italiane

PDF Print
Monday, 03 May 2010 11:04
Eurogiro: The annual meeting on cross-border payment services for postal organisations and banks is set to open in Rome
The meeting will be hosted by Poste Italiane: the future lies in innovative services such as transfers from mobile phones and cards

Copenhagen/Rome, 3 May 2010 - Tomorrow sees the opening of Eurogiro's annual User Group Meeting, during which the 64 members of the Eurogiro network, present in 50 countries, will come together to share strategies for the development of the money transfer business throughout the world. Many payments made in Italy and transferred rapidly and reliably to a beneficiary in another country are likely to have been carried out automatically by Eurogiro, a partner of important postal organisations, banks and networks in the international movement of electronic payments.

"It is our firm intention to see to it that members associate Eurogiro with 'quality, easiness and user friendliness'", confirms Tjeerd Rienstra, CEO of the Copenhagen-based company. In Rienstra's view, this means guaranteeing that all cross-border payments can be processed simply, quickly and cost-effectively.
Eurogiro, founded in 1993 by twelve European postal organisations, is a Danish commercial company whose aim is to support and develop, among its members and associate partners, worldwide business relating to cross-border payments related to retail and wholesale financial services. Over the past twenty years, the company has evolved from a platform formed by postal organisations and banks into a trusted partner for cross-border payments at a global level, processing over 32 million transactions every year.

Poste Italiane holds an 8.64% share in Eurogiro, which allows it to play a guiding role in international money transfer strategies and projects, also by focusing on innovative services such as money transfer via mobile phones or payment cards. "Through Eurogiro", explains Alessandro Albano, in charge of Payment Systems at Poste Italiane "we are able to allow cash-to-cash or cash-to-account transfers in 2-4 days, depending on the corridors and the procedures used, and with commission rates below the cost target set by the recent G8 in L'Aquila. Eurogiro is therefore a very important partner in the field of remittance and payment transfer services".
 

Eurogiro welcomes Caixa Econômica Federal, Brazil

PDF Print
Tuesday, 02 March 2010 09:57
Caixa Econômica Federal, Brazil joins the Eurogiro community

Please welcome Caixa Econômica Federal as a member in the Eurogiro community, and an expansion of the Eurogiro payment gateway for account transfers into Brazil.

Caixa Econômica Federal will participate in the MultiLateral Framework setup and will connect to Eurogiro via the SWIFT Eurogiro Closed User Group on SWIFTNet (SECUG). The installation is scheduled to take place in March 2010. Testing will be conducted adjacent to the installation and subsequently the Eurogiro Connectivity Certificate will be issued.

A USSP agreement is being concluded with Deutsche Bank, i.e. all transactions denominated in USD with Caixa can be settled with Deutsche Bank.

Caixa  Econômica Federal is headquarted in Brasilia and 100% owned by the Brazilian Federal Union. Across its vast network of branches, the bank will provide its customers, at first, with account transfers for incoming international payments.

CAIXA is the main agent for the Federal government's public policies and is present in the life of millions of Brazilians in every Brazilian municipality. This is because this public institution serves not only its bank clients, but the whole Brazilian population through the banking correspondent networks (lottery, bakeries, markets, drugstores and other businesses), the urban infrastructure investments, the social benefits transfer, asset management and international operations. By acting in the sectors of housing, basic sanitation, infrastructure and services, CAIXA plays a core role in the promotion of urban development and social justice in the country, contributing to improve the population's quality of life, particularly the lower income ones.

The bank was established in January 1861, nearly 150 years ago and is today ranking number 5 among Brazilian banks.

For more information on connecting with Caixa Econômica Federal via the Eurogiro network, please contact Ms. Márcia Spinato Ribeiro at This e-mail address is being protected from spambots. You need JavaScript enabled to view it  
 

Eurogiro welcomes Ukraine Post

PDF Print
Monday, 08 February 2010 15:12

Eurogiro welcomes Ukranie Post.

 

Eurogiro is happy to announce that Ukraine Post has signed a MultiLateral Framework agreement and thereby becomes a new member of our community.

 

Ukraine Post will connect to Eurogiro through the ELS (Eurogiro Local System) and is scheduled to go live in April 2010.  To begin with, the Post will provide its customers with cash transfers for both incoming and outgoing payments.

 

With more than 15,000 post office outlets (including more than 10.000 in rural areas) Ukraine Post brings unique last mile reach for both the inbound and outbound  remittance market.

 

The Eurogiro General Contact is:

Ms. Larysa Stefanenko

Head International Affairs Department

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Telephone: [+380 44 278 5139]

Fax: [+380 44 278 7969]

On December 29, 2009 Ukrainian State Enterprise of Posts "Ukrposhta" was authorized by the National Bank of Ukraine for activities related to funds transfer. In accordance with requirements of the Law of Ukraine "On Payment Systems and Funds Transfers in Ukraine" and normative legal acts of the National Bank of Ukraine specialists of Ukrposhta made considerable work to agree with the National Bank the rules of "Postal Money Order" payment system. Over this time the internal normative documents related to transmission of postal money orders and the order of the payment system financial operations monitoring were worked out.
According to the current legislation after receiving of the authorization Ukrainian State Enterprise of Posts "Ukrposhta" becomes payment organization of the national non-banking payment system.
 

Deutsche Bank becomes shareholder of Eurogiro A/S

PDF Print
Thursday, 21 January 2010 12:01

I’m very pleased about the equity stake of Deutsche Bank. It confirms their commitment and confidence in Eurogiro’s remittances strategy to achieve global REACH “, says This e-mail address is being protected from spambots. You need JavaScript enabled to view it , CEO Eurogiro A/S.”

Deutsche Bank makes strategic investment in Eurogiro

Frankfurt am Main / London, January 20, 2010

Deutsche Bank's Global Transaction Banking division today announced that it has strengthened its ties with Eurogiro, a leading global payments network and community.  Eurogiro is the second largest network for cross-border payments with a focus on connecting the world's postal organizations, post banks, banks and other financial institutions. Deutsche Bank will take an 8% equity stake in the company.

Deutsche Bank has been engaged with Eurogiro for over 10 years and has established numerous long-term relationships with the Eurogiro community. The Bank is an acting board member of Eurogiro and also provides its members with US settlement services. This offering is currently being expanded to include multi-currency settlement services. For its part, Eurogiro provides Deutsche Bank with access to its global network of postal banks and postal organizations.

This latest strategic investment reinforces Deutsche Bank's commitment to the Eurogiro community and also to combining the Bank's existing offering with the reach of the Eurogiro network, thereby creating a unique product in the market.

Both parties stand to gain from Deutsche Bank's investment. Eurogiro will gain access to knowledge and support from a world-leading transaction bank while also ensuring financial flexibility to keep abreast with the latest developments in the payments market. Deutsche Bank, in turn, will combine its strong market position in payments and cash management with Eurogiro's unrivalled retail distribution power through the global postal network with a reach of over two billion individuals worldwide.

The ultimate beneficiaries of this partnership will be Deutsche Bank's Financial Institution clients. As Paul Camp, Head of Cash Management Financial Institutions at Deutsche Bank says, "Becoming a shareholder in Eurogiro perfectly supports our Global Remittance initiative. Clients will benefit from our existing product capabilities enhanced with the Eurogiro reach and functionality such as SMS advising. With minimal investment, our global clients can earn additional revenues as well as attract and retain customers with a new and improved remittance offering."

Armin Brun, chairman of Eurogiro and Deputy Head of Swiss Post PostFinance, adds, "As Chairman of Eurogiro, I welcome Deutsche Bank's continued and now significantly increased involvement with Eurogiro and with the Eurogiro community.  Deutsche Bank's investment underscores Eurogiro's unique market position and potential for growth. In my role as Head of Markets and Distribution for Swiss Post PostFinance, the largest provider of international payments in Switzerland, I have always valued our partnership and look forward to increasing our collaboration in part thanks to this mutual, close tie to the Eurogiro network".

For further information:

Deutsche Bank
Global Transaction Banking 

Christoph Woermann   
+44(0) 207 545 4432  
This e-mail address is being protected from spambots. You need JavaScript enabled to view it



About Deutsche Bank

Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,530 employees in 72 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

 

Eurogiro welcomes Dirham Express

PDF Print
Friday, 08 January 2010 10:31
Eurogiro welcomes Dirham Express

Dirham Express, a financial service business, registered with the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury and licensed by the New York State Banking Department; the Florida Office of Financial Regulation; the Division of Bank and Loan Agencies of the Commonwealth of Massachusetts; and, the Department of Insurance, Securities and Banking of the Government of the District Columbia joined Eurogiro November 11th 2009.

Since its inception in 1999, Dirham Express has specialized in providing money transfer services out of USA, primarily to Morocco, Egypt and certain countries in the Middle East. DIrham Express currently operates a retail remittance model via its network of branch offices in key cities located along the east coast of the United States.

Dirham Express' correspondent services are provided via its state-of-the-art international payment platform that combines timely and efficient processing of large volumes of transactions in multiple currencies, direct access to SWIFT and industry leading monitoring and compliance with anti money laundering and terrorist financing regulations in financial jurisdictions, like the United States.

Dirham Express will connect to Eurogiro using its SWIFT connection allowing it to be an active member of the Eurogiro community, by originating Eurogiro payment orders from the United States. Dirham Express welcomes all other Eurogiro members to get in touch to explore the mutual business opportunities with Dirham Express.
 

Season's Greetings

Citi partners with India Post through Eurogiro for landmark remittances solution

PDF Print
Friday, 11 December 2009 10:32
Citi partners with India Post through Eurogiro for landmark remittances solution

Citi announced on 10 December 2009 a landmark partnership with the Department of Post, Government of India (India Post) to enhance its recently launched MO Videsh remittance product. This international remittance service is powered by Citi's innovative Worldlink® Payment Services, and provides India Post the ability to send payments in over 130 currencies globally through their existing Eurogiro payments platform.

This deal is significant for both Citi and India Post leveraging the Citi and Eurogiro partnership to provide India Post with the widest number of currencies globally. Citi's partnership with Eurogiro was signed in August 2007 to enable members of Eurogiro, a low value payments network of postal organizations and financial institutions, access to Citi's existing distribution capacity and payment solutions.

Please find the whole press release here.
 

Eurogiro welcomes India Post

PDF Print
Thursday, 01 October 2009 09:51

India Post joins the Eurogiro community


Please welcome India Post as a member in the Eurogiro community, and an expansion of the Eurogiro payment gateway into the country of India.

 

India Post plans to launch its remittance service via the Eurogiro network in October 2009.  Across its vast network of post office branches, the Post will provide its customers with cash and account transfers for both incoming and outgoing payments.


Indians working abroad will now be able to send payments for either cash pickup at a postal branch, or request to send cash directly to their relatives at their doorstep. India Post will provide account-to-account international payments like the banks in India, and they also plan to provide an outbound payment service with Eurogiro members for cash receipt.

 

India Post is a 100% government-owned postal and financial institution, established over 150 years ago to promote postal services and small savings development in India. The strength of India Post lies in its vast network and the end-to-end rural reach it provides in retail and cash management.


The Post has a vast network of 155,035 post offices (as on 31st March 2008), and is the largest postal organisation in the world. As a result it has become a popular mechanism for last mile delivery of both private commercial and governmental services.


India Post as a retail outlet has been increasing in popularity. The rapidly changing Indian economic scenario - liberalization, globalization, and a widespread technological revolution –has given rise to the need for efficient delivery of a variety of services.  The Post provides not only universal postal services, but it also serves as a useful channel for other socially significant schemes like small savings, payment of Pension, Postal Life Insurance, especially for rural India.


The Post Office Savings Bank is the oldest and largest banking institution in India. It has over 200 million savings accounts and provides deposit facilities at over 154,000 branches spread out throughout India. In addition to its current deposit based activities, it also distributes a number of investment options including mutual funds, pension funds and non-life insurance.


The country of India is the largest receiver of international remittances. The World Bank estimates that US $45 billion of remittances were received by India in 2008, compared to $27 billion in 2007. In its annual report of 2008-09, the RBI said the global economic downturn had not dampened the flow of remittances to India, owing to many factors such as depreciation of the rupee, hike in interest rate ceilings on NRI deposits and uncertainties in oil prices.


For more information on connecting with India Post via the Eurogiro network, please contact Ms Manisha Sinha at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Eurogiro welcomes LANDBANK

PDF Print
Tuesday, 15 September 2009 12:15

LANDBANK joins the Eurogiro Community


Please welcome the Land Bank of the Philippines (LANDBANK) as a member in the Eurogiro community, and an expansion of the Eurogiro payment gateway into the country of the Philippines.

 

LANDBANK is a 100% government-owned financial institution, and is the largest government bank by asset size in the Philippines. With its social mandate of spurring countryside development in the Philippines, LANDBANK has the most extensive distribution reach into 80 of the 81 provinces in the country, serving its customers through its 342 branches, extension offices, tellering booths, forex and servicing units. It also has more than 800 ATMs strategically located across the country. The Bank’s operations are regulated by Bangko Sentral ng Pilipinas.

 

The World Bank reported that the Philippines received US$16.4 billion in 2008, and is the 4th largest country recipient of inbound remittances in the world. Remittance inflows are a major driver of growth and consumption in the Philippine economy, representing about 10 percent of the country’s GDP.

 

LANDBANK’s aim in joining Eurogiro is to provide a more extensive reach to the millions of Overseas Filipinos who seek a safe, reliable and low-cost means to send money home. In a recent press statement, LANDBANK President & CEO Gilda E. Pico said, “LANDBANK is geared towards further enhancing our programs for OFWs. We are committed to serve and respond to the banking needs of our kababayans (countrymen) all over the world, as well as their families in the Philippines”. LANDBANK’s membership with the Eurogiro community is a step towards this direction.

 

For more information on connecting with LANDBANK via the Eurogiro network, please contact Ms Carol Olfindo at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Eurogiro now also CSM for SDD

PDF Print
Saturday, 05 September 2009 17:25

Eurogiro now also CSM for SDD

Eurogiro has now posted its disclosure letter as a SEPA Direct Debit compliant Clearing and Settlement Mechanism (CSM) with the European Payment Council (EPC). Eurogiro has developed the basic message exchange formats to comply with the SEPA Core Direct Debit requirements. The development was made in close cooperation with Deutsche Bank and Swiss PostFinance who also were the first to request that Eurogiro expand its service offering to include the SDD.

The SEPA Direct Debit is a new type of product in the Eurogiro portfolio. Up till now, Eurogiro payments have been credits and cash payments. Coming the transposition of the EU payment Services Directive from 2 November 2009 into national laws in all EU countries, the new SEPA cross border Direct Debit is expected to get optimum conditions for growth.
 

Eurogiro welcomes Vietnam Post

PDF Print
Monday, 03 August 2009 08:00

Eurogiro welcomes Vietnam Post

Eurogiro welcomes Vietnam Post (VNPost) as a new member in the Eurogiro community, and a new Eurogiro payment gateway into the country of Vietnam.

 

Mr Vinh, Vice President at VNPost notes that the Post has paid great attention to develop different electronic systems or exchanging international money orders with other countries with the aim is to improve service quality and expand cooperation with postal organizations, banks and remittance companies all over the world, and is at the same time strengthening its domestic network operations.

VNPost’s decision to join Eurogiro was based on the benefits to be realised from the Eurogiro community and network that has been offering an international payments service as its core business for over 15 years, with a proven business and IT infrastructure that ensures high quality, international standards for payments, and connectivity to post and banks in nearly 50 countries.

 

VNPost is scheduled to go live with the Eurogiro network in September 2009. The initial phase will provide cash receipt for international funds transfers at 1,200 designated postal branches of VNPost.

According to a World Bank report, Vietnam is the 10th largest receiving remittances country in the world among the developing countries.  Vietnam's central bank has forecasted inflows for overseas remittances to be between US$5.8 billion and $6 billion in 2009.

 

For more information on connecting with Vietnam Post via the Eurogiro network, please contact Ms. Chu Thi Lan Huong at This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Eurogiro welcomes Envoy Services Limited

PDF Print
Wednesday, 08 July 2009 12:20

Eurogiro welcomes Envoy Services Limited

Eurogiro is pleased to welcome Envoy Services Ltd. to the Eurogiro community. Envoy Services joined the recently launched Eurogiro Multilateral Framework as the first new customer and will consequently immediately have reach to all the Eurogiro customers participating in this framework.

 

Envoy Services Ltd is a UK incorporated payment technology and service provider for the corporate sector providing services to both online and offline companies requiring localised and low cost bill collection and payment execution on a cross border basis.

Envoy Services Ltd is registered with HM Revenue and Customs in the UK as a Money Service Business (MSB) and will become registered as a Payment Institution according to the EU Payments Service Directive.

 

“By joining the Eurogiro community Envoy Services Ltd has taken an important step in our efforts to expand our network for payments and services in cooperation with other Eurogiro members. In parallel to our participation in the Multilateral Framework we will pursue bilateral agreements with Eurogiro members still operation under the bilateral framework” says Stefan Burkwood, Banking Director at Envoy Services.

 

Live production is scheduled for September 2009.

 

For more information on connecting with Envoy Services via the Eurogiro network please contact Mr. Stefan Burkwood at telephone: +44 20 7436 7851 or e-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

Eurogiro launches new SMS notification service

PDF Print
Friday, 29 May 2009 12:04

Eurogiro launches new SMS notification service

Eurogiro has developed a service for SMS notification to the beneficiary of a pending Eurogiro Cash International (ECI) payment and to the sender of a successful pay-out of the ECI payment instruction. An SMS alert will be sent to the beneficiary when the funds are available and ready for collection. Similarly, an SMS will be sent to the sending customer when the beneficiary has collected the funds.

Very little investment is needed by the sending organization to make use of this service.

Eurogiro also offers a service where the sending organization can broadcast the same text to a number of receivers. This service is not linked to the ECI product (or any other Eurogiro product) but can be used by any Eurogiro customer. It may be useful for exception and investigation handling and is based on the SWIFT MT199 – a free format message – where the phone numbers and the required text must be specified.

Eurogiro has now taken the first step in integrating mobile technology in the financial payment flow.

For more information, please contact Eurogiro at This e-mail address is being protected from spambots. You need JavaScript enabled to view it and read more about this new service in our Newsletter June 2009 issue.

 

CSM's promote SEPA process

PDF Print
Tuesday, 14 April 2009 07:03

Public Statement of Infrastructures promoting the SEPA Progress

 

We, the undersigning infrastructures, actively support the initiative for a Single Euro Payments Area (SEPA).


In order to provide the operational base for the exchange of SEPA payment instruments, we are offering the processing of SEPA Credit Transfer (SCT) to our customer banks, in line with the current provisions set forth by the European banking community and supported by the European Commission and the ECB/Eurosystem.


However, according to our assessment the adoption of the SEPA Credit Transfer has been below most stakeholders’ expectations so far – although we have been providing the necessary infrastructural base. One reason for this is the fact that a lot of public administrations will only start their SEPA migration in the course of 2009.
Likewise, corporations have been hesitant in adopting the SEPA. In order to facilitate the SEPA adoption by public administrations and corporations, we therefore welcome the recommendations already made by the Council of the European Union (ECOFIN) in February 2009 and the Eurosystem and appreciate every future reemphasis that all public administrations and corporations should consider adopting the SCT (and as soon as it is introduced the SEPA Direct Debit) as preferred payment instruments.


Another major reason for the moderate adoption rate might be the insecurity if and when legacy payment instruments will be phased out. It goes without saying that an indefinite parallel processing of legacy payment instruments and SEPA instruments leads to inefficiencies and additional costs for us infrastructures and our customer banks. Moreover increased SEPA Credit Transfer volumes would allow us and our customer banks to reap benefits of economies of scale.

 

For several years we, as well as our customer banks, have been making considerable investments in order to fulfil the SEPA requirements on time. Therefore, we are interested in planning security, which is likely to promote the diffusion of the SEPA Credit Transfer. In addition, increased planning security would serve those infrastructures which plan to introduce the SEPA Direct Debit (SDD) in 2009.


We are well aware that there are arguments in favour for one common SEPA migration end date for both SEPA instruments (i.e. credit transfers and direct debits) as well as for two separate dates. Although there are advocates for each of these possibilities among the undersigning infrastructures, all of us agree that any of these two outcomes would be better than having no SEPA migration end date at all.

 

For that reason we are in favour of (a) defined migration end date(s), after which the vast majority of all credit transfers and direct debits in euro (e.g. 90 per cent) will be processed with SEPA instruments only. When defining such (a) date(s), the typical investment cycles (i.e. 3 – 5 years) have to be taken into consideration. Although SEPA has in principal been a market driven project, there is a lot of political interest in the success of SEPA too. Therefore not only a self-regulated migration date but also a regulated one, based on consideration of market feedback, could be a way forward.


We therefore encourage all involved stakeholders to contribute to the discussion on the end date(s) for migration. Based on this discussion, the relevant entities should publish the SEPA migration end date(s) in the course of 2009.


- The undersigning infrastructures in alphabetic order -

 

In its capacity of RPS

in its capacity as the operator of STEP.AT

 

 

 

Postal Organisations Expand Financial Services to Capture High-Growth Global Remittances

PDF Print
Monday, 09 March 2009 14:04
Postal organisations expand financial services to capture high-growth global remittances, Ms Juanita Woodward, Eurogiro
HBSC's Guide to Cash, Supply Chain and Treasury Management in Asia Pacific 2009
 

Eurogiro launches MultiLateral Framework

PDF Print
Thursday, 05 March 2009 12:46

Eurogiro launches Multilateral Framework

 

Eurogiro is proud to launch its MultiLateral Framework (MLF). MLF is a new way to speed up the opening of payment corridors among Eurogiro customers. The guiding principle of the development has been to remove known obstacles to fast and easy implementation of payment corridors in the community. Intensive cooperation involving many Eurogiro customers has resulted in multilateral solutions to many of the challenges of facing correspondent bankers in banks as well as postal organizations.

Eurogiro has enhanced its known, standardized products with multilaterally agreed service levels and single point of settlement solutions. On top of this Eurogiro has created a MultiLateral agreement and Connectivity Certificate to ease the time consuming setting up of bilateral agreements and testing. Furthermore, we enable our customers to collect necessary data on partners from a web based Price Information Billboard and from other rich information services thereby avoid having to collect necessary data on partners from many sources. Eurogiro customers will benefit from substantial cost savings.

 

Eurogiro will launch the MultiLateral Framework in parallel to existing customers and new customers to leverage our unmatched reach.

 

More information on the Eurogiro Multilateral Framework can be retrieved here.
 

Postal organisations expand financial services

PDF Print
Thursday, 29 January 2009 13:19

Postal organisations expand financial services to capture high-growth global remittances.

Please find here the entire article on the topic made by Ms Juanita Woodward, Director Customer Relations, Asia Pacific, Eurogiro A/S, Singapore Representative Office.

The article was published in the HSBC's Guide to Cash, Supply Chain and Treasury Mananagement in Asia Pacific 2009.

 

Succesful migration of Service Desk

PDF Print
Monday, 05 January 2009 09:53
The Eurogiro Service Desk - ENOC - has successfully been migrated to Cortex Consult. The Service Desk is responsible for the daily operation of the Eurogiro IT infrastructure used by the Eurogiro customers around the world.  
The migration to Cortex has been ongoing since August, new staff has been trained, new service procedures developed and new service tools implemented. In this process we have received very good service from HP - our old service provider - in the transfer of knowledge.
 

Changes within the Eurogiro Organisation

PDF Print
Wednesday, 12 November 2008 09:44
In Line with the goals and ambitions of the Eurogiro Group, we have decided to introduce a new management position, directly reporting to the CEO of Eurogiro Holding A/S, to boost and support the expansion of new business opportunities.

As of today a Program Director New Business Development wil investigate, initiate and develop new areas for cooperation with potential partners.

It is with great pleasure that Søren Rose, at present CEO of Eurogiro A/S, is appointed in this new position.

Given the fact that for the present activities of Eurogiro an optimal coordination of all sales initiatives in the interest of existing and potential customers, Tjeerd Rienstra will, next to his other responsibilities, take over Søren Rose's present responsibilities and also act as CEO of Eurogiro A/S.


 

New vendor for Managed Network Services

PDF Print
Thursday, 23 October 2008 20:47

New vendor for Managed Network Services - ENOC

Eurogiro has signed a contract with a new vendor - Cortex Consult A/S - for the Managed Network Services. The contract covers the daily operation of the Eurogiro IT infrastructure. This includes a Service Desk and remote monitoring of the Eurogiro application servers installed at the members around the world. The contract also includes the administration of the VPN network and our CA server for certificate issuance for authentication and signing of the messages exchanged in the network.
 
The migration process has started and Cortex Consult will take over the service from HP by 1 January 2009.
 
Cortex Consult A/S is a Danish company specialized within facility management of IT infrastructure solutions, hosting, ITIL based service management, helpdesk, monitoring, back-up and consultancy. As a supplier to the medical industry Cortex Consult has a long experience working in strict regulated environments with high demands for security and standardized procedures.  
 

Meet us at SIBOS

Demerger of Eurogiro Network A/S now realized

Bangkok Bank joins Eurogiro

PDF Print
Thursday, 14 August 2008 10:54

Bangkok Bank joins Eurogiro

Eurogiro is pleased to welcome Bangkok Bank as the first Thai commercial Bank member to join the Eurogiro network.

Mr. Thanit Sirichote, Senior Vice President, Global Payment Services Department, Bangkok Bank said, We recognize that postal organisations have an increasingly important role to play in the international consumer remittance business. Our direct business relationship with post offices and post banks under the Eurogiro framework will make it more convenient and cost effective for customers to remit funds to and from Thailand. Germany, Britain, Switzerland, Italy, Japan and South Korea are key payment corridors for consumer payments into Thailand.

As Bangkok Bank is a leading member of all payment-related systems and organisations in Thailand, Mr. Sirichote is confident that Bangkok Bank is well-positioned to provide Eurogiro members with complete payment solutions in the Thai market. Implementation of the Eurogiro services is scheduled to be completed in July 2008. Bangkok Bank will offer Eurogiro members both credit transfers to account, including access to other banks in Thailand, as well as cash payout service at all Bangkok Bank branches across Thailand. Eurogiro members can now send Bangkok Bank SWIFT MT103 customer credit transfers as a single payment or in bulk files via the Eurogiro gateway.

Bangkok Bank is the largest commercial bank in Thailand, with assets of over USD 32 billion. It operates a domestic network of over 750 branches and 4,500 ATMs across Thailand and has an international branch network spanning 13 countries in the Asia Pacific, the United Kingdom and the United States. Bangkok Bank provides a wide range of payment services including consumer payments, corporate and international cash management services and clears more THB payments for foreign financial institutions than any other financial institution in Thailand.

For more information on connecting with Bangkok Bank via the Eurogiro network, contact Ms Benjawan Vichitthanaruk at Tel: +66 2 626 4155 or This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

Single point EUR settlement services prolonged for 3 years

PDF Print
Thursday, 14 August 2008 10:53

Single point EUR settlement services prolonged for 3 years

A settlement specialist group in Eurogiro has decided for prolongation of the current single point EUR Settlement Service provided by Deutsche Postbank.

After the overwhelming satisfaction expressed by the users of the service, it was an obvious opportunity for Eurogiro to agree with the EUR Settlement Service Provider - ESSP - to continue the cooperation for another three year term. The current service will run until 2011 with similar attractive conditions as offered today. The single point of settlement of one of the most important currencies in Eurogiro has provided most of the Eurogiro customers with significant cost efficiencies especially in cash management. Not least the postal organisations in Eurogiro are benefiting from a settlement set-up that is unprecedented in the postal environment, and reduces the risks of settlement and eases the administrative burdens.

 

USD settlement service will run at least to 2011

PDF Print
Thursday, 14 August 2008 10:52

USD settlement service will run at least to 2011

The trial period assigned for the first term of the single point of USD settlement service is over and the service will be continued to late 2011.

There was full support from the users of the single point of USD Settlement service, provided by Deutsche Bank to the Eurogiro community, to prolong the service. A group of settlement specialists in Eurogiro performed a review of the performance provided in the first year of the service, and after very satisfactory results, the group and Eurogiro agreed to continue for another four years. Eurogiro has great ambitions with this service and its ability to be a backbone in the expansion into Asia. A single point of settlement service is an excellent cost-cutting tool for Eurogiro customers and a unique service in the remittance business. Especially postal organisations may benefit from the efficiency of banking settlement, while maintaining control of cash flows.

 

Paositra Malagasy in Madagascar has joined Eurogiro

PDF Print
Thursday, 14 August 2008 10:51

Paositra Malagasy in Madagascar has joined Eurogiro

Eurogiro is pleased to announce that Paositra Malagasy joined the Eurogiro community in December 2007.

Paositra Malagasy is a 100% state owned service provider offering postal and financial services in Madagascar. The Post has 354 points of sale of which 230 are Post offices covering country wide. The Post offers standard postal money orders and express money orders and has also recently joined Western Union as a direct agent. The post does not hold a full banking licence as they are not allowed to offer loans and credit accounts, but only current accounts. They do have access to the domestic clearing via the Central Bank and thus also able to forward account payments to third banks in Madagascar.

Paositra Malagasy is therefore interested in exchanging both cash and account transfers via Eurogiro.

The biggest potential traffic volume is with France, Switzerland, Spain, Italy and Japan (and potential Eurogiro countries such as Djibouti and South Africa). It is expected that Paositra Malagasy will be operational and live end of 1Q 2008.

 

Eurogiro has opened Representative Office in Singapore

PDF Print
Thursday, 14 August 2008 10:49

Eurogiro has opened Representative Office in Singapore

Eurogiro is pleased to announce that Ms. Juanita Woodward has joined Eurogiro as Director, Customer Relations for Asia Pacific. Ms Woodward is based in Singapore where Eurogiro has now established its first regional office to better serve its members. Recognising the significant cross-border payment flows with Asia and intra-Asia, the opening of a regional office in Singapore demonstrates Eurogiro's commitment to provide a global network for international low-value payments. Eurogiro's plans to expand the membership base of postal financial institutions, postbanks and commercial banks in Asia Pacific, will provide end-customers with a greater choice of locations to send remittances.

With over 20 years of experience in Transaction Banking and 15 years in Asia Pacific, Juanita is enthusiastic about working with the Eurogiro member community in the region. She previously held regional and global roles at Citibank, ABN AMRO and Standard Chartered Bank, working with corporations, financial institutions and government organisations. Her career in banking has spanned the disciplines of marketing and communications, product management, and IT implementation.

With the opening of Eurogiro's regional office in Singapore, serving and developing the Eurogiro community in Asia Pacific is Juanita's aim in this newly created position. Asian-based members of the Eurogiro community will now have a contact point that is in touch with developments in the region, and can be reached during Asian business hours.

Contact Information:

Ms Juanita Woodward
Director, Customer Relations for Asia Pacific
9 Raffles Place
Republic Plaza, Level 58
Singapore 048619

Phone: +65 6823 1223
Fax: +65 6823 1377
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Eurogiro with new positioning

PDF Print
Thursday, 14 August 2008 10:46

Eurogiro with new positioning

Press release

Lisbon, October 26, 2007

New structure intended to support ambitious growth targets/Deutsche Postbank AG CIO becomes Chairman

Eurogiro, the world's second largest network provider for cross-border payment transactions, is repositioning itself. The Management Board and shareholders of the company, headquartered in Denmark, decided October 26 in Lisbon for transformation into a group. Under a holding company responsible for strategic management and cross-divisional tasks, there are three subsidiaries with clearly demarcated operative tasks. In addition to his mandate as CIO of Deutsche Postbank AG, Dirk Berensmann will act as Chairman of the new Eurogiro Holding A/S, The new structure means we can pursue our ambitious growth strategy much more efficiently and extend our worldwide business-to-business network. The focus will remain on cross-border payments for retail and wholesale financial services providers and business involving cross-border cash payments. Eurogiro intends to increase the number of financial service providers which use the network from the present 60 up to 100 by 2010, thus increasing the transaction volume from the current 30 million up to 45 million transactions annually.

The subsidiaries of Eurogiro Holding, founded October 26, will be spun off from the present Eurogiro Network A/S in May 2008 retroactively to January 1, 2008. Eurogiro Network remains a legal entity up to this time.

The new companies are:

- Eurogiro Holding A/S. Responsible for strategic management and services for the entire Group (HR, marketing, finance, law etc.) Chairman: Dirk Berensmann (Deutsche Postbank), Chief Executive Officer: Tjeerd Rienstra

- Eurogiro A/S. Responsible for worldwide network coverage and client management. Current clients and contractual partners will be transferred to the new company on the same conditions. Chairman: Henk Kruidenier (until 2005 ING Bank), Chief Executive Officer: Søren Rose.

- NewCo A/S. Responsible for the development of new, multilateral solutions for large banks and large payment transactions service providers. Chairman: Paul Camp (Deutsche Bank), Chief Executive Officer: Tjeerd Rienstra

- IT/OPS A/S. Responsible for system infrastructure including cooperation within the IT and Operations division. Chairman: Dirk Berensmann (Deutsche Postbank), Chief Executive Officer: Uwe Holmsgaard

Henrik Parl, CEO at Eurogiro Network for 11 years, will remain as CEO of Eurogiro Network AS until its conclusion in May 2008. He will subsequently be leaving the company of his own accord to take on new responsibilities.

About Eurogiro Eurogiro Network A/S, headquartered in Denmark, is a worldwide affiliation of post-banks and financial institutions for the support of their international payment transactions. Eurogiro offers its clients and partners rapid, secure and economical solutions for cross-border payments including payment instructions. The network currently comprises more than 60 postbanks, postal organizations, banks and contractual partners. Further information available at www.eurogiro.com.

 

Citi and Eurogiro join forces to expand payment networks

PDF Print
Thursday, 14 August 2008 10:43

Citi and Eurogiro join forces to expand payment networks

Combined Distribution Network Will Allow Clients To Send and Receive Payments In Over 100 Countries Around the World

London  (August 30, 2007) - Citi Markets & Banking and Eurogiro, a low value payments network of postal organisations and financial institutions, today announced they would collaborate to extend their respective payment networks. The alliance will bring together Eurogiro's 61 connections in 50 countries across the globe with Citi's existing payment network encompassing over 100 countries. The alliance will enable Eurogiro's members to benefit from Citi's distribution capacity and payment offerings, while Citi and its customers will gain access to Eurogiro's unique distribution network and products.

Henrik Parl, Managing Director of Eurogiro said, We are thrilled to be collaborating with Citi. Citi provides Eurogiro with the leading international payments capabilities and cross-border expertise we were looking for in a banking relationship so we can continue to grow our network while providing clients with the greatest choice of solutions at the best price.

Francesco Vanni d'Archirafi, Global Transaction Services Head for Europe, Middle East and Africa at Citi said, Expanding our payment network is a core initiative for Citi and Eurogiro is an ideal ally for us. We are proud to be working with Eurogiro to extend our respective networks to create this best in class solution.

Naveed Sultan, Head of Cash Management for Europe, Middle East and Africa at Citi said, Citi and Eurogiro are a complimentary fit as Eurogiro members can leverage Citi's international payment services while Citi and our customers will benefit from utilizing Eurogiro's unparalleled distribution network. We look forward to our continued work together.

Media Contacts: Eurogiro: Soren Rose, +45 4371 2772 This e-mail address is being protected from spambots. You need JavaScript enabled to view it Citi: Jeanette Volpi +44 (0)207 986 2809 This e-mail address is being protected from spambots. You need JavaScript enabled to view it

About Eurogiro:

Eurogiro Network A/S is a network of financial institutions providing effective solutions and an efficient platform for co-operation on cross border payments. Eurogiro's core strengths are cost efficient solutions, connectivity across borders and among different financial players and a friendly and efficient co-operation spirit. Fifty-seven organizations, i.e. posts, postbanks and commercial banks as well as alliance partners among other providers forms the Eurogiro community.

About Citi:

Citi Markets & Banking is the most complete financial partner to corporations, financial institutions, institutional investors and governments in the world. As a global leader in banking, capital markets, and transaction services, with a presence in many countries dating back more than 100 years, Citi enables clients to achieve their strategic financial objectives by providing them with cutting-edge ideas, best-in-class products and solutions, and unparalleled access to capital and liquidity. Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under the trademark red arc include: Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.

 

Western Union and Eurogiro extend cooperative agreement

PDF Print
Thursday, 14 August 2008 10:42

Western Union and Eurogiro extend cooperative agreement

Englewood, COLO (July 16, 2007) The Western Union Company (NYSE: WU), a global leader in money transfer services, and Eurogiro, a provider of electronic payment network solutions, today announced that they have extended their alliance for a multi-year term.

Eurogiro was created to give participating European post offices and post banks a means of facilitating cross border payments. The organization now spans 51 countries around the world. Eurogiro's goal is to enhance customer service, reduce production costs and increase business within member organizations.

In 1998, Eurogiro and Western Union joined forces to provide Western Union services at selected Eurogiro members. Today, more than 25 Eurogiro members, including banks, post offices and postal banks offer Western Union Money Transfer services through more than 40,000 locations in more than 20 countries.

Our relationship with Eurogiro is strategically very important for Western Union, said Hikmet Ersek, Executive Vice President, Europe, Middle East, Africa and South Asia, Western Union. Western Union strives to associate with the most trusted service providers throughout the world. Eurogiro members offer a network of convenient, familiar and reliable locations that are already a part of our consumers daily lives.

The Western Union same day cash-to-cash product enables Eurogiro members to reach about 200 countries and thereby supplements Eurogiro's other quality services for the remittance market, say Henrik Parl, chief executive of Eurogiro.

Together, Western Union and Eurogiro will continue to pursue opportunities to expand availability of money transfer services throughout the region and explore opportunities to extend the range of services available through Eurogiro's member organizations.

 

HayPost in Armenia joins Eurogiro

PDF Print
Thursday, 14 August 2008 10:40

Haypost in Armenia joins Eurogiro

On 27 April HayPost signed the membership agreement for Eurogiro Network, through which HayPost offices will be electronically connected to more than 60,000 post offices across Europe; the 50 million Postbank accountholders in Europe will be able to send money in a reliable, fast manner and at low cost to any of the 900 communities in Armenia.

The Eurogiro membership also provides high quality gateways to the U.S. banking system, and e.g. postal banks in Brazil, Japan and China. The Eurogiro membership is a fundamental step towards the Postbank in Armenia - it will fuel the competition in money transfers. Armenia's rural and remote communities will be able to receive their money literally around the corner- without the need to travel a day to a bank branch in the city said Hans Boon, trust manager of HayPost.

Armenia is the first country of the Commonwealth of Independent States that joins Eurogiro - we are very happy with this expansion of Eurogiro's network and welcome HayPost ! commented Soren Rose, the Deputy Managing Director of Eurogiro Network.

 

Eurogiro active in the UN Advisory Group on Inclusive Financial Sectors

PDF Print
Thursday, 14 August 2008 10:38

Eurogiro active in the UN advisory Group on Inclusive Financial Sectors

The UN Advisory Group on Inclusive Financial Sectors recently issued a number of key messages. The aim of the group is to involve a large number of private and public institutions in the quest for improved access to financial services for the poor. For Eurogiro this initiative is of the highest importance. Firstly, because many of our members, such as postal/savings organisations, play an important part in providing financial inclusion for the poor. Secondly, because a key objective for Eurogiro is to improve interoperability for remittances globally not least to the benefit of immigrants with limited access to financial services.

Please click here to get a copy of the key messages.

 

Polish Post has signed up with Eurogiro

PDF Print
Thursday, 14 August 2008 10:35

Polish Post has signed up with Eurogiro

We are very happy to announce that Polish Post has become the second Eurogiro member in Poland.

Polish Post having around 8,000 outlets offers its own financial services - money transfers - and sells financial services of other institutions: banks, insurance companies, investment funds.

Also in September Polish Post signed a new agreement with Bank Pocztowy (Post Bank) according to which their cooperation is strengthened. As a result the widest national network of outlets like separate financial stands will be created in 3,000 post offices. Other services will also be launched like current accounts for individual customers and for small businesses, deposit accounts and granting credits. Furthermore, the introduction of electronic forms of settlement will modernise the procedure of accepting remittances onto accounts kept in other banks.

Main corridors are: Slovakia, France, Spain, Italy, Switzerland and Ukraine, but we recommend all members with potential cash transactions to Poland to contact Polish Post.

The installation of the Eurogiro System is scheduled for Q1 2007.

 

Discussion paper from the World Bank on the Role of Postal Networks

PDF Print
Thursday, 14 August 2008 10:35

Discussion paper from the World Bank on the Role of Postal Networks

The World Bank recently published a discussion paper providing a unique insight into the worldwide provision of postal financial services. It builds on the findings and conclusions of a study commissioned by the Global Information and Communication Technologies (GICT) Department of the World Bank and is a result of a multiyear effort by several groups of contributors.

The study comprises amongst others a review of about 60 developing countries in 5 regional landscapes, it gives a further in depth analysis of 7 specific countries like Egypt, Sri Lanka, Vietnam, etc. and identifies the strengths, weaknesses, opportunities and threats faced by the postal sector from a financial sector perspective and a communication sector perspective.

Please click here to get a copy of the discussion paper.


 

Eurogiro is happy to welcome Canada Post Corporation as member

PDF Print
Thursday, 14 August 2008 10:34

Eurogiro is happy to welcome Canada Post Corpotation as member

Canada Post delivers 40 million letters, parcels and electronic messages each day to approximately 32 million Canadians at more than 14 million addresses and over 1 million Canadian businesses from coast-to-coast. Incorporated in 1981, its approximately 71,000 full- and part-time employees and a network of approximately 7,000 post offices, the largest retail network in Canada, represent a trusted presence in communities across the country, and they have been for more than 150 years. In 2005, it earned net income of CDN$199 million on revenues of CDN$6.9 billion.

Canada Post has been in the money order business for over 150 years, offering domestic and international products. Canada Post has had a long-standing reputation for providing money order services and is a trusted brand in Canada. In order to keep current with business practices, and a desire to automate, an agreement has been signed with Eurogiro. This will allow Canada Post to remain competitive in this market as well as provide an opportunity to expand the business with other automated Universal Postal Union members with a larger international reach.

Canada Post will connect to the Eurogiro Network through the Eurogiro Local System (ELS). The installation will be scheduled after the summer holiday period.

In addition to Canada Post, The Canada Post Group includes Purolator Courier Ltd., Progistix-Solutions Inc., Intelcom Courier Canada Inc., epost and Innovapost (jointly owned by Canada Post and CGI). Canada Post is world leader, providing innovative physical and electronic delivery solutions, creating value for its customers and new ways to communicate that are bold, innovative and effective. It connects Canadians from anywhere to anyone. Web site: www.canadapost.ca

 

XacBank from Mongolia has joined Eurogiro

PDF Print
Thursday, 14 August 2008 10:33

Xacbank from Mongolia has joined Eurogiro

We are very happy to announce that XacBank in Mongolia has joined the Eurogiro co-operation.

Mongolia is one of the most sparsely populated places on earth and providing financial services to remote areas is a formidable challenge. However, XacBank with its network of over 50 branches and presence in over 180 small villages across the country with innovative mobile banking units is able to facilitate banking services including remittances from other countries to recipients in rural areas.

XacBank has a full banking license and provides universal commercial banking products although having micro financing as its core competency. XacBank will implement both cash and account transfers and has access to the domestic clearing via Clearing Center of Mongolbank, which is the Central Bank of Mongolia. The bank is a SWIFT member but will initially implement the direct ELS connection solution.

Main payment corridors for Mongolia is China and Korea but also Japan and Hungary are of significant importance.

 

Albania Post has signed up with Eurogiro

PDF Print
Thursday, 14 August 2008 10:31

Albania Post has signed up with Eurogiro

We are very happy to announce that Albania Post (Posta Shqiptare sh.a.) has joined the Eurogiro co-operation, now counting 52 members providing close to 60 connections in 48 countries.

Albania Post has approximately 531 post offices of which 159 are located in city centres and 372 post offices in rural areas. Albania Post is offering a wide variety of postal financial services like domestic and cross-border money orders, pension payments, taxes, utility bills payments and social security payments. Initially the traditional Money Order and Eurogiro-TMO will be the first EG products offered. Greece, Italy, France and Switzerland are some of the important countries for exchange of payments with Albania.

The installation of the Eurogiro System will be scheduled after the summer holiday period.

 

ANZ Bank in Australia joins Eurogiro

PDF Print
Thursday, 14 August 2008 10:29

ANZ Bank in austraila joins Eurogiro

Eurogiro is happy to announce that ANZ Bank has joined the Eurogiro Network as the first Australian member.

Membership of Eurogiro enables ANZ to expand its large volume international payments capabilities and provides an opportunity to create new strategic alliances with key postal organisations and banks around the world.

Ms Jenny Reynolds, ANZ's Head of Clearing Services explains, 'The combined force of Eurogiro members constitutes a significant financial partnership offering large potential for reciprocal payments business between members.'

'Through Eurogiro, ANZ not only provides a wider range of remittance products to its clients, it also opens the gateway into Australia for Eurogiro members around the world,' she said.

Eurogiro acts as a club with the goal to strengthen the cooperation between giro and postbanks or commercial banks for electronic payment solutions. The Eurogiro product range, alliances and service level agreements enables ANZ to offer competitive cross-border payment products meeting customer's demands.

The Eurogiro network spans world-wide with members in Asia, Africa, Canada, the United States of America, with the largest presence of members in Europe.

ANZ's membership is underpinned by SWIFTNet FileAct capabilities to facilitate low value high volume global payments.

 

WSBI and Eurogiro announce cooperation agreement in the field of remittances

PDF Print
Thursday, 14 August 2008 10:26

WSBI and Eurogiro announce cooperation agreement in the field of remittances

The World Savings Banks Institute (WSBI) and Eurogiro today announced the conclusion of a cooperation agreement. The agreement focuses on joint marketing offers towards expanding the current Eurogiro remittances solutions as well as the Eufiserv ATM switching services.

Thanks to the connectivity and product capability of Eurogiro, the global network of the organization reaches 200 countries and handles approx. 30 million financial transfers per year, WSBI members will be able to offer competitive and reliable money transfer services to their clients. On the other hand, since WSBI members are present in more than a hundred countries, have a large and dense branch network and are specialists in retail banking, this cooperation will greatly enhance the potential outreach of Eurogiro.

Chris De Noose, Chairman of the WSBI management committee declared: Thanks to this cooperation agreement, WSBI members all over the world can offer efficient and cost-effective transfer services to their clients. In Asia, but also on the other continents, important remittances flows exist and collaboration between WSBI and Eurogiro constitutes an excellent business opportunity for both parties involved.

Henrik Parl, Managing Director of Eurogiro declared: Our 2 organizations combine distribution networks to achieve better reach for remittances, as well as a better basis for providing improved opportunities for inclusive financial services for more people specially in less developed countries.

 

Finance Engineering JSC from Bulgaria has signed up with Eurogiro

PDF Print
Thursday, 14 August 2008 10:24

Finance Engineering JSC from Bulgaria has signed up with Eurogiro

We are very happy to announce that Finance Engineering JSC in Bulgaria has joined the Eurogiro co-operation.

Finance Engineering was in September 2004 as the first private postal operator in Bulgaria granted an individual licence for providing part of the Universal Postal Service; Money Transfers. The licence was granted by the Communication Regulatory Commission, the official Bulgarian supervisory authority of the Postal organisations.

Finance Engineering is in the process of building its distribution network, and the objective is to establish a Point of Sale in all cities of Bulgaria with a population over 3,000 inhabitants. The postal services provided by Finance Engineering will be branded POSTFINANCE.

Initially the traditional Money Order will be the main product offered, but is the intention of Finance Engineering also to introduce the Eurogiro-TMO, the modern two-day cash transfer product. Austria, Portugal and Spain are some of the important countries for exchange of payments.

The installation of the Eurogiro System is scheduled for the last week of May 2006.

 

Single point of settlement also for USD

PDF Print
Wednesday, 13 August 2008 14:10

Eurogiro Single point of Settlemen also for USD

Deutsche Bank has been selected as the coming provider of USD settlement services for the Eurogiro community, after a selection process within the Eurogiro community. Deutsche Bank is already providing similar services for some Eurogiro members and has demonstrated a strong presence in all regions of interest as well as a strong commitment to provide state of the art services to Eurogiro members.

The settlement service for USD is shaped on the concept of the EUR settlement service, which is enjoying much respect among Eurogiro members. Thus Eurogiro members live on ESSP will find that operationally and technically the new USSP will require only little additional adjustment.

The service will be on offer from 1 October 2006, and will be provided by Deutsche Bank for one year of probation and will eventually be prolonged for additional four years if the service proves satisfactory.

 

UPU And Eurogiro joint project makes transactions possible

PRESS RELEASE: Demeger of Eurogiro Networks A/S

PDF Print
Wednesday, 21 May 2008 13:57

Press release

Taastrup, May 21, 2008

 
DEMERGER OF EUROGIRO NETWORK A/S NOW REALIZED
The company is now split up in three new companies: Eurogiro A/S, Eurogiro Solutions A/S and Eurogiro NCIP A/S 

The Management Board is happy to announce the realization of the demerger of Eurogiro Network A/S, which has been 100% owned by Eurogiro Holding A/S since October 2007.

The three emerging companies have the following focus areas:
  •  Eurogiro A/S. Responsible for worldwide network coverage and customer management. The responsibility for current customers and contractual business partners will be continued in this company. Chairman of the Board: Mr. Henk Kruidenier, Chief Executive Officer Mr. Søren Rose.
  • Eurogiro NCIP A/S. Responsible for the offering of new, multilateral remittance solutions for large banks and payment operators. Chairman of the Board: Mr. Paul Camp (Deutsche Bank), Chief Executive Officer: Mr. Tjeerd Rienstra
  • Eurogiro Solutions A/S. Responsible for IT services and system infrastructure. The company is also responsible for operational standards and procedures as well as the security. Chairman of the Board: Mr. Tjeerd Rienstra (Eurogiro Holding A/S), Chief Executive Officer: Mr. Uwe Holmsgaard
" The main benefit of the restructuring is the transformation from a closed membership structure into an open group structure, where all financial institutions could join “, said Tjeerd Rienstra, Chief Executive Officer of Eurogiro Holding A/S.
 
About Eurogiro
Eurogiro is a commercial company that actively promotes and catalyzes bilateral and multilateral business opportunities among its customers in retail financial services and wholesale banking worldwide with the aim to constantly add business value to the whole Eurogiro community. The network currently comprises more than 60 postbanks, postal organisations, banks and contractual partners. 
 
Press contact
Tjeerd Rienstra
Phone: +45 43 71 27 72

 

Eurogiro's view on SEPA

PDF Print
Saturday, 09 February 2008 13:52

Eurogiro's view on SEPA


Interview with Mrs. Annelise Lysdal, Eurogiro, on Eurogiro's view on SEPA
 
News from FEDAch, Q1 2008 
 

IBS Interview with Eurogiro Chairman

PDF Print
Tuesday, 01 January 2008 13:33

International Banking Systems, Dec 2007/Jan 2008


Click here to read the entire interview with Mr. Dirk Berensmann on Eurogiro's mew strategy