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III international conference on “Markets for money transfers , bank metals and cash currency”

III international conference on “Markets for money transfers , bank metals and cash currency” International Money Transfers and Payments system CONTACT – innovations and development Kiev, Ukraine 20 May 2011. Igor A. Efremov Vice President, JS CB RUSSLAVBANK (CJSC) (Russia).

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III international conference on “Markets for money transfers , bank metals and cash currency”

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  1. III international conference on “Markets for money transfers, bank metals and cash currency” International Money Transfers and Payments system CONTACT – innovations and development Kiev, Ukraine 20 May 2011 Igor A. Efremov Vice President, JS CB RUSSLAVBANK (CJSC) (Russia) www.russlavbank.com www.contact-sys.com

  2. JS CB RUSSLAVBANK (CJSC) is the organiser and the Clearing Center of the CONTACT system • general banking licence No 1073 dated 05.12.1990. • being a universal bank, it has all licences issued by the Bank of Russia. • over 2,100 operating correspondent LORO accounts. • was twice awarded by Deutsche Bank for the quality of settlements “USD STP Excellence” (2005-2009) and “EUR STP Excellence” (2009). • one of the largest participants of SWIFT in Russia, member of the RosSWIFT Committee. • participant of SWIFT Workers’ Remittances Users’ Group (WRUG). • the only Russian bank that is certified to prove compliance with requirements of SWIFT Worker’s Remittances live services. • in 1999 established the CONTACT international Money Transfers and Payments system that is based on the correspondent banks network. • As at today CONTACT is the oldest and largest in Russia network of bank outlets which provide the money transfer service. • The quality management system of the CONTACT Clearing Center fully conforms to the international standard ISO 9001:2008.

  3. Global money transfer market Trends in the major financial flows in the world in billions ofUSD Foreign direct investments (FDI) Indebtedness of natural persons and investment portfolio Volume of money transfers in the world Official Development Assistance(ODA) Source: World Development Indicators (September 2010), Global Economic Monitor, Migration and Remittances Factbook 2010 Money transfers show the most stable dynamics

  4. Weight of money transfers for economy of developing countries Top-10 countries of the world by the volume share of received transfers in GDP % of GDP, 2009 Источник: Migration and Remittances Factbook 2010 Money transfers make a notable contribution to the economy of developing countries

  5. Money transfer market – Servicing institutions Retail money transfers area Banks Local remittance companies Network banks International remittance companies International banks Mails Mail alliances 1999 is the first year of CONTACT operation. To date, there are 17 money transfer systems in Russia.

  6. Money transfer systems – keys to success $ Financial success, popularity of the brand Geography of presence Innovative technologies Customer value of product Strategic partners System organising team (business, IT, marketing, attraction, support, settlements)

  7. Keys to success – Customer value of the “Money transfers” product Product features For consumers (individuals) For partners Product line Service availability Registration time Delivery time Market tariffs Participants’ profit

  8. Keys to success –Customer value of the “CONTACT Money transfers” product Product line extension cash-2-cash cash-2-account account-2-cash Money transfers between individuals from 1999 mobile communication and Internet providers loan repayment electronic ticketing others from 2004 Payments within Russia mobile communication and Internet providers loan repayment crediting to bank accounts others from 2007 Cross-border payments Over 1200 CONTACT payment products

  9. Keys to success –Customer value of the “CONTACT Money transfers” product Product line extension «CONTACT-ACCOUNT» Money transfers to be credited to accounts of individuals in any bank of Russia, the USA and Europe fast beneficial convenient Country Transfer currency Customer’s commission Your commission Russia RUB • indicate the bank code and the customer’s account number • without commission of intermediary banks • useof CONTACT’s standard software within current banking day 0.7% 0.67% + 60 RUB USA USD up to 24 hours 0.5% European countries* EUR up to 24 hours 0.5% * Austria, Belgium, Bulgaria, Great Britain, Hungary, Guadeloupe, Germany, Greece, Denmark, Ireland, Spain, Italy, Cyprus, Lithuania, Luxemburg, Mayotte, Malta, Martinique, Monaco, the Netherlands, Norway, Poland, Portugal, Réunion, Rumania, San-Marino, Saint Pierre and Miquelon, Slovakia, Slovenia, Finland, French Guiana, Czech, Switzerland, Estonia Unified technology platform CONTACT

  10. Keys to success –Customer value of the “CONTACT Money transfers” product Product line extension Distributors Clearing Center Providers Offices Self-service terminals Banks • Banks • Loan repayment • account replenishment Financial settlements Individual customers Offices Payment agents Self-service terminals Information flows Legal entities – non-bank institutions Offices Mails Call-Center, consultancy and investigation Remittance companies Offices Agents EcosystemCONTACT

  11. Keys to success –Geography of presence • The main tasks the organisers of money transfer systems have to tackle: • Expansion of geography of presence, • Increase in the market share in the key corridors, • Condensing the network in the major sendign and receiving countries, • “Step-by-step availability” of the service.

  12. Keys to success – Geography of CONTACT presence Number of participating banksNumber of bank offices Russian banks International banks and companies Bank offices in Russia Bank offices abroad CONTACTtoday Russia CIS, Georgia, Baltics Non-CIS states 7,700+ offices 550 banks 11,000+ offices 180 banks 80,000+ offices 90 banks &companies countries

  13. Keys to success – Geography of CONTACT presence The largest connections in Q1 2011 Banks / companies countries Number of offices PRC Spain Spain Italy UAE Q1 2011– the network expanded by 36,000+ service offices

  14. Keys to success – Geography of CONTACT presence Market share in some strategic cross-border transfers corridors (Q4 2010) to Russia from Russia Из Европы Из стран БЗ* В Европу В страны БЗ* from Europe from the NA* to Europe to the NA* Источник: РУССЛАВБАНК, Банк России, 2011 Source: RUSSLAVBANK, Bank of Russia, 2011 * NA – the near abroad (the CIS countries, the Baltics and Gergia)

  15. Keys to success – innovative technologies Innovations in the world: from practice to standards Innovative technologies Organisations that elaborate standards and recommendations Mobile payments New formats of interbank exchange of transfers of natural persons (Worker’s Remittances) * Mobey Forum is a non-commercial international organisation aiming to create a stable and prosperous ecosystem of mobile financial services. The organisation unites world leading banks with the total number of customers of over 450 million people as well as providers of mobile payments and leading manufacturers of mobile and payment devices. The participants of Money Forum are such world leading retailing banks as ABN-Amro, Bank of America, BBVA, BNP Paribas, Danske Bank, Deutsche Bank, DnB NOR, Garanti bank, HSBC, ING Bank, la Caixa, Nordea, PostFinance, RBS, UBS, Rabobank. The standartisation is a safe and proven method of enhancing the quality of innovative solutions and reducing their integration costs

  16. Keys to success – innovative technologies For individual customers – availability of service, variety of ways to send transfers For servicing institutions – standartisation and unification of interbank exchange formats Step-by-step availability – ATM, self-service terminals New formats of interbank exchange of transfers – SWIFT Worker’s Remittances Service availability 24 x 7 x 365 – Internet-banking, Mobile Banking, Mobile payments/transfers Unified XML message formats transmitted through WEB-service • Single technological platform CONTACT NG Technology – XML-platform that includes: • Web-service; • Front-office software for CONTACT NG banks; • API for integration of all CONTACT services into any ABS, ATM and serf-service terminal software, Internet and mobile banking.

  17. Keys to success – innovative technologies CONTACT Platform CONTACT NG is the technological base for the CONTACT ecosystem JS CB RUSSLAVBANK (CJSC) – Bank for settlements and the CONTACT Clearing Center CONTACT NG Technology application server CONTACT NG Technology integration platform CONTACT NG Technology integration platform AIS CONTACT NG (front-office) AIS CONTACT NG (front-office) CONTACT NG Technology integration platform Own software Own software Own software Distributors’ offices Remote banking services Self-service terminals Providers Individual customers

  18. Keys to success – innovative technologies Ways of sending payments (all-Russia NAFI survey, April 2011) Internet bank by e-money From a mobile phone by card via the Internet at a store cash-desk through mobile communication salons via mail POS-terminals bank outlets Источник: НАФИ, Апрель 2011 Remote banking, e-money and bank agents provide the potential for growth

  19. Keys to success –strategic partners Strategic partners Benefits for MTSs Distributors – high street banks and large remittance companies Considerable increase in points-of-customer service Increase in the payment products number, clientele growth Providers – banks and legal entities Vendors – Banking software developers Reduction of costs for system services integration when connecting new participants and supporting the existing ones

  20. Keys to success and popularity of the CONTACT brand Growth of cross-border transfers volume in the Russian Federation inQ1 2003 Разы CONTACT All systems Источник: РУССЛАВБАНК, Банк России, 2010 Source: RUSSLAVBANK, Bank of Russia, 2010

  21. The bottom line • The constant product line extension allows the System to attract new customer categories to offices of partner banks. • The expansion of geography of presence, increase in the market share in the key corridors, condensing the network in the major sending and receiving countries ensures the steady growth of the volume of CONTACT funds transfers. • Implementation of innovative technologies and integration solutions makes the System service much easier accessible to end-users, provides its availability 24 x 7 x 365 and allows to cut costs of executing operations for partner banks. • Successful and mutually beneficial cooperation with strategic partners – banks, service providers, software developing companies, remittance companies – gives good grounds for the dynamic growth and rapid technological re-equipment of the System.

  22. RussiaUkraine transfers: positive dynamics Annual volume of money transfers from Russia to Ukraine in millions of USD CONTACT Other systems Источник: РУССЛАВБАНК, Банк России, 2011 Source: RUSSLAVBANK, Bank of Russia, 2011

  23. Q u e s t i o n s ? Igor A. Efremov Vice President, JS CB RUSSLAVBANK (CJSC) (Russia) www.russlavbank.com www.contact-sys.com

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