Tag: Republic of Ireland

Irish Financial Services Regulator issues licence to Postbank

Posted by | Apr 17, 2007 | |

The Financial Services Regulator has approved the award of a banking licence to Postbank, the joint venture retail banking service between the international financial services provider Fortis and the Irish postal service, An Post.
Announcing the news today Postbank said that the service expects to begin trading as early as next month. “Now that we are to receive our banking licence from the Irish Financial Services Regulator we can start to finalise our plans for market entry”, said Postbank CEO Margaret Sweeney. “We hope to be ready to begin offering products to the public within a few weeks.”

The JV said that the company is to be called Postbank.

Postbank will initially offer savings and investment products, expanding to provide full banking services including current accounts, loans, credit cards and internet banking by the autumn. Postbank will be represented in over 200 post offices to begin with and to expand through the Post Office network over the following 12-months.

Postbank expects to formally receive its banking licence within a fortnight after some final procedural matters have been dealt with, paving the way for a launch within weeks.

Postbank also announced two further senior appointments today. Maurice van der Putten is Chief Operations Officer. Maurice has spent the last 12 years working for Fortis in a number of senior positions. Prior to joining Postbank, Maurice held the position of Deputy Director Fortis Insurance Netherlands Life Insurance’s back office Robert Jan Van Pelt is Manager of Sales and Distribution. Van Pelt has held senior management positions within Fortis Retail Banking since 1990. Prior to taking this position Mr van Pelt was Head of Project Management in Fortis with responsibility for the project portfolio of Retail Banking.

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An Post deal to double 3’s top-up distribution

Posted by | Apr 10, 2007 | |

3, Ireland’s mobile media network is to double its distribution network for 3Pay top-up vouchers in a new distribution deal an agreement with An Post.

The An Post deal gives 3 access to 4,000 top-up outlets nationwide including 1,000 post offices nationwide.

“This is a significant agreement for 3 giving us nationwide distribution through An Post and its retail partners, massively increasing the places our customer can top-up,” said 3’s head of customer relations, Peter Cogan.

“Not only does this bring more convenience for our customers but also opens up valuable revenue streams for 3.”

Eddie Manning, channel sales manager at An Post welcomed the 3Pay deal, saying: “An Post has unrivalled customer reach through a unique retail network of post offices and PostPoint outlets. We’re pleased to now offer customers the 3Pay option, a fine addition to our suite of convenient, value-for-money products.”

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Fortis and An Post partnership will create 100 new jobs

Posted by | Apr 10, 2007 | |

The euro 112 million banking service joint venture between the international financial services group Fortis and An Post will begin to offer savings and investment products to the public by mid-year and will create 100 new jobs by the end of 2007, the partners said in an update today.

The operation, which is subject to the granting of a banking licence by the Irish Financial Services Regulator, will initially offer these products from a selection of post offices. The service will be rolled out across the Post Office network over the next 12 months. The initial savings and investment products will be followed in the autumn by a broader range of banking products including Internet banking and ATM facilities.

Commenting today, Margaret Sweeney, Chief Executive of the joint venture said: “Plans for the development of the new retail bank are progressing well. We expect to have an initial presence in a cross section of post offices by June and to complete the installation of our services network over the next 12 months. While our presence will vary among Post Offices depending on the facilities available, our target is to be represented in more than 200 Post offices initially and to extend across the post office network over the following 12 months.”

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Comreg says 85% of Ireland’s domestic post is business mail

Posted by | Apr 5, 2007 | |

The Commission for Communications Regulation (ComReg) today published the findings of its 2006 postal business and residential surveys. An Post, the Universal Service Provider, delivers over 750 million items each year. Approximately 85% of Ireland’s domestic post is business mail.

The key findings from the Business Survey, based on telephone interviews conducted with a sample of 600 businesses, show:

An increase to 20% in the number of companies who are opting to use other providers in addition to An Post.

An increase in the volume of post sent by businesses surveyed

An average spend on postal services with An Post of EUR8,019.

Nearly half expressed satisfaction with the postal service in Ireland. Among the lowest satisfaction scores were the length of time An Post takes to deliver letters and the clarity of information available on postal services provided by all providers.

The key findings from the Residential Survey, based on structured questionnaire to a nationally representative sample of more than one thousand adults aged 15-74, show:

A reduction in the average amount of mail sent from 4.69 per week in 2005 to 3.06 items in 2006 and a reduction in mail items delivered to each home address from 9.36 in 2005 to 8.11 in 2006.

A good increase in the level of awareness of other postal operators from 30% in 2005 to 47% in 2006.

he frequency of mail delivery is well known with over a quarter claiming receipt of mail every day, and less than a quarter in receipt of mail 2-3 times a week.

Over two thirds of those surveyed expressed satisfaction with collection times and their mail delivery.

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ComReg publishes the findings of its 2006 Business and Residential postal surveys

Posted by | Apr 5, 2007 | |

The Commission for Communications Regulation (ComReg) today published the findings
of its 2006 postal business and residential surveys. An Post, the Universal Service
Provider, delivers over 750 million items each year. Approximately 85% of Ireland’s
domestic post is business mail.
The key findings from the Business Survey, based on telephone interviews
conducted with a sample of 600 businesses, show:
• An increase to 20% in the number of companies who are opting to use other
providers in addition to An Post.
• An increase in the volume of post sent by businesses surveyed
• An average spend on postal services with An Post of €8,019.
• Nearly half expressed satisfaction with the postal service in Ireland Among
the lowest satisfaction scores were the length of time An Post takes to deliver
letters and the clarity of information available on postal services provided by
all providers.
The key findings from the Residential Survey, based on structured questionnaire to a
nationally representative sample of more than one thousand adults aged 15-74, show:
• A reduction in the average amount of mail sent from 4.69 per week in 2005 to
3.06 items in 2006 and a reduction in mail items delivered to each home
address from 9.36 in 2005 to 8.11 in 2006.
• A good increase in the level of awareness of other postal operators from 30%
in 2005 to 47% in 2006.
• The frequency of mail delivery is well known with over a quarter claiming
receipt of mail every day, and less than a quarter in receipt of mail 2-3 times a
week.
• Over two thirds of those surveyed expressed satisfaction with collection times
and their mail delivery.
The full survey presentations ComReg 07/19a (Business Survey) and 07/19b
(Residential Survey) can be found on ComReg’s website at www.comreg.ie
ENDS
Issued ByTom Butler
Public Affairs Manager, ComReg
Ph: 01 804 9639 Mobile: 087 2536358

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