“Golden Crown – Money Transfers”: Results of the first half-year of 2013
According to the results of the first half-year of 2013, the turnover of the “Golden Crown – Money Transfers” service has made 222 billion rubles, which has exceeded the volume of the same period of 2012 by 43%. The scope of intra-Russian transfers has increased by 75%, the scope of cross-border transfers has increased by 35%. The system has added 49 new partners, and the number of points of service newly connected to the system has made 7.5 thousand, which provided a 20% chain growth.
The most rapid growth has been shown in the area of internal money transfers (Russia-to-Russia corridor): over the six months of 2013 the growth has made 75% as compared to the same period of 2012. According to the estimations of CFT Group analysts, the capacity of this segment of the money transfer market is compared to the one of the cross-border transfer market (today around $20 billion per year). Traditionally, the major part of this market has been divided among the players with large-scale service point chains.
The importance of the branching of the service point chain for the money transfer market is proved by the customer behavior survey carried out by order of the analytical department of CFT Group: 67% of those surveyed first of all pay attention to the closeness of the point of service to their work or home; the second important criterion is the fee amount (54%). “In order to sweep a significant share on the intra-Russian transfer market, a company first of all needs a broad service network. At present our System comprises 25 thousand points in Russia and is in these terms the second biggest market member. Add the instantaneity and addresslessness of our transfers plus available rates, and you’ll get the “Golden Crown – Money Transfers” service, one of the most attractive services for the customer. Considering that the average transfer amount using the Golden Crown system is 46 thousand rubles, this service is interesting to all Russian banks as in most cases the payer and the payee are residents of Russia and they automatically become prospective customers in terms of the main banking products: loans, deposits, cards,” comments Ivan Sitnov, Director of the “Golden Crown – Money Transfers” service, on the strategic position of the company in the market.
In the first half-year of 2013 the Service has added 49 new partners, among which are the country’s biggest banks: ROSBANK, BANK OF KHANTY-MANSIYSK, BINBANK, Sobinbank and other.
By the end of the first six months of 2013, in the Russia-to-CIS corridor the turnover of the “Golden Crown – Money Transfers” service has grown by 35%, which significantly exceeds the average market performance. To compare, according to the CBR the cross-border market growth over the five months of 2013 has made 18%.
Among the biggest partners in the CIS and Georgia is Azerbaijan national post network operator “Azerpocht”, due to which the Service network in Azerbaijan has grown by over 100 points and reached the number of 800. The network of acceptance and issue of Golden Crown money transfers in Georgia has extended by over one third due to connection of “Intel Express Georgia” microfinance organization that specializes in instant money transfers, and “Privatbank Georgia” bank.