Financial services : the way forward for Maltapost?

Abstract

The objective of this dissertation was to identify whether the introduction of a portfolio of financial services products was the way forward for Maltapost. Its intention was also to understand the type of customer that should be targeted for such Maltapost financial services. A survey, in the form of a questionnaire, was sent out to gather information from the Maltese public on the use of financial services in general and level of take-up that would prevail should Maltapost plc introduce a range of financial services in the near future. This was subsequently analysed, showing that Maltapost's customer base was predominantly the lower social strata of the population as well as the elderly. However, despite this, quite a varied range of customers would consider taking up financial services from Maltapost should these become available. For this reason, other types of financial services, normally targeted to the more affluent and educated sections of the population are also being proposed. This study also recommended, amongst other things, that the company's retail network be refurbished and enhanced security measures implemented; that the opening hours of the post offices be extended, that adequate training to its staff be carried out; and that the possibility of striking a partnership with an established local bank be studied in depth.