FS Special Edition 2017 - 26

26
and fraud. As the regulatory environment has
gotten more complex, we've also introduced
new technology-enabled capabilities around
compliance. The financial technology sector is a
white-hot area of interest and investment today,
so we're also making sure that we continue to
lead with our innovative offerings-disrupting
ourselves in an industry full of potential
disrupters.

THE IMPORTANCE
OF BEING VIGILANT
Western Union is the largest global money
transmittal company. Our advantage is our
major footprint around the world and our
experience in technology innovation. But we
know that no company can rest easy in the
digital age.
There are a lot of folks who are very interested
in the business we do. For example, Western
Union operates in 17,000 money transfer
corridors around the world, where migrant
workers send money home to their families, such
as the U.S.-Philippines corridor or Saudi Arabia
to India. Our closest digital competitor operates
in just 35 of those. But we do have rivals for our
most profitable corridors. There are upstarts
coming at us with a different experience or
attempting to undercut us on price. We still
have a competitive edge because of the value
we offer and a brand that customers trust.
But we have to be very vigilant and make
sure that we remain focused on delivering a
differentiating customer experience, staying
competitive on price and value, and remaining
ahead of the curve with the technology we use
to interface with our customers

One area we've been investing in is "staging"
technology that enables a customer to stage
a transaction and get it ready to go digitally.
They then have the choice to complete the
transaction physically in a retail location or
complete it online. We're also enabling many
different payment types in our platform. If a
customer in Germany wants to use the local
payment platform Sofort, we're enabling it.
And we're offering that kind of choice on the
receiving side as well; you can choose to receive
the transfer through your mobile wallet or direct
to your bank account or in cash. Continuing to
introduce those features and functionality is
what's allowed us to remain the number one
player in our game.

We have to be very vigilant and
make sure that we remain focused
on delivering a differentiating
customer experience, staying
competitive on price and value, and
remaining ahead of the curve with
the technology we use to interface
with our customers

IF YOU BUILD THE
PLATFORM, THEY
WILL COME
If you want to send $100 to someone within the
U.S., that's a relatively easy transfer to make.
There's very little regulation. It's a low barrier
to entry. And that's where we see a lot of noise
and activity in the marketplace.
But that's not where the biggest challenges
are-and the biggest challenges lead to the
biggest business opportunities. Cross-border
transactions are where we can provide the
most value, and as head of operations and



Table of Contents for the Digital Edition of FS Special Edition 2017

Contents
FS Special Edition 2017 - Cover1
FS Special Edition 2017 - Cover2
FS Special Edition 2017 - 1
FS Special Edition 2017 - Contents
FS Special Edition 2017 - 3
FS Special Edition 2017 - 4
FS Special Edition 2017 - 5
FS Special Edition 2017 - 6
FS Special Edition 2017 - 7
FS Special Edition 2017 - 8
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FS Special Edition 2017 - Cover3
FS Special Edition 2017 - Cover4
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