Western Union and Fidelity National Information Services have announced an agreement to offer Western Union global money transfer services to FIS' more than 8,500 banking institution clients throughout the United States. The signing of FIS is an important step in Western Union's North America "go-to-market" strategy to continue its expansion into the banking channel. As Western Union expands its service offerings, in an effort to strongly position money transfers to consumers, it looks to tap into consumer banking channels including: Cash-to-Cash, Account-to-Cash, and Account-to-Account.
"FIS is excited to offer Western Union's global money transfer service to our banking institution clients, adding strategic value to a bank's portfolio of services and convenience to consumers," said Anthony Ficarra, executive vice president, FIS eBusiness. "We see Western Union as a strong and strategic fit in providing our clients and their customers with the convenience of a well-established and strong Western Union Agent network to easily transfer money to family and friends."
"FIS is the number one provider of financial services technology to financial institutions," said Stewart A. Stockdale, executive vice president and president, The Americas for Western Union. "Our agreement with FIS is part of Western Union's new focus on identifying and driving the development of best-in-class services to expand the company's business to new consumer segments in the United States, especially through the banking channel. By entering into this agreement with FIS, both of our companies can help meet the prevailing need for banked consumers to have more efficient options to send money around the corner and the world. We look forward to providing the convenience of money transfers to FIS banking institutions and their customers."
Recently, FIS teamed with online financial application and payments provider Yodlee, Inc. and Western Union Payment Services to expand the value and capabilities of online bill pay for FIS customers and other leading financial institutions worldwide.