ENGLEWOOD, Colo,.--(BUSINESS WIRE)--The Western Union Company (NYSE: WU), a global leader in cross border, cross currency money movement, today announced a unique collaboration between one of its U.S.-based subsidiaries, Western Union Business Solutions (USA), LLC and United Bankers’ Bank. The International Business Development program by Western Union Business Solutions encourages its financial institution clients to have a dedicated resource on staff that focuses solely on growing their international payments business which ultimately helps to grow non-interest income, retain customers, and acquire new customers.
“Western Union Business Solutions is a true payments engine for financial institutions,” said Western Union Business Solutions regional head of the United States Alfred Carpetto. “Having someone dedicated to international business development at United Bankers’ Bank that receives one-on-one support from a dedicated team at Western Union Business Solutions is a win for both organizations,” Carpetto said.
Western Union Business Solutions works with financial institutions to improve the revenue and retention potential of international payment services. No matter the size of an institution, Western Union Business Solutions offers the solutions and support to make their international payments programs world-class, allowing them to grow their international business, non-interest income and deepen customer satisfaction.
Late last year, client manager Douglas Featherstone spearheaded the creation of the International Business Development program at Western Union. Due to these efforts, United Bankers’ Bank announced implementation of the program and the hiring of John Beerling as Vice President of International Business Development. Beerling is also a veteran in the industry with more than 20 years of experience with international markets and foreign exchange.
“We believe having a dedicated resource to promote and sell our international payment services will help us to further meet the expanding needs of our customers and provide them with a competitive advantage in the markets they serve,” said John Peterson, Executive VP and Chief Marketing Officer for United Bankers’ Bank.
The International Business Development program will involve direct collaboration between Western Union Business Solutions and United Bankers’ Bank, focusing on untapping the significant revenue potential international payments represents to their institution and will serve as a pilot for future collaborations with financial institutions across the country.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2018, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2017, is available in more than 40 countries to move money around the world. In 2017, we moved over $300 billion in principal in nearly 130 currencies and processed 32 transactions every second across all our services. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.