western union digital transformation

<br><br>My Leadership Philosophy<br><br>I am an . Provide value consistently every month and deliver new value and capabilities. Western Union's digital transformation - Think with Google Please enable Javascript to see this feature. . Thats changing. ene. In a report on ERP modernization, the global market intelligence firm highlights how Western Digital . Western Union video | re:Invent 2021 | AWS 2023Western Union Holdings, Inc. All Rights Reserved. We set up virtual war rooms, met with our executive team daily to strategize, and spoke to customers every week to keep a pulse on their needs. Banco Santander Consumer Portugal Adopts OutSystems as its Digital Transformation Platform. The Future of Payments is Invisible | CIO From the earliest days of the pandemic, innovating the companys services to meet new patterns of consumer demand was an urgent matter. Driving Western Union's Tech Transformation | by Digital Bulletin . And its not something you can achieve really quickly, its a multiple-year process. Poland followed later in 2022, while plans are at hand to launch Italy by the end of the year. We started function by function, looking at individual deployments across our different groups in the company. The Foundation is supported by the Western Union Company, its employees, Agents, and business partners, working to support education and disaster relief efforts as pathways toward a better future. How Western Union Became a Global Digital Front-Runner for Cross-Border [2] Westar 1, Wikipedia, accessed April 2018. few clicks, you can use OutSystems to bring your visions to life. Western Union Digital Banking - Apps on Google Play Digital transformation in Western Union must be driven from the top-down. OutSystems High-Performance Low-Code Platform Powers Western Union Digital Banking Solution 2 min. The pandemic really accelerated the digital transformation journey; the plan was for it to be rolled out in three years but that timeframe became 18 months. Maybe it started out as more of a push, where we were looking to come in and work with a team. Secure, touchless, digital money transfers were a safe, reliable way for people to send funds where they needed to, so we leaned in there. Western Union Embraces Digital Transformation - BaselineMag.com How do you start there and end up with a fully embedded transformation across a company of 12,000 people? Western Union's Customer Journey Digital Transformation Fueled by NICE - Innovative NICE Nexidia Customer Journey Optimisation provides powerful analytics to enhance customer experience. Not just front-end, but back office and our contact center. Our research identified 10 attributes of an organizations data infrastructure that enable it to take full advantage of the data economy, the global supply and, Editors note: This is part of a series about the data economy. Management, Digital Workplace Snowflake: What do you see changing now that your organization is better able to share data? Digital transformation of journalism and media in Serbia: What has gone A lot of our big data environment is still on-prem and the mission is to move that completely to the cloud by the end of the year. These strategies are paying off. So, constant iteration and rapid delivery are crucial. Today, structured and semi-structured data can easily coincide. After the catastrophic explosion in Lebanon in 2020, the two companies worked together to build data pipelines to help those affected by the incident and provide support to agents in the area. 8 (Managing the Strategy Development Process). In 2017 SEED supported 20 projects, impacting 5,000 children and youth; we hope to support event more in 2018.. McKinsey's Kausik Rajgopal and Lang Davison recently sat down with Western Union's CEO to talk about its multicultural customer base (and . Cloud services such as cloud data platforms have become cost-efficient, high performance calling cards for any business that leverages big data. Navigate Western Union now has more than 550,000 agent locations in more than 200 countries. Divestiture Will Support Western Union's Strategic Focus on its Global Cross-Border Payments Platform and Digital Capabilities Africa, South Western Union digital integrates UAE Pass - Gulf Business Youre expected to come up with new ways of innovation to drive revenue growth across the organization. In the past, JSON storage and analysis required specific JSON databases. Because if you dont have the right data, your applications will struggle to provide the right business outcomes and customer experiences. Teams that may not previously have interacted with each other are now doing floor walks with each other. Swanback said a . We will expand our Messenger bot to other countries and add other languages, he adds. We developed the whole front-end for the app in less than four months., Western Union uses OutSystems for customer-facing apps, back office, and workflow solutions. Manager of a Team responsible for First Level Support, Event monitoring and Major Incident Management to internal and external clients that affects core processes and clients. In 2017, Western Union invested $200 million and 20% of its workforce on compliance functions. The Western Union Way of digital transformation. (2017) Monitoring Media Pluralism in Europe: Application of the Media Pluralism Monitor 2016 in the European Union, Montenegro and Turkey. It works with Talend to streamline data movement in compliance with GDPR across financial, reconciliation, auditing and trading partners. Achieving that is going to give Western Union agility, stability and resilience and allow us to focus on product development, because we know that our technology is going to sit in the cloud and take up a lot less of our time. Top retailers use AI-powered campaigns to engage their most valuable customers. Western Union has had a compound annual growth rate above 25 percent over the past five years, since the launch of the digital division. The pandemics economic stressors created a situation where more people suddenly needed to send money to family and friends around the world, many of whom rarely use financial services. Since 2008, Huawei has offered a wide and expanding range of . Africa's largest payment gateway, MFS Africa, has partnered with Western Union to enable individuals and businesses across the continent to receive money from over 200 countries and territories. Western Union (NYSE: WU), a global leader in cross-border, cross-currency money movement and payments and Zain Cash, the award-winning mobile financia . Fellahi sees the Messenger bot as a promising tool. Prior to implementing Snowflake in 2021, Western Unions data spanned 34 on-premises data warehouses, resulting in latency and operational burdens. In the same way that they say it takes a whole village to raise a child, it takes an army of people with the right skillsets and approaches to undertake a challenge like this. The strategy is also to reduce costs; on-prem infrastructure and people running it is expensive and you need back-ups of everything, especially in financial services. It&#39;s a physical branding and marketing component that few money-transfer providers can match but one that&#39;s of diminishing value in a digital world. Media, Madison Square Instead, Western Union should fund and fully staff a separate unit that has preferential access to Western Unions resources, but is not restricted by legacy operators within Western Union. Leadership Team - Western Union | Corporate The Data Cloud is increasingly becoming a facilitator for digital transformation initiatives, and while there are many facets to that story, our customers often tell us how three critical elements play a central role: being able to access and share live data; being able to share data without having to move it; and the ability to securely access third-party data. We believe in the work we do, why we do it, and who we hire to get it done. We wanted plug-and-play convenience to integrate any technology.. Singh was given autonomy to mould his teams, combining the skills already at Western Union with external talent, many of which were from a consulting background, resulting in a diverse and varied team, which he says proved invaluable. Western Unions platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies and 500K partner networks. We built the Western Union Way team, or the WU Way team as we call it, with ten high-potential individuals from around the company. But you say its about more than technology? This does have privacy implications and hence needs to be vetted out with regulatory authorities around the world. There were definitely times I was looking at costs and thinking how I was going to explain to finance, or my CFO, he says. [11] Western Unions footprint of retail locations gives it a worldwide laboratory for experimenting with blockchain applications. Western Union: New Thought Leadership Status in Digital Cross-border Western Union has gained a comprehensive view of the customer while running the Data Cloud on AWS. Others see blockchain as an opportunity to help emerging governments become efficient and transparent, for example, by serving as the official land title registration. Meridian, Infosys . . Western Union launched its digital banking app in Germany and Romania in Spring 2022, following 11 months of iterative development. Not satisfied with the idea of incremental change, the company took a start-from-scratch approach, assembling an experienced team and transforming its infrastructure. It requires a change in process and culture, the adoption of a common lingo, executive buy-in, and a center . Digital transformation starts with people, which is a useful reminder that . Finance. Product Director, United States Money Transfer. Funds can be picked up in cash at half a million Western Union agent locations worldwide or transferred electronically to the recipients bank account or to a debit card linked to a digital wallet. One of our most important tools is the floor walk. Learn what is a data platform, which encompass a range of elements required to support the data management cycle. Hospitality, Waste People who knew how a team or a group worked before can come in and see its night-and-day different. A hugely significant piece of the transformation has come from rethinking how Western Union communicates with its vast customer base. To that end, Singh has built on an existing relationship to forge a highly valuable partnership with Salesforce and oversee the roll-out of its industry-leading Marketing Cloud. Western Union Uses AWS to Create Company-Wide Digital Transformation. The new generation of customers, especially Millennials, want to find us in the ecosystem of messaging apps.. today more than 65% of Western Union's digital transactions originate on a mobile . It's a physical branding and marketing component that few money-transfer providers can match - but one that's of diminishing value in a digital world. Western Union International Bank GmbH is regulated by the Financial Markets Authority in Austria, [i] Agent location count valid as of 31 December 2017. The Essential Components of Digital Transformation Digital transformation in the EU | News | European Parliament Western Union is one of the largest digital money firms, uniquely positioned to connect the cash and digital worlds across platforms, devices, borders, and currencies. We see ourselves as becoming a FinTech that can move quickly while being sure that our infrastructure and processes allow us to work at scale. Manufacturing, Communication For decades, Western Union benefited from network effects as it added density and new geographies. How Western Union Became a Global Digital Front-Runner for Cross-Border Payments Money By Jay Jaffin, Head of Global Digital, Western Union May 24, 2021. We scored ourselves as an organization on these market-shaper practices when we started the transformation in 2016. Procurement & Construction, Financial Jay Jaffin was just starting his role as Western Unions chief marketing officer when the pandemic arrived. These are things like rewards and recognition, top-down innovation, and consequence management. Services, Public The company, which has been in the money-transfer business since 1871, launched online transfers via WU.com in 2000 and got into mobile money transfers in 2007. Western Union Software Purchases and Digital Transformation Initiatives So its a real imperative across the top of the organization. Our technology platform is founded on a Hadoop big data technology cluster that is used for conversion analysis, risk statistical modeling, payments and risk data processing, Fellahi explains. That means we can onboard new developers and have them productive much faster, and weve got fewer knowledge silos in the development team., Moreover, low-code development on OutSystems helps Tom fight back in the war for digital talent. Western Union is renowned for its unparalleled international network, with over 500,000 agent locations spanning 200 countries and territories. Part of this agility drive involved Western Union migrating its legacy on-prem IT infrastructure to the Cloud. The central transformation team helps do the capability building in training those resources up, and then they run their own scaled-out deployment. Increasingly, digital technology and mobile devices play a key role in these transactions. Now data is the driver and applications are being developed to handle that data and represent it to business stakeholders to make it consumable. Western Union and Zain Cash Collaborate to Facilitate Digital Cross Were talking 30 percent, 40 percent, and, in some cases, deployments with a 70 percent return on capacity. Western Union can leverage such physical presence to win this new innovative space. That allowed us to go from ten people to about 50 change agents in the first wave, which will be able to support 2,500 employees and 4,000 vendor full-time employees within two years. Data privacy and security practices . Arab Emirates. Similarly, Western Union's ethos is based on empowering the aspiring populations of the world with accessible financial tools to improve the lives of their loved ones and communities. As mobile payments and blockchain tech challenge the status quo of cross-border money transfers, Western Union must digitally transform itself at the right pace or risk going the way of the telegraph. . . But theyve been hugely supportive and as weve hit milestones, such as moving significant infrastructure completely to the cloud or achieving significant savings with the Marketing Cloud, we have built that business case. Mazzaferro: In the past, the thinking in the industry has often been that applications are king, and that data flows through the applications. [2]But today, new technologies are threatening Western Unions entire business model. Many CEOs are lured into spending too much time on legacy businesses, which dont need CEO oversight. UnionBank: Blazing Digital Trails in the Philippines and Beyond Western Union Partners with MFS Africa to Enable Money Transfers into [7]For a helpful overview of how Blockchain is being used in emerging markets, see Vinay Gupta & Rob Knight, How Blockchain Could Help Emerging Markets Leap Ahead, Harvard Business Review, May 17, 2017. [9]Western Union recently dipped its toes into blockchain. The EU is helping to boost Europe's digital capacities and create new opportunities for businesses and consumers while safeguarding basic rights. Meanwhile, innovators like Ant Financial(China) and M-Pesa(Kenya) are leveraging high mobile penetration rates in emerging markets, and are beginning to experiment with cross-border money transfers. In addition to our digital banking app, there are at least 20 internal employee-facing apps that weve delivered that make work easier and more efficient for our employees., Asked what differences he sees in the development team, Tom says, With OutSystems, weve got a more cohesive and multi-talented development team because were using visual low-code development thats self-documenting. The relationship with Talend has enabled Western Union to help its global customer base in times of real need. People are asking us, Hey, can you come help me? Entertainment, Professional We offer consumers the choices they want, both for sending and receiving money, he stresses. be to drive digital transformation and . Pay for your transfer instantly with a debit or credit card** or start a money transfer and complete the payment in cash at a nearby agent location. They have also triggered profound changes within global banking, demanding that lenders remain flexible, nimble, and innovative in their digital-banking strategies to meet customers' rapidly . The CDO needs to drive digital transformation by enabling data to power product development and the company. . MFS Africa partners Western Union to broaden financial inclusion In order to fund the investments, we decided that it was really important to do a transformation exercise, look for ways to gain efficiencies and effectiveness across our processes and procedures, and then use those efficiencies to fund the growth investments. Increasingly, digital technology and mobile devices play a key role in these transactions. Though its too early for results, the response from consumers has been positive, he says. The transformation of Western Digital to a Live Enterprise Modernization of legacy enterprise resource planning (ERP) applications provides an opportunity for a technical upgrade as well as a transformation of the core business, according to IDC. The difference with OutSystems is that we can do that fast and at scale, deploying experiences that are fast to load, reliable, and secure. Sydney Mahan, The First Transcontinental Telegram was sent to DC 155 Years Ago, Washingtonian.com, Oct. 25, 2016. 2021. Western Union Google Pay Integration: Interview With Vice - Monito Having found great success with its Marketing Cloud, Singh outlines his longer-term vision to connect a number of Western Unions central products. Their bread and butter business is charging hefty fees on remittances and their core advantage was a network of retail outlets and agents across the US and partners around the world to get cash from one family member to another. Experienced and certified (ACAMS) AML and Learning & Development professional with a proven track of records in compliance, people management, learning areas. The aim of this paper is to sketch a brief history of complex digital transformation of media and . Each quarter our research team identifies on-prem and cloud applications that are being used by the 11000 Western Union employees from the public (Press Releases, Customer References . Dr. Hosam AbouElDahab on LinkedIn: Western Union and Beforepay Offer 2023 Snowflake Inc. All Rights Reserved | If youd rather not receive future emails from Snowflake, unsubscribe here or customize your communication preferences, Snowflake for Advertising, Media, & Entertainment, unsubscribe here or customize your communication preferences. Poland followed later in 2022, while plans are at hand to launch Italy by the end of the year. [5]. Second, Western Unions employees may not have the knowledge or training to effectively lead Western Unions digital transformation, and may resist digital initiatives or operational changes. Western Union Announces Agreement to Sell Western Union Business If any of these should fit what you're looking for, consider exploring a career with Western Union. Western Union: Reimagining a Financial Services Leader Meanwhile, new fintech players like Transferwise are able to offer cash transfer services for a fraction of the price since their operations are 100% online. Packaged Goods, Engineering . To address this new competitive landscape, Western Union sought an agility boost to accelerate innovation. Mohua is a marketing leader with over 15 years of experience in building and leading brands across industries. We caught up with Mazzaferro to dive deeper into how the Data Cloud enables ongoing digital transformation at Western Union: Snowflake: Tom, as CDIO you lead the charge on keeping Western Union at the forefront of data economy leadership.

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