Western Union's digital transformation sprints to mobile Manufacturing, Information Services
Youre expected to find ways to optimize your processes and drive value. Western Union's platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies . Deloitte announces multi-year collaboration with AWS to co-innovate and engineer solutions that help institutions expedite the launch of digital banking services and modernize their legacy core banking stacks. This entails a leader or a manager being on the floor with people doing their day-to-day jobs, just observing the way they work. Jaffin: Our company mission is to enable financial transfers between people anywhere and everywhere; we had a responsibility to continue to deliver on that. COVID-19 has brought countless challenges, but its also caused us to focus all of our efforts around customers and reground ourselves in our mission. 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. Western Union Careers Patrick Gauthier, CEO of Convera, formerly known as Western Union Business Solutions. arrow_forward. Singh was brought in to help facilitate that leap, drawing on his expertise with business transformations, technology management, data architecture and collaborative working, backed up by various consulting roles at Deloitte, IBM and Accenture. . (2013) Comparing Media Systems beyond the Western World. 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. The Western Union Foundation is a separate charitable corporation that is tax-exempt under 501(c)(3) of the Internal Revenue Code, contributions to which are tax-deductible for US income tax purposes. We recently delivered a similar requirement to a higher standard using one OutSystems developer in just 15 days. The relationship with Talend has enabled Western Union to help its global customer base in times of real need. Safety starts with understanding how developers collect and share your data. Something we could take forward is a digital dollar, which we could make transferable all around the world with our vendors. Were talking 30 percent, 40 percent, and, in some cases, deployments with a 70 percent return on capacity. Western Union International Bank GmbH is regulated by the Financial Markets Authority in Austria, [i] Agent location count valid as of 31 December 2017. With the blockchain environment, there may be value in the technology as it becomes more mature and efficient. Imagine what we can do if you let us work with your team as well.. We scored ourselves as an organization on these market-shaper practices when we started the transformation in 2016. So youre really talking about game-changing differences between how processes worked before and after. (PDF-165 KB) The transformation of a legacy company whose roots lie in the era of the telegraph involves more than just lean deployments and agile methodologies. Commenting on the advantages of development on OutSystems, Tom says, "We estimate that we're getting new products . Jaffin: Western Union has a culture of innovating to meet customer needs, and the past 12 months have shown us that quick pivots can drive lasting change. My mission is to empower people to become economically self-reliant. Western Union Partners With MFS Africa to Enable Money Transfers Into Start Time: 16:30 January 1, 0000 5:32 PM ETThe Western Union Company (NYSE:NYSE:WU)Q3 2022 Earnings Conference CallNovember 01, 2022, 16:30 PM ETCompany ParticipantsDevin McGranahan -. To explore this content and receive communications from Google, please sign in with an existing Google account. Nduduzo Tshuma - Head of Information Technology & Digital Here are 4 steps they follow, Why durable solutions are needed to build the future of audiences, A data-privacy team can support your privacy transformation. He also praises Snowflakes adaptability when it came to dealing with huge capacity increases. After exceeding expectations in 2020 despite the outbreak of COVID-19, the world's largest currency exchange service Western Union looks set to exceed US$1 billion in total annual revenues for its digital business segment in 2021 a major milestone for the company and a first in the world of digital cross-border payments.. Western Union's shift toward digital shows little sign of relenting. In this video, Shelly Swanback, president of product and platform at Western Union, discusses the three key . Really understand the business stakeholders problem and how you can fix or enable it. We do that both in-line, so you as a manager go and visit your own organization, but also visit other functions. Although retail business declined during . Looking back at the results of our work over the last couple of years across all of our deployments, you see some really impressive gains. As the centerpiece of Western Unions omnichannel vision, the Western Union App is increasingly the primary touchpoint for customers: today more than 65% of Western Unions digital transactions originate on a mobile device globally. These initiatives will likely change Western Unions operating model, therefore they must be fully supported by CEO Hikmet Ersek and should occupy most of his time. Guide for Suppliers, Select
Reflecting on the transformation to-date, Singh is clear that it hasnt come without its challenges. Western Union must adapt to an increasingly mobile world: if Western Union doesn't develop low-cost mobile money transfers, Western Union won't be able to compete . How Western Union accelerated digital during the pandemic Western Uniona global leader in cross-border, cross-currency money movement and paymentsis driving a company-wide transformation, which includes migrating its infrastructure from on-prem to the Cloud. Since 2008, Huawei has offered a wide and expanding range of . Jay Jaffin was just starting his role as Western Union's chief marketing officer when the pandemic arrived. Western Union hiring Global Head, Customer Experience & Design in It is our responsibility to enable businesses, problem solvers, regulators and communities to leverage fintech for the betterment of lives. Teams that may not previously have interacted with each other are now doing floor walks with each other. We position ourselves as creating opportunity for financial inclusion by bridging gaps in the financial services sector. The fusion of the digital and the physical, the irrepressible rise of new technologies. Fellahi sees the Messenger bot as a promising tool. Its one of the most widely used platforms from a data perspective and were expanding our relationship with Talend to start using some of its data quality products as well. Western Union's digital transformation efforts may fail to drive earnings growth, but they may be enough to keep earnings steady going forward. 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. Technology, Industrial
Western Union is also focused on the global remittance market. Western Union video | re:Invent 2021 | AWS Western Union is to shed its Business Solutions unit, with investment firms Goldfinch and Baupost set to acquire the business for $910 million in cash. MFS Africa partners Western Union to broaden financial inclusion It has become one of the leaders in Extract, Transform, Load (ETL) technology and the majority of the data moving across our ecosystem is now powered by Talend. Dr. Hosam AbouElDahab on LinkedIn: Western Union and Beforepay Offer Western Union is the worlds first P2P company. Western Union and Zain Cash Collaborate to Facilitate Digital Cross Head of Information Technology & Digital Transformation Econet Wireless Zimbabwe Oct 2015 - Present 7 years 6 months. Western Union powers your pursuit. Media, Madison Square
Cash And Trade Magazine - For Cash and Trade professionals in the Denver, Colorado. Its not done from the perspective of correction or a negative consequence. Western Union's digital transformation sprints to mobile Stephanie Pankau - Product Director, United States Money Transfer Policy . Three things were front-of-mind as we evaluated OutSystems, explains Tom Mazzaferro, Chief Data and Innovation Officer at Western Union. The idea is to orient the company around improving these market-shaper practices, really getting the health of our organization strong, and becoming confident that if we can improve the health of the organization, the financial results will follow. 22 Companies Spearheading Digital Innovation in Their Industries in NICE have announced Western Union, a global leader in cross-border, cross-currency money movement, has advanced customer experience through improved . To accelerate application development, improve agility, and provide great digital experiences, the company chose OutSystems as its high-performance low-code platform. In 2011, Western Union opened an office in San Francisco to ramp up its digital operation. For example, in 2016 Western Union integrated money transfer options with messanging apps WeChat and Viber, allowing users to send small amounts of money through the apps. Top-down prioritization of digital transformation. The Transformation Story of Western Digital. Africa's largest payment gateway, MFS Africa, has partnered with Western Union to enable individuals and businesses across the continent to receive money Western Union is a partner of the World Economic Forum (WEF) and is a leading voice in the conversation of how to build a global payments ecosystem, which is stable and where remittances can be made much faster. Top retailers use AI-powered campaigns to engage their most valuable customers. This will enable the company to maintain its high . My Career Summary Anil Santhapuri is a values-based and results-oriented Talent professional, with 20 years of professional experience in the areas of talent management, learning & leadership development. "As a digital enabler and a pioneer in the digital transformation, we aspire to play a vital role in the vision of the Saudi . UnionBank: Blazing Digital Trails in the Philippines and Beyond To address this new competitive landscape, Western Union sought an agility boost to accelerate innovation. Filipino workers abroad), they need to bring physical money somewhere, and most of the fintech companies in remittance space dont have their own channels (they often partner with local kiosks). The new generation of customers, especially Millennials, want to find us in the ecosystem of messaging apps.. Learn about JSON storage. As such, when Western Union embarked on its technology transformation, it was keen to recruit personnel who could help achieve its vision. 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. Western Union Google Pay Integration: Interview With Vice - Monito Discover how Santander Consumer Finance replaced 70% of their core IT systems in three years with OutSystems. [1] The first transcontinental telegraph was sent on October 24, 1861, from the Chief Justice of California to President Abraham Lincoln. ene. Western Union's digital transformation - Think with Google An undisputed leader in the global payments space, Western Union is driving a company-wide technology transformation, underpinned by migrating its infrastructure from on-prem to the cloud. We go where our customers go, says Khalid Fellahi, senior vice president and general manager for Western Union Digital, based in San Francisco. 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. The Baupost Group is a $31 billion Boston-based investment firm. Western Union Embraces Digital Transformation - BaselineMag.com Management, Digital Workplace
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Mazzaferro: In the past, the thinking in the industry has often been that applications are king, and that data flows through the applications. We're making content recommendations better for thousands of readers. Western Union is renowned for its unparalleled international network, with over 500,000 agent locations spanning 200 countries and territories. Many of its 150 million customers worldwide depend on money transfers to pay for food, electricity, medication, and other necessities. Though its too early for results, the response from consumers has been positive, he says. That helps us refocus on the particular market-shaper practices that we need to double down on in order to continue improving during our transformation journey. Many CEOs are lured into spending too much time on legacy businesses, which dont need CEO oversight. Snowflake worked with Longitude to assess what it takes to lead in the data economy. What we are talking about is not cryptocurrency, it is not something that has to be mined. Digital transformation in the EU | News | European Parliament To learn more about the data economy, what your organization stands to gain from using data effectively, and how to become a Data Economy Leader, download the report overview, How to Win in Todays Data Economy. But its really all about allowing the manager to observe the way their employee works, whats easy about that job and whats hard about that job. Our App has grown to become one of the industrys most widely used international money transfer apps and a Top 20 finance app in the App Store., Not at all. Digital transformation in the EU. Western Union Advances Its Digital Growth Strategy With Investment in Western Union Digital Banking is offered by Western Union International Bank GmbH. Rica, Hong
Western Union Launches Two Digital Banking apps in 11 Months For more than 170 years Western Union has been helping people send money all over the world. My role was to bring all of these different teams together and instil a culture that recognised it wasnt just about how fast we were going, but also about the quality of the product were delivering.. Singh describes the team he assembled as being super-powerful, and says he often refers to it as his three-in-box strategy, owing to the various areas for which he recruited. This aims to support the transition of the region into a digital economy and bring the benefits of digital transformation, such as faster economic growth, more jobs, and better services. While the pace of change has been considerable, the leadership team at Western Union has been focused on implementing a large-scale technology transformation. 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. Product Director, United States Money Transfer. The way we approached it was to use the central WU Way team for capability building. 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 Western Union Foundation is actively supporting NGOs that help refugees and migrants around the globe through education and financial literacy. We have a lot of great ideas in terms of investments to drive that topline revenue growth, but we needed ways to fund those. Hospitality, Waste
And that could be at an operation site or it could be more of a frontline thing like a sales executive. Tom Mazzaferro, Chief Data Officer at Western Union together with Nick Halsey, CEO at Okera talk about the technology that Western Union has adopted to help build new products and Western Union, Chief Data Officer: Digital Transformation Initiatives (Part 3) | Cloud | cdomagazine.tech This does have privacy implications and hence needs to be vetted out with regulatory authorities around the world. [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. Sector, Travel and
InsurTech & Crypto projects as the world embraces CX, Business Transformation and Digital . The second aspect is our agile work, where we spin up teams that have learned and are now experts in using agile methodologies for product launches or IT development. Now its more pull. While Singh and his team have been occupied with the technology transformation taking place at Western Union, the breakneck speed at which the financial services and payments industry is changing means they also have to be planning for the longer-term. Knowledge Institute, Chemical
On March 1, Huawei held a "Digital Leadership Seminar" during Mobile World Congress (MWC) 2023 in Barcelona, Spain, attended by more than 60 high-level customers from global carriers, government enterprises, and KOL. From the CEO down through his executive team, you see a real commitment to this transformation exercise and a real commitment to finding ways to optimize our processes, to get efficiencies, and to fund those investments that will drive topline revenue growth. 2023Western Union Holdings, Inc. All Rights Reserved. [11]See generally Rebecca M. Henderson & Kim B. Clark, Architectural Innovation: The Reconfiguration of Existing Product Technologies and the Failure of Established Firms, Administrative Science Quarterly Vol. Leading fintech, Mambu, provides the platform and engine that drives the core of Western Union's new digital bank. Its more about having the manager understand how the work actually gets done on the floor. Secure, touchless, digital money transfers were a safe, reliable way for people to send funds where they needed to, so we leaned in there. Its in our DNA to think about global operations because Western Union covers the world.. People who knew how a team or a group worked before can come in and see its night-and-day different. 1 (March 1990), pp. Western Union is doing that. ", Tom adds, In fast-moving customer-facing scenarios, development is never build-once-and-doneyoure always iterating to refine the customer experience. Divestiture Will Support Western Union's Strategic Focus on its Global Cross-Border Payments Platform and Digital Capabilities Digital Bulletin exists to tell the story. Hiring experienced developers was already hard, and the skills drought got even worse with the great resignation. Women in Marketing: Executives who are building brand narratives Entertainment, Professional
Harveer Singh, Chief Data Architect & Global Head of Engineering, reveals how the initiative will give the organisation the speed and agility it needs to . . When you see those people who are proactive and have aspirations, you are able to almost make them role models and build really effective ecosystems around them.. Financing Digital Transformation and Bridging Digital Divide: The Case But new innovators are highlighting a problem for Western Union: multi-homing is high with money transfers. Some development teams suffer 100 percent attrition in two to three years., "OutSystems helps in many ways. At its core is a migration from on-prem to a cloud-based infrastructure, which it believes is key to allowing the organisation to scale and evolve into a company with the clout of an established financial institution combined with the agility and flexibility of a modern FinTech. And when that happens, they start to see further opportunities for continuous improvement, leading them to new ideas about things they can do to improve efficiency or effectiveness. If CDIOs dont have the right culture on their teams, how can they help drive a data-first culture throughout their organization? What Ive tried to do is look at each of the groups and find out who the strong players in each of them are, the leaders that are vocal and very straightforward in conversation. Inclusion, Bloomberg
Dan Nordlander, senior vice president of Western Union Way Operations at Western Union, discusses his companys unique transformation journey with McKinseys Barr Seitz. Introducing the next-generation operating model, Winning with your talent-management strategy. But you say its about more than technology? The pilots help get buy-in across the organization, and then once we have that buy-in, it provides the resources necessary to scale. Reliable for over 170 years. [11] Western Unions footprint of retail locations gives it a worldwide laboratory for experimenting with blockchain applications. In Western and Central Africa, only 36% of the population has access to broadband connectivity. Sydney Mahan, The First Transcontinental Telegram was sent to DC 155 Years Ago, Washingtonian.com, Oct. 25, 2016. Procurement & Construction, Financial
Weve been able to increase the amount and frequency of relevant data we can share with our agents, and they have started to build new processes based on that.