In 2016, that engine became a competitive moat. While fintechs struggled to pass "know your customer" (KYC) checks in rural Africa or Southeast Asia, Western Union agents could verify a government ID on the spot. The company processed over 30,000 suspicious activity reports (SARs) monthly, keeping regulators happy while startups got fined.
Perhaps the most defining moment of Western Union c.2016 was its public stance on Bitcoin. While competitors like MoneyGram flirted with crypto partnerships, Western Union’s then-CEO, Hikmet Ersek, became the industry’s leading skeptic. c2016 western union
Double-check every field for typos. Ensure the receiver's name matches their government-issued ID exactly. In 2016, that engine became a competitive moat
The company made a strategic investment in Walletron, Inc. to enhance its mobile wallet and bill payment capabilities via smartphones. 000 suspicious activity reports (SARs) monthly
