Western Union (NYSE:WU)
Recently, Western Union (NYSE:WU) announced that it has deepened its relations with Texas’s Woodforest National Bank, allowing Woodforest National Bank’s customers to benefit from WU’s retail and digital money transfer services.
Following a renewal of their partnership, Woodforest National Bank customers can take advantage of Western Union’s (NYSE:WU) online money transfers and bill payments via the bank’s website and mobile app. The same selection of services will be available to them in-branch, giving them more flexibility when making financial transactions.
Western Union (NYSE:WU) and Woodforest National Bank have worked together for over a decade to provide customers with speed, options, and trust when engaging in money transfers and bill payments. These and other initiatives highlight Western Union’s genuine efforts to strengthen its collaboration with the Woodforest National Bank. The extended agreement with the Woodforest National Bank, which operates in 17 U.S. states, is evidence that WU is trying to expand its presence throughout the country.
Western Union’s (NYSE:WU) global presence in more than 200 nations and territories and its cross-border, cross-currency platform makes it a popular choice for partnerships among financial service providers. The program enables users to easily send money to loved ones across the globe, with the funds arriving quickly via a vast network of retail locations or into the billions of bank accounts that include millions of wallets and cards.
This move by Western Union (NYSE:WU) to provide in-person and web-based services to Woodforest National Bank customers is timed perfectly. Customers’ fear of visiting a branch was lessened due to COVID-19. However, digital money transfer is still crucial in daily life because of its speed and ease without needing to leave the house.
Western Union (NYSE:WU) invested heavily in technology and formed several digital partnerships to have a solid digital presence. WU has recently formed several partnerships with international and domestic banks to expand its digital service offerings, improve its ability to manage international payments, and provide a better overall service to its customers.
WU’s stock price has dropped 10.2% this year, outperforming its sector’s 4.6% average decline.
Featured Image: Megapixl @Ricochet69
Author Shariq Khan 
