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.
We believe in the work we do, why we do it, and who we hire to get it done. Head of Information Technology & Digital Transformation Econet Wireless Zimbabwe Oct 2015 - Present 7 years 6 months. 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 . Meeting the moment with solutions required Western Union to accelerate its own digital transformation. 1 (March 1990), pp. The map, Barmer and Newman say, is designed to do precisely that turn the western Pennsylvania fish-fry culture into an adventure stamped onto the landscape that fosters community engagement . 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. Once a customer notarises their documents, they can be stored in a safe location and distributed across the blockchain network, so any regulatory authority or government can access that information.
For more details about how Western Union went from 34 on-prem data warehouses to pursuing a multi-cloud strategy based on Snowflake, read our case study. The aim of this paper is to sketch a brief history of complex digital transformation of media and . your next, Infosys
Data privacy and security practices . This seems to be a typical BSSE case in which it is hard for the incumbent to disrupt its business, since the innovation may threaten the current profitable business. And being with the people that are actually doing the work really helps the management get a better sense of where they can use their leadership and influence to make that process easier for the employee and better for the customer. Complete your profile for personalized recommendations, Managing Director, U.S. Financial Services at Google. The CDO needs to drive digital transformation by enabling data to power product development and the company. NICE have announced Western Union, a global leader in cross-border, cross-currency money movement, has advanced customer experience through improved . Leadership. 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. Many of its 150 million customers worldwide depend on money transfers to pay for food, electricity, medication, and other necessities. But it becomes more self-driven, and that really enables the scale. My mission is to empower people to become economically self-reliant. When fully realised, he says, it will give Western Union the agility it is seeking, while also having a positive impact on its bottom line. Services, Consumer
Western Union: Reimagining a Financial Services Leader Board of Directors. Western Union will likely face internal resistance from three sources. Open a free Western Union Digital Banking bank account to manage your international finances and make instant, transfer fee-free* money transfers to other Western Union Digital Banking account holders.
Western Union hiring Global Head, Customer Experience & Design in 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. Western Union uses a central team to build new capabilities across the business. Jaffin: Our company mission is to enable financial transfers between people anywhere and everywhere; we had a responsibility to continue to deliver on that. 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. A doctor in London taps an app on her phone to transfer 500 pounds. As consumer expectations continue to evolve, digital will play an ongoing role in helping financial services brands deliver value to their customers and drive business growth. Commenting on the speed comparison of OutSystems compared to previous traditional development, Tom said, "On an earlier project, we had ten people working on a pricing and UX project. UnionDigital Bank is the trusted bridge between innovation and regulation. All of that is dependent on people in the organization putting resources behind this kind of an agile transformation. It works with Talend to streamline data movement in compliance with GDPR across financial, reconciliation, auditing and trading partners. ", Tom adds, In fast-moving customer-facing scenarios, development is never build-once-and-doneyoure always iterating to refine the customer experience. Infosys accelerated Western Union's digital transformation by harmonizing agent operations, implementing billing and collection standards, enabling modular growth, accelerating new product launches, enabling digital on-demand procedures, designing global accounting solutions based on one single template, supporting highly complex pricing and multiple business models, and massive management processes as a strategic technology partner. Mazzaferro: In the past, the thinking in the industry has often been that applications are king, and that data flows through the applications. 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. Consumers can 'Send Now, Pay Later' by borrowing up to AUD 2000 through Beforepay's wage-advance product on Western Union's digital channels. Mazzaferro: Snowflake is enabling quite a bit around analytics, reporting, event triggers, and settlement across our card providers. My team and I had thought of the future being digital, of course, but the pandemic really forced us to make it a reality for the business. Experienced and certified (ACAMS) AML and Learning & Development professional with a proven track of records in compliance, people management, learning areas. For example, De Beers is trying to create a diamond blockchain for registration and authentication, to prevent the spread of conflict diamonds. Digital Transformation. Western Union International Bank GmbH is regulated by the Financial Markets Authority in Austria, [i] Agent location count valid as of 31 December 2017. Western Union International Bank's CEO Peter Bucher firmly believes you can drive successful, innovative business while creating a better world for the community you live in. 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. 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 began a mission to transform the settlement platform with streamlined retail and digital cross-border money transfer operations to overcome the challenges and constraints of their legacy settlement systems. Does it offer a more seamless customer experience? Specifically, how Data, Editors note: This is part of a series of blogs about the data economy. ; With the solution, Western Union launched a state-of-the-art digital . [9]Western Union recently dipped its toes into blockchain. We wont bug you too much because thats more work for all of us. 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. Jay Jaffin was just starting his role as Western Unions chief marketing officer when the pandemic arrived. 12. The paper analyzes the issues of digital transformation in the European Union in such key dimensions as financing digitalization and implementing public policy to bridge the digital divide in the EU member countries. & Publishing, Logistics
It is far more stable than that and can be used for near instant settlements across the board, while providing liquidity to Reserve Banks. Digital transformation in Western Union must be driven from the top-down. 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. [7]While cryptocurrencies are an obvious threat to Western Unions cross-border money transfers, Blockchain also can be used in a range of imaginative ways. Africa's largest payment gateway, MFS Africa, has partnered with Western Union to enable individuals and businesses across the continent to receive money Because if you dont have the right data, your applications will struggle to provide the right business outcomes and customer experiences. The role of CDO needs to encompass more than data management and data governance, more than even enabling the pipeline and managing the environments. One of its most high-profile hires was Harveer Singh, who was appointed as Chief Data Architect & Global Head of Engineering and previously co-led EYs Next Generation architecture & solutions for Financial Services.
Western Union and Zain Cash Collaborate to Facilitate Digital Cross Western Union Customer Journey Transformation Rica, Hong
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. Snowflake: What are a few highlights of how Snowflake is helping with digital transformation? The difference with OutSystems is that we can do that fast and at scale, deploying experiences that are fast to load, reliable, and secure. In 1861 it sent the first transcontinental telegraph. Digital is all about how we reach the customer. Some development teams suffer 100 percent attrition in two to three years., "OutSystems helps in many ways. Western Union is trying to use Blockchain as an incremental or modular innovation, when in fact it could be an architectural orradical innovation (see chart below) introducing entirely new businesses that fit well into Western Unions existing capabilities. Inclusion, Bloomberg
[8].
The Transformation Story of Western Digital - infosys.com [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. 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 Western Union also is uniquely positioned to explore blockchain applications in emerging markets by leveraging Western Unions retail footprint, regulatory compliance learning, and global brand.
Digital transformation starts with people, which is a useful reminder that . In the past several years, the Englewood, Colo.-based company has made a point to develop and [] 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. Why Do Companies Choose to Outsource Work?
Working across many cultures at Western Union | McKinsey The transition from legacy systems to Oracle Solutions was critical to the strategy's success. Product Director, United States Money Transfer. New-found agility delivers growth and improved Customer Experience for partners and customers. January 25, 2019 | Video. HELIX, Management
Definition of Digital Transformation - IT Glossary | Gartner He shares his views on digital transformation and economic opportunities for all. Key takeaways. One of these customers is Tom Mazzaferro, Chief Data & Innovation Officer of Western Union, which serves more than 100 million global customers through approximately 600,000 retail locations, and via its digital platforms. The Western Union Way of digital transformation. The top challenge for businesses with digital transformation goals in 2023 is determining where their companies should direct spending on technologies, according to a BCG X report.
UnionBank: Blazing Digital Trails in the Philippines and Beyond Finance. Furthermore, a chain of retail outlets is expensive. Western Union's digital services align with the UAE government's policy to create an economy driven by innovation and technology," said Salma Massoud, head of digital, Middle East and Africa . The network upgrade will pave the way for Econet to deliver 5G connectivity in more . Last year, the global-payment services giant completed 268 million consumer-to-consumer transactions worldwide, for a total of $80 billion. Lastly, how do you see digital continuing to drive your services in the future? How would this improve our agility, the need to deliver great digital experiences at scale, and the desire to use low-code across the whole stackfront-end, integration, and back-end core systems., Western Union became an OutSystems customer in November 2020. 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.. 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 . Navigating complex land title issues would also leverage Western Unions existing capabilities of dealing with a range of government regulations. With a strong base of over 4 million customers and an established regional brand in the fast-growing digital wallet market, Western Union believes that stc pay is poised to experience strong growth in the future. Were talking 30 percent, 40 percent, and, in some cases, deployments with a 70 percent return on capacity. Think of Western Union, and its yellow placard advertising an agent location comes to mind. Jaffin: Evolution meant expanding the ways in which customers experience the brand digitally.
Need a Lenten fish fry? There's an interactive map for that The resulting report, How to Win in the Data Economy, includes anecdotes from dozens of customers, analysts, and influencers about how to succeed, all in addition to the survey itself, based on feedback from 1,000 senior business, technology, and data managers across five industries and from all over the world. Its more about having the manager understand how the work actually gets done on the floor. 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. I have successfully directed virtual teams working on Mastercard integrations, Western Union and MoneyGram.
Western Union Careers Knowledge Institute, Chemical
There was a need to accelerate the process we wanted to undertake, I have that experience of transformation projects happening on a massive scale. However, Western Union would be wise to form a new, separate unit for exploring blockchain 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. Migrants, who typically are the link between cash economies underserved by financial institutions, and highly bancarized, digital economies, benefit from Western Unions unique ability to combine the physical and the digital. Western Union and Beforepay Offer 'Send Now, Pay Later' Service to Consumers for International Money Transfers The company considers local preferences, as well, accepting about 10 payment methods, such as Apple Pay in the U.S. First, Western Unions third party agents may try to thwart any concerted moves to digital platforms, seeing such a move as a threat to existing commission revenues. Increasingly, digital technology and mobile devices play a key role in these transactions. Jaffin: Its important for us to continue trying new technology that gets us closer to customers and their changing needs, like advanced analytics and other tools. The relationship with Talend has enabled Western Union to help its global customer base in times of real need.
Arvie de Vera - LinkedIn Meeting the moment with solutions required Western Union to accelerate its own digital transformation. Heute nutzen bereits rund 150.000 Anwender in Deutschland sowie in Rumnien, Polen und Italien die Western Union Digital Banking App fr ihre finanziellen Angelegenheiten - immer mit dem Ziel . 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. Teams that may not previously have interacted with each other are now doing floor walks with each other. Hospitality, Waste
The executive team has done a great job of making it really clear across the company that this is something thats expected of you. In just 11 months, we delivered a full-service digital banking experience that expands our relationship with customers.. The OutSystems platforms capabilities were immediately put to the test through 2021, as Western Union and its system integrator started development of its new digital banking app that includes a multicurrency bank account combined with money transfers, and other added benefits such as a Visa Platinum debit card. [2] Westar 1, Wikipedia, accessed April 2018. Consumers are less aware that we have transformed ourselves into one of the largest digital money transfer firms in the world, with our digital activity generating well over $400 million revenues in 2017. What does "digital transformation" mean to Western Union? Log in to help. Cortex, Infosys
First, for continuity of services. And still others want to do it all online.. His career span includes working with organizations like FIS, Western Union, HCL Technologies, CGI, Mahindra Satyam and iGate Global Solutions. From apps that save lives to those that process loans in a
Talend is our backbone for that work and have really evolved their product to meet our needs.. Over the last two years, Singh has been accelerating Western Union's tech plan. The culture change has to be driven across teams to show how technology has enabled different and better outcomes. Western Union can leverage such physical presence to win this new innovative space. Western Union offers digital transactions in 70 countries to move money around the world. From the earliest days of the pandemic, innovating the companys services to meet new patterns of consumer demand was an urgent matter. 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. Commenting on the advantages of development on OutSystems, Tom says, "We estimate that we're getting new products . Fellahi sees the Messenger bot as a promising tool. Thank you for this great post, Hans.
Western Union, Chief Data Officer: Digital Transformation Initiatives 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. Revenue from Western Union's digital money transfer services spiked from $600 million in 2019 to over $850 million in 2020.