The Western Union Company (NYSE: WU), a global leader in the money-transfer segment of global payments, and Fifth Third Bank, jointly announced today the rollout completion of the Western Union global money-transfer service at more than 1,300 Fifth Third banking center locations in 12 states: Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina.
"We are excited to offer our customers and walk-in consumers the ability to send and receive money transfers at our Fifth Third banking centers," said Marilyn Mocilnikar, senior vice president and director of retail products & delivery at Fifth Third Bank. "Our relationship with Western Union enables us to expand beyond our traditional product and service offerings to better meet the diverse needs of our customers and the communities we serve."
The signing of Fifth Third Bank is an important step in Western Union's North America "go-to-market" strategy to continue to expand its footprint and attract new consumer segments, specifically, within the banking channel.
As Western Union expands its money-movement service offerings, in an effort to strengthen both its relationship and value proposition with consumers, it looks to tap into cash, account, and card-based delivery solutions.
Stewart A. Stockdale, President, The Americas and Executive Vice President, Global Key Accounts and Global Cards, Western Union, stated, "Fifth Third and Western Union are brands consumers trust. Consumers can now transfer money through an outstanding global network."
"For many consumers, the Western Union service represents a fast, convenient and reliable connection with family and friends. Making that connection easier is an example of the tremendous value the Western Union brand adds to banked consumers," Stockdale added.
Fifth Third Bank announced that it would become an agent of Western Union in July 2009. Today's announcement completes the rollout throughout Fifth Third Bank locations.