MoneyGram has extended its long-standing agreement with Sweden-based FOREX Bank. FOREX Bank is in partnership with MoneyGram since 2004, providing international money transfers across 100 locations in Sweden, Denmark, Finland and Norway.
MoneyGram has said that the completion of the new agreement illustrates the opportunity presented by money transfers in the Nordic region, particularly in light of the volume of money sent overseas from Sweden and Norway by growing migrant populations.
Mark Crowson, regional director for Northern Europe at MoneyGram, said: “FOREX Bank offers solid network coverage, a reputation for exceptional customer service and a well-known, respected brand. We look forward to working closely in growing the MoneyGram brand, identifying new growth opportunities and developing new products and channels.”
Daniel Soderberg, deputy managing director of FOREX Bank, said: “We are extremely pleased to continue our long-term partnership with MoneyGram. As FOREX Bank evolves from a foreign exchange bureau into a consumer bank, it is critical that we offer compelling financial services that both retain current customers and acquire new ones. We are excited about the future and growing our money transfer business with MoneyGram.”
