Western Union, a global money-transfer services firm, and Fifth Third Bank have signed an agreement to offer the Western Union global money-transfer service at Fifth Third’s banking center locations spread across 12 states.
Western Union has added that the signing of Fifth Third Bank is part of its North America ‘go-to-market’ strategy to enter into new classes of trade. As Western Union continues to expand its service offerings in an effort to position money transfers to consumers, it seeks to tap into banking channels including: Cash-to-Cash, Account to Cash, and Account-to-Account.
Mark Erhardt, senior vice president of retail products, Fifth Third Bank, said: Our decision to join Western Union’s unparalleled global network supports our ongoing strategy to expand beyond traditional banking services offered at our branches, and add to our other non-traditional offerings such as pre-paid cards and the Identity Alert product.
Stewart Stockdale, executive vice president and president, The Americas, Western Union, said: Western Union understands the retail banking industry and works with some of the world’s leading financial institutions. we look forward to welcoming Fifth Third to our network.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio.
