KUALA LUMPUR, October 8, 2008 - The Western Union Company (NYSE:WU), a leader in global money-transfer services, announced today that it will offer money transfer through internet banking for the first time in Asia Pacific in cooperation with Malaysia's CIMB Bank.
The new service is in line with the company's strategy to expand distribution channels and access new customers.
Sunil Balagopal, Regional Vice President, Southeast Asia, The Western Union Company, said: "Western Union is committed to being where our customers need us to be and available when they need us. Increasingly, Malaysians are part of a global world with family and friends living, working and traveling away from home. This is a welcome convenience for busy individuals as they can send cash anytime without the hassle of visiting a bank branch during office hours."
Peter England, Head of Retail Banking, CIMB Bank, said: "We are delighted to have Western Union as part of our CIMB Clicks online service provider. This is part of the Bank's value-added service to offer a diversified, seamless and safe- banking experience to customers remitting monies overseas. CIMB Clicks is fast, and enables customers to perform banking transactions in a secure and reliable environment. The Western Union online service further enhances our wide range of online banking services encompassing bill payments, fund transfers and handphone reloads, just to name a few.."
The new service will enable CIMB Clicks users to send cash anytime, anywhere with secure online access. Within minutes, recipients will be able to pick up the cash at any of the 355,000* Western Union agent locations in over 200 countries and territories.
Western Union currently offers over-the-counter money transfer services through more than 1,200* authorized service provider locations in Malaysia.
For further information please contact:
Connie Yip
The Western Union Company
+852 3405 8002
connie.yip@intl.westernunion.com
* Funds will be available for payment subject to Agent location's operating hours, time zone differences and other applicable restrictions. Network data as of 30 June 2008.
About Western Union:
The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a network of more than 355,000 Agent locations in over 200 countries and territories as at 30 June 2008. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.
About CIMB Bank
CIMB Bank is the commercial banking arm of CIMB Group. It offers its retail banking services to over 4.5 million customers in 367 branches nationwide.
CIMB Group is Malaysia's second largest financial services provider and one of Southeast Asia's leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, its key regional offices are located in Singapore, Indonesia and Thailand. CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the majority shareholder of PT Bank Niaga in Indonesia.
CIMB Group is owned by Bumiputra-Commerce Holdings Bhd, which is listed on Bursa Malaysia with a market capitalisation of approximately US$ 10 billion. The Group has over 24,000 employees located in 9 countries.