Offering to Better Serve Money-Transfer Needs of Banked and Walk-in Consumers
ENGLEWOOD, Colo. & CINCINNATI, Apr 01, 2010 (BUSINESS WIRE) -- 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(R) 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.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Custom House branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of more than 410,000 agent locations in 200 countries and territories. In 2009, The Western Union Company completed 196 million consumer-to-consumer transactions worldwide, moving $71 billion of principal between consumers, and 415 million business payments. For more information, visit www.westernunion.com.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $113 billion in assets, operates 16 affiliates with 1,309 full-service Banking Centers, including 103 Bank Mart(R) locations open seven days a week inside select grocery stores and 2,365 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 49% interest in Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2009, has $187 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ(R) National Global Select Market under the symbol "FITB."
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6234939&lang=en
WU-G
SOURCE: The Western Union Company
The Western Union Company
Melissa Sachs, 720-332-4489
melissa.sachs@westernunion.com
or
Fifth Third Bank
Stephanie Honan, 513-534-6957
Stephanie.honan@53.com
Copyright Business Wire 2010