Western Union’s omni-channel platform will enable its French customers to transfer money to ten African countries, through the company’s website
Western Union has entered into a new strategic partnership with AXA to leverage its omnichannel platform to deliver affordable life and disability insurance offerings to consumers in France.
Western Union’s omnichannel platform will enable its French customers to transfer money to 10 African countries, through the company website.
Under the partnership, Western Union and AXA intend to initially conduct a pilot program which is planned to be developed and scaled in future.
Western Union CEO Hikmet Ersek said: “This partnership shows the power of our global cross-border, cross-currency payments platform. Our long-term goal is to leverage our platform and digital capabilities to forge more partnerships and become a financial services ecosystem.
“In enabling third parties, including banks and other financial institutions, to tap into our ecosystem capabilities, these companies can offer similar services for their customers. We are pleased to offer insurance services in collaboration with AXA to serve our customers and their families who both know and trust Western Union.”
Western Union will provide insurance service from AXA for its customers sending money to 10 African countries
The initiative is said to underline Western Union’s strategy to leverage its global reach and omnichannel capabilities, along with providing an ecosystem of additional services.
Western Union has previously partnered with global companies including Amazon, Sberbank, Saudi Telecom and others, to offer money transfer and payments services.
The initial pilot of ‘Transfer Protect’ insurance offers a free one-month €1,000 AXA life and disability insurance product to Western Union’s customers, who send money to ten countries in Africa through its global web site.
Once registered, the policy would offer a designated family member or loved one in Senegal, Morocco, Ivory Coast, Madagascar, Cameroon, Mali, Benin, Togo, Congo, and Guinea, a lump sum payment in case of life or disability event during the policy period.
Ersek added: “Our customers around the world trust Western Union with their most important and complex money transfers. They also want other value-add services to sustain their financial well-being and long-term financial goals.
“Providing value to the global populations we serve is a key focus for our global strategy. This new partnership will provide a new way for us to facilitate value-added products and services to the millions of immigrants and dual-belongers through westernunion.com.”