Payments

Western Union selects AWS as preferred cloud provider

  • The 168 year old financial services firm is making moves for the future.
  • It's turning to AWS to build cloud-native applications and service Amazon shoppers in local currencies.
close

Email a Friend

Western Union selects AWS as preferred cloud provider

Today, Amazon Web Services announced that Western Union has selected AWS as its preferred long-term strategic cloud provider.

What's happening: Western Union plans to move a significant portion of its infrastructure to the cloud.

  • With this move to AWS, Western Union will migrate from current datacenters to a microservices architecture, gaining the ability to build and support its applications, regardless of scale, load, or complexity.
  • Western Union plans to use a mix of AWS machine learning, analytics, database, serverless, containers, and security services to update its current systems and products, and to build new cloud-native applications.
  • AWS will enable Western Union to strengthen its money movement platform using Amazon PayCode, a new payment option available in 21 countries including the US, Chile, Colombia, Peru, the Philippines. With PayCode, shoppers can pay for their Amazon purchases in local currency, through Western Union’s network.

Western Union is in a multi-year process to digitize the 168 year old financial services firm.

  • The money movement firm continues to look for ways to improve the customer experience over a variety of channels.
  • Newer platforms like Currencycloud and TransferWise are gunning for Western Union's international payments business by partnering with banks to service their customers.
  • AWS supports cloud services for financial firms like Liberty Mutual and Capital One.

“Our transition to the cloud will enable Western Union to expand our digital footprint and work more efficiently as we evolve to meet the needs of our business and customers. The elasticity and agility that AWS provides will enable us to transform the way we operate and become a cloud-first organization,” said Amit Sharma, chief information officer of Western Union.

0 comments on “Western Union selects AWS as preferred cloud provider”

Banking, Payments

How Venmo fosters financial responsibility through the Venmo Teen Account 

  • The Venmo Teen Account is wired into the existing Venmo account of parents to keep parents in charge.
  • The custodial account also offers personalized Mastercard debit cards for its younger customers to encourage smart spending decisions from an early age.
Sara Khairi | June 07, 2023
Payments

Challenges facing Paze: Jostling for position in a crowded digital wallet space

  • EWS launched its digital wallet service Paze, earlier this year. But Paze is coming into a space where incumbents have become deeply embedded.
  • What challenges await the new digital wallet service?
Rabab Ahsan | June 06, 2023
Payments

Citizens and Mastercard roll out first-of-its-kind Touch Card in the US for the visually impaired

  • To enable more inclusive payments for the sight impaired, Citizens has rolled out America's first touch card for its high net-worth clients.
  • Touch cards are an emerging card standard designed to provide a greater sense of security, inclusivity, confidence, and independence to visually challenged consumers.
Sara Khairi | June 06, 2023
Banking, Payments

Santander embraces the Earned Wage Access trend, taps DailyPay to strengthen client relationships

  • Santander Bank has tapped DailyPay to incorporate the Earned Wage Access offering into its treasury management in a move to benefit its commercial banking clients in the US.
  • The EWA offering can serve as an impactful tool for bank clients, bolstering the bond between the employee and the employer as well as establishing a sound footing for their businesses. In turn, it deepens the client-bank relationship and reinforces the growth that they can achieve together.
Sara Khairi | June 01, 2023
Lending, Payments

Can lenders improve the financial health of consumers through design?

  • Design can play a critical role in improving consumers' financial health when it comes to lending.
  • Research by the Financial Health Network shows that areas like defaults, making payments, and borrowing the right amount can be significantly improved through behavioral design principles, to ensure customers make decisions that improve their financial well-being.
Rabab Ahsan | May 26, 2023
More Articles