Western Union expands in South Korea with NH Investment & Securities

By Edil Corneille

Denver-based Western Union and NH Investment & Securities (NH I&S), an investment and securities company in South Korea, announced the integration of Western Union branded digital and retail person-to-person (P2P) transfers within the portfolio of financial services offered to account holders of NH Investment & Securities.

NH I&S account holders in South Korea now have the choice to send and receive money using Western Union via the firm’s 24/7 mobile app or 85 branch locations across South Korea. NH I&S Account holders will have the option of their transfer being paid into recipient bank accounts in select countries across the world or at 550,000 retail locations in over 200 countries and territories.

“…It provides choice to send and receive money with 24/7 digital access or in-person branch services. Providing multi-channel choice to customers is an important goal for Western Union – whether that is to pay-in or pay-out funds based on their individual preferences,” said K. Premmananth, Head of Network, Singapore, Indonesia, and North Asia, Western Union.

Premmananth added, “At Western Union, we are serving customers directly through our own branded channels or offering services in partnership by innovatively integrating our services via a branded, co-branded, or white-label model. This reshaped business model is enabling us to serve customers in a manner that is most convenient to them.”

“…The integration of Western Union’s global digital capabilities is of utmost importance. To optimize our relationship, we are dedicating resources to expand services,” said Ji-Hoon Song, Director of Headquarter, WM Sales Strategy Department, NH Investment & Securities. “Evolving globalization and digitalization are shaping the financial industry and we believe it is important to adopt a multi-channel strategy, providing customers choice so that they have the best experience.”