Western Union International Bank Explores New Markets

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Collaboration with Capgemini to evaluate, select and implement a core banking package helps establish banking business throughout Europe.

“The strong commitment and effort of Capgemini helped us to achieve the common project goals!”
Andreas Kreibich, Head of IT/Operations, Western Union Bank

The Situation

The Western Union Company, a leading provider of money transfer services worldwide, together with its affiliates Orlandi Valuta and Vigo, operates in more than 305,000 locations across 200 countries and territories. Some 396 million money transfer transactions yielded turnover of $4.5 billion in 2006.

Based in Vienna, Western Union International Bank (WUIB) was founded in 2004 to support Western Union’s strategy, enhance core business, offer tailored services through multiple channels, and most importantly, become the bank of choice for global customers. With banking operations starting in Austria, Germany and Norway, the strategy is to expand throughout Europe.

The Solution

Capgemini supported WUIB to define the business strategy and operating model for a pan-European business in a dual-phased approach.

As part of the strategy and operating model, Capgemini deployed a detailed process for vendor selection so that WUIB had a stable and scalable core banking system to address its complex requirements. The package selected was Flexcube® from i-flex.

In the second phase, Capgemini planned and executed the Flexcube GL and Teller implementation as well as a rollout of the core banking solution to defined locations in three countries. The implementation was executed over six months.

The Result

At the end of implementation, all WUIB branches in Austria, Germany and Norway were using the Flexcube branch teller application.