HALISTER1: Western Union CFO Expects Increased Spending on WU Way Program

Western Union CFO Expects Increased Spending on WU Way Program

(Bloomberg) -- The amount Western Union spends on its WU Way initiative will be “ramping up more heavily in the next three quarters,” CFO Rajesh Agrawal said in a phone interview.
  • NOTE: WU spent $14m on WU Way in 1Q17; spent $20m in 2016 and expects to spend about $100m in 2017
  • WU Way is focused on improving customer experience, Agrawal said; one example is giving customers digital tools so they understand the status of their transactions
  • Separately, Agrawal said a takeover of competitor MoneyGram by Ant Financial or Euronet doesn’t change WU’s strategy
  • NOTE: March 14, MoneyGram-Euronet a Greater Threat to Western Union: Street Wrap
  • NOTE: Feb. 10, Western Union’s ‘WU Way’ Program Raises Concerns, Analysts Say
  • NOTE: Jan. 19, Western Union to Pay $586 Million Over Failure to Stop Fraud
    • WU Said to Keep Compliance Spending Unchanged After Settlement

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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WU US (Western Union Co/The)

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Rajesh Agrawal (Western Union Co/The)

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