SEOUL, South Korea--(BUSINESS WIRE)--
, a leader in cross-border, cross-currency money movement, and , a leading bank in Korea, have come together to enable global money transfers for the bank’s foreign national customers, by leveraging the Western Union® Worldwide pay-out Network.
The app will allow KEB Hana Bank’s customers to send money from their smartphones for payout in cash across more than 200 countries and territories. The app also supports service in 15 different languages, providing convenient and user-friendly customer experience.
Western Union is powering a new form of collaboration by processing complex foreign exchange, settlement and money movement requirements across more than 200 countries and territories enabling KEB Hana Bank to offer its own brand of cross-border money movement through its new mobile app - Hana EZ.
“KEB Hana Bank is pleased to collaborate with Western Union for global digital cross-border money transfers, offering our customers with easy and seamless access to the world. This digital service launch is aligned with our vision to provide customers with the convenience to send money to almost anywhere in the world, any time - 24/7,” said Cho, Jong Hyoung, Head of Business Group and Managing Director, KEB Hana Bank.
“Western Union’s global money transfer engine will enable KEB Hana Bank’s mobile app to send money globally. It is a unique integration of our strengths as we continue to drive breakthrough connections by enabling national enterprises to scale their business offerings worldwide, leveraging our money movement platform,” said Molly Shea, Senior Vice President & General Manager, Global Money Transfer, Asia Pacific, Western Union.
“We are privileged to work with KEB Hana Bank, famed for utilizing innovative technologies to serve customers. Innovative collaborations will continue to shape global business models in the race to enhance customer experience and win and retain their loyalty. We are extending our cross-border service access utilized today by more than 150 million customers, to allow more consumers to access real-time global connectivity for money movement,” added Shea.
Western Union has operated in Korea since 2001. Consumers still retain the choice to transfer money online or offline at over 4,100 Agent locations1 across the country.
CUSTOMER GUIDANCE
In line with local regulations, prior to the first use of the app (available for iOS and Android), foreign national customers are required to visit the nearest KEB Hana Bank branch, open a bank account and apply for internet banking service. After which customers can download the app and proceed to make a transaction.
In addition to the convenience and reliability of sending money anytime, the app enables customers to estimate fees and foreign exchange rates for online money transfers and track past and pending transactions.
Customers can learn more by calling the customer service center at 1588-1111/ 1599-1111.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2019, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in approximately 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit .
About KEB Hana Bank
KEB Hana Bank is a major commercial bank with headquarters in Seoul that operates more than 750 branches in Korea and a global network of over 183 locations in 24 countries. The flagship institution of Hana Financial Group, the Bank provides financial products and services to corporate and retail clients built around its strategic and historic strengths in areas of foreign exchange, international banking, foreign direct investment (FDI), as well as Private Banking and Retail Banking services. In particular, the Bank holds about a 50% market share of Korea's international remittance business.
1. Network data as of March 31, 2019
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