dav Western Union, the 172-year-old remittances company, says it has built a new modular point-of-sales (POS) architecture and “a services layer that we can access across multiple front end technologies, including our legacy point of sale systems around the world” 00 as it aims to tackle a steady decline in revenues, rampant customer attrition and continue an ongoing Western Union digital transformation programme Western Union is relying heavily on a digital transformation programme under its “Evolve 2025” strategy to help recapture market share from fintechs like PayPal, Wise, WorldRemit and tackle customer attrition. The latter is a priority: An eye-opening 60% of customers are one-time users only, a 2022 investor day revealed, with 40% of all customers not returning “due to pricing, transaction time, or poor customer interaction.” Western Union, which reported quarterly revenues on May 2, 2023 of $1.03 billion, down 1%, has faced what looks like death-by-a-thousand-cuts from emerging fintechs with slicker stacks and lower costs. It is also still heavily reliant on bricks-and-mortar outlets, but executives said they are “making headway on stabilising our retail business and accelerating growth in our digital business” on its fiscal Q1, 2023 earnings call this month. The company, which has […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
