Western Union hosts European Business Forum and Compliance Conference in Brussels
January 21 2015 - 10:55AM
Business Wire
Over 200 financial industry and regulatory experts are meeting
in Brussels today at the European Business Forum, hosted by Western
Union, to discuss how to enable innovation in the payments industry
to better meet consumer and business financial service needs in
Europe, while meeting regulatory compliance.
The aim of the European Business Forum is to facilitate dialogue
between key industry stakeholders on the EU’s regulatory framework,
and its scope to sustain and enable innovation in payments. This is
the second forum hosted by Western Union. It reflects the company’s
commitment as a leader in the payments industry to ensure customer
needs are understood, while meeting regulatory compliance.
The European Business Forum will hear key note addresses from
Mario Nava, Director for Financial Institutions from the European
Commission, and from Western Union’s President and CEO, Hikmet
Ersek, along with an expert panel discussion. Attendees are drawn
from the European Commission and European Parliament, and
regulatory authorities, banks and payment institutions, amongst
others, from across Europe.
Hikmet Ersek, in his opening remarks, said, “There has never
been a more fascinating or exciting time to be involved in the
European payments space. New consumer needs are evolving,
innovations, fuelled by digital and mobile technologies, are
quickly emerging and new players are constantly arriving on the
scene, bringing new business models. In this setting, regulatory
and legislative authorities have a difficult balance to strike. New
legislation, such as the Payment Services Directive 2, needs to
ensure choice and competition, and harmonized regulation across the
EU.”
The forum is then followed by a compliance conference attended
by Western Union agents and partners from across Europe to focus on
best practice in anti-money laundering measures and fraud
protection.
Hikmet Ersek, said, “It‘s vital that consumers and businesses
are protected when using financial services, especially payments
and remittances, and that’s why Western Union is committed to
regulation to prevent financial crime. To meet this commitment, we
continue to focus on our compliance efforts as a priority for our
business.”
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
September 30, 2014, the Western Union, Vigo and Orlandi Valuta
branded services were offered through a combined network of over
500,000 agent locations in 200 countries and territories and over
100,000 ATMs and kiosks. In 2013, The Western Union Company
completed 242 million consumer-to-consumer transactions worldwide,
moving $82 billion of principal between consumers, and 459 million
business payments. For more information, visit
www.westernunion.com.
WU-G
Western UnionSimon Kleine, +44 7725 206
640simon.kleine@westernunion.com
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