The Western Union Company (NYSE: WU), a leader in global payment services, today announced an internal Big Data initiative designed to help define and capture growth opportunities within the company’s digital, retail and stored value businesses.
Working with TIBCO Software Inc. (NASDAQ: TIBX), Western Union will leverage internal Big Data analysis to anticipate consumer trends, and ultimately customize the company’s customer engagement strategies according to an individual’s unique needs. In addition, the company will work with TIBCO to streamline the systems integration process for Western Union’s Global Share stored value platform.
“We manage a considerable amount of data—last year alone we completed more than 231 million consumer-to-consumer transactions and 432 million business payments,” said David Thompson, executive vice president, global operations and technology, chief information officer, Western Union. “Big Data analysis of our information will increase Western Union’s productivity and support innovation by capturing the right information, at the right time, so we can act on it in a proactive manner.”
Western Union will utilize a number of TIBCO’s solutions for the internal Big Data initiative, including:
- A high-performance event processing platform that facilitates real-time decision making;
- An in-memory data grid enabling immediate sharing and processing of internal Big Data; and
- A scalable middleware platform that helps automate business processes and integrate the company’s retail locations with its online and mobile offerings.
“We are excited to be selected by Western Union to facilitate real-time, automated business services,” said Raj Verma, senior vice president, North America Sales, TIBCO Software, Inc. “Leveraging the power of Western Union’s Big Data can support their organization by providing a personalized customer experience across multiple channels and platforms, and unlock the true potential of Western Union’s global scale."
In 2012, Western Union moved 28 transactions per second, on average, across 200 countries and territories in 120 currencies.
Western Union’s Global Operations and Technology group develops and builds the infrastructure to support these transactions, and the next generation of payment products and services. The group is responsible for maximizing the efficiency and quality of solutions delivered to the company’s global Agent network, as well as its growing digital presence.