Western Union Hosts Financial and Regulatory Meeting in Vienna

Western Union Hosts Financial and Regulatory Meeting in Vienna

VIENNA--(BUSINESS WIRE)-- More than 150 financial industry experts are meeting in Vienna today to discuss how to better meet consumer financial service needs in Europe while ensuring consumer protection and enabling growth. The Executive Business Forum, organised by Western Union and the U.S. Embassy, will hear keynote opening addresses from Governor Ewald Nowotny from the Central Bank of the Republic of Austria, William C. Eacho, the U.S. Ambassador to Austria, and Hikmet Ersek, Western Union’s President and CEO. On Tuesday evening, attendees were addressed by Ernst Welteke, former President of the Deutsche Bundesbank.

In his opening remarks to the Executive Business Forum, Hikmet Ersek said, “The European payments industry is undergoing significant change, particularly regulatory change, and the rules governing our industry are being fundamentally rewritten. This change in Europe must enable economic growth, consumer choice and protection, as well as mobility and social inclusion.”

The forum, Driving Growth in Regulated Financial Markets – Challenges for the Financial Services Sector in Europe, featured nearly 20 financial leaders from across Europe and the U.S., who represented the European Commission, banks and financial regulators.

In his keynote address, Governor Nowotny provided a broader financial perspective, saying “The European central banks were able to counter the financial crisis with a series of assertive measures. However, for long-term stability it will be essential to establish higher capital ratios, as well as additional regulatory rules.”

The Executive Business Forum follows a two-day meeting of Western Union’s European agents and compliance experts, who discussed the latest trends and how best to protect consumers against financial crimes.

Hikmet Ersek said, “It’s vital that consumers are protected when using financial services, especially payments, and that’s why Western Union is committed to regulation to prevent financial crime, and invests a significant amount each year in its financial compliance activities.”

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 March 31, 2013, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 515,000 agent locations in 200 countries and territories and approximately 100,000 ATMs. In 2012, The Western Union Company completed 231 million consumer-to-consumer transactions worldwide, moving $79 billion of principal between consumers, and 432 million business payments. For more information, visit www.westernunion.com.

WU-G



Western Union
Kristin Kelly, 720-332-4751
kristin.kelly@westernunion.com

KEYWORDS:   Austria  United States  Europe  North America  Colorado

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2486458, ~/Articles/ArticleHandler.aspx, 12/21/2014 12:35:26 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...