Western Union Expands with Bank Syariah Indonesia

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Western Union , a global leader in cross-border, cross-currency money movement and payments, has collaborated with Bank Syariah Indonesia (BSI) , a state-owned Islamic bank in Indonesia, to offer its services across more BSI locations in the country.

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Provider:

Business Wire, Inc.

Retrieved on:

Thursday, August 19, 2021

Information

Geotags:

Indonesia, EAST ASIA, SINGAPORE, WESTERN

⚠ generated by AI ↴

Organisation:

WESTERN UNION, BANK SYARIAH INDONESIA

Summary

Key Points:

Western Union , a global leader in cross-border, cross-currency money movement and payments, has collaborated with Bank Syariah Indonesia (BSI) , a state-owned Islamic bank in Indonesia, to offer its services across more BSI locations in the country.
BSI was founded on 1 February 2021 as a result of merger between state-owned sharia banks which are subsidiaries of larger banks: BRI Syariah (of Bank Rakyat Indonesia), BNI Syariah (of Bank Negara Indonesia) and Bank Syariah Mandiri (of Bank Mandiri).
Western Union previously offered its services at more than 650 Bank Syariah Mandiri locations across Indonesia.
BSI is a state-owned bank formed from the merger of PT Bank Rakyat Indonesia Syariah (BRIS), Bank Negara Indonesia Syariah (BNIS) and PT Bank Syariah Mandiri (BSM) effective February 1, 2021.

Western Union, a global leader in cross-border, cross-currency money movement and payments, has collaborated with Bank Syariah Indonesia (BSI), a state-owned Islamic bank in Indonesia, to offer its services across more BSI locations in the country.

BSI was founded on 1 February 2021 as a result of merger between state-owned sharia banks which are subsidiaries of larger banks: BRI Syariah (of Bank Rakyat Indonesia), BNI Syariah (of Bank Negara Indonesia) and Bank Syariah Mandiri (of Bank Mandiri). Western Union previously offered its services at more than 650 Bank Syariah Mandiri locations across Indonesia.

This significant expansion with BSI adds more than 750 additional locations to Western Union’s financial network. Customers in Indonesia can now seamlessly send and receive money at more than 1,400 BSI locations in the country, connecting them to their loved ones in more than 200 countries and territories.

“We are very pleased to expand our relationship with BSI and offer cross-border remittance services in more locations across the country,” said K. Premmananth, Head of Singapore, Indonesia and North Asia, Western Union. “At the heart of what we do at Western Union is connecting people, allowing them to move money around the world. With BSI we remain committed to maintaining the widespread service and working collaboratively to reach more customers together.”

“BSI is the largest sharia bank in Indonesia and we are pleased to expand our services with a global leader such as Western Union,” said Kokok Alun Akbar, Retail Banking Director, BSI. “Previously, we offered Western Union services at over 650 locations and are now glad to double the location count. Together we will continue to evolve the services we offer – working to make it easier, faster and more convenient for our customers to connect with their families and loved ones across the world.”

According to World Bank, Indonesia is among the top remittance recipients in the East Asia and Pacific Region in 2020. Western Union currently provides its services across more than 20,000 Agent locations¹ across the country.

About Western Union

The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect businesses, financial institutions, governments, and consumers through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and more than 550,000 retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.

About Bank Syariah Indonesia

PT Bank Syariah Indonesia Tbk. (IDX: BRIS) is the largest Islamic bank and the 7th largest bank in Indonesia with assets of IDR 240 Trillion. BSI is a state-owned bank formed from the merger of PT Bank Rakyat Indonesia Syariah (BRIS), Bank Negara Indonesia Syariah (BNIS) and PT Bank Syariah Mandiri (BSM) effective February 1, 2021. BSI has more than 1300 networks and more than 25 million customers throughout Indonesia.

For more information, visit www.bankbsi.co.id

¹ Network data as of June 30, 2021

View source version on businesswire.com: https://www.businesswire.com/news/home/20210818005895/en/