Western Union Joins Forces with Suhyup Bank, Expands in South Korea

Western Union has announced a partnership with Suhyup Bank to offer international money transfer services. This will connect its customers in South Korea to the ones overseas.

This collaboration means that customers can send Western Union money transfers from around 130 Suhyup Bank locations and more than 220 sub-agent locations in South Korea. The plan is to scale up to 480 bank and sub-agent locations by the end of this year.

"Suhyup Bank is a bank steeped in innovation and we always do our best to meet customers’ needs through a variety of financial products and services," said Jooeun Lee, Head of Global Banking Department, Suhyup Bank. "We are glad to collaborate with Western Union, enabling us to expand our portfolio of services and cross-border reach and bringing customers greater ease and confidence as they send money to their loved ones abroad."

This partnership will help customers move funds for cross-border money transfers, enabling payout in cash across more than 200 countries and territories and into bank accounts and wallets in select countries worldwide.

"At Western Union, we are driven by collaborations that drive global connectivity and support our mission of moving money for better," said K. Premmananth, Head of Singapore, Indonesia and North Asia for Western Union. "We look forward to a successful collaboration with Suhyup Bank, expanding access to money transfer services for customers in South Korea."

Global Connections: How Have Businesses Benefited From Global Databases?

Businesses have benefited from a number of technological advancements over the years, but with something as simple as a database, you can begin to streamline the daily operation of your business without having to spend a vast amount of money on organisation software. In this article, we will be providing you the insight into how a business can benefit from global databases.

Can Aid Business Expansion

Though it can be difficult to set up your business with access to a global patent search database this can help to aid business expansion into international markets. Not only can you keep an eye on a number of different elements in the business, but you can also look at other patents that have been filed by other businesses allowing you to avoid conflicts and get jobs completed as quickly as possible to the best of your ability.

Boosts Value of the Business

When a business has gained access to numerous databases, you can begin to boost the value of your business by making sufficient trades. Though this can take time to build up, boosting the value of your business will allow you to sell for more should you decide to in the future. In addition to this, it allows you to analyse data in a number of ways without having to crawl through a large amount of data that has not been organised as this can slow down the daily operations of the business as a whole.

Better Organisation in Businesses

Databases are also useful to reduce the amount of time managing data as well as helping to streamline the process when it comes to the analysis of data in a number of different ways. They can also be used to keep track of orders and other important company information making it worthwhile for businesses in the long term allowing you to find the data that needs to be processed with ease. Whether this is a database that is held externally or a database that is added to manually in store, this company information can be held easy and referred to when needed. Without the need of a filing cabinet.

Helps To Understand Target Audiences

Though it can take time to fully understand target audiences a database can be used to segment each specific section of an audience. Whether this is a database organised by age, gender or overall location, you can access data quickly and easily without having to search through a large amount of paperwork. Whether you are a small business looking to build up a business or you are looking to reorganising a filing cabinet, you can then begin to understand target audiences as well as target specific groups with the information that is collected.

Regardless of the reasoning behind using databases, you can be sure that your business will gain organisational skills as well as speed up a number of processes for the business. Will you be utilising databases for your business in the near future?