Western Union forms strategic partnership with HCLTech to transition to an AI led platform operating model

Core Insights - HCLTech and Western Union have formed a strategic partnership aimed at driving innovation and transformation in the financial services industry [1] - HCLTech is now Western Union's largest preferred partner, focusing on empowering fintech companies through digital engineering and innovative solutions [1] Company Overview - Western Union operates in over 200 countries and territories, providing cross-border, cross-currency money movement and digital financial services [2] - HCLTech employs over 220,000 people across 60 countries, with consolidated revenues of $13.8 billion for the 12 months ending December 2024 [3] Partnership Objectives - Transition to a platform operating model using HCLTech's AI-powered solutions to enhance agility and scalability for Western Union [4] - Accelerate platform and channel transformation by leveraging HCLTech's digital, cloud, and AI solutions to improve customer experiences [4] - Utilize HCLTech's expertise in digital engineering to reimagine Western Union's technology landscape and increase operational efficiency [4] - Establish an advanced technology center in Hyderabad, India, to enhance Western Union's global technology capabilities and foster innovation [4]