Payment service firm Western Union Company in association with TIBCO Software announced its Big Data initiative.
In 2012, Western Union moved 28 transactions per second, on average, across 200 countries and territories in 120 currencies.
The internal Big Data initiative is designed to define and capture growth opportunities within the company’s digital, retail and stored value businesses.
David Thompson, executive vice president, global operations and technology, chief information officer, Western Union, said: “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 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.
Last year, Western Union completed more than 231 million consumer-to-consumer transactions and 432 million business payments.
Raj Verma, senior vice president, North America Sales, TIBCO Software, said: “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.”