Deployments with start-ups Bridged and Rebric leverage AI and machine learning to enhance Western Union’s Global Cross-Border Platform
Western Union , a global leader in cross-border, cross-currency money movement and payments, announced it is forging business relationships with two fintech start-ups in the first class of the Western Union Accelerator Powered by Techstars. Both companies, Bridged and Rebric, are innovators in artificial intelligence and machine learning. In addition to providing business mentoring and funding through its accelerator program, Western Union is now working with both.
“We’re fostering innovation internally and externally through our accelerator, and these initial projects with Bridged and Rebric are just the beginning,” said Jeff Hochstadt, chief strategy officer for Western Union. “As we continue to transform our business and leverage our global platform in new ways, tapping into innovations from emerging companies is an important part of our broader technology strategy.”
“We will draw the best of what these companies offer to enhance different parts of our global platform – as part of our commitment to continuously be at the cutting edge of innovation for our customers and partners,” he said.
Based in Denver, Bridged uses a combination of technology and crowdsourcing to deliver artificial intelligence as a service, providing scalable data solutions to help organizations build out their own AI and Big Data models for a range of applications. Rebric, also headquartered in Denver, uses machine learning and AI systems to identify bad actors and help companies stay compliant with sanction list regulations.
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of June 30, 2019, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2018, is available in more than 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth.