Agreement Boosts Access to International Money Transfer Services Across Sri Lanka
Western Union, a leader in cross-border and crosscurrency money transfer, has expanded its network in Sri Lanka facilitating greater access for international money transfer customers, following an alliance with Hatton National Bank (HNB), Sri Lanka’s premier private-sector commercial bank.
With this collaboration, customers can now receive their Western Union money transfers in minutes1 from more than 200 countries and territories, across HNB’s island-wide branch network of 251 customer centres.
Western Union has been providing money transfer services in Sri Lanka since 1995. Customers can receive money at more than 4,600 Agent locations2 across the country or directly into bank accounts from participating countries.
“As more Sri Lankans seek employment opportunities abroad, we are extremely proud to be able to work together to connect the Sri Lankan diaspora from nearly every country in the world, by enabling money movement to their families and loved ones in Sri Lanka,” said Sohini Rajola, Regional Vice President, South Asia and Indochina, Western Union.
“We believe that when money moves, good things happen. Western Union is always committed to enabling individuals, families and friends to securely and conveniently send and receive money,” she said.
Sri Lanka was one of the top five remittance receiving countries in South Asia in 2017, according to the Migration and Remittances Brief by World Bank,
“Many Sri Lankans choose to live and work overseas and remit money to support their loved ones back home, contributing significantly to shaping the local and national economy. The reliability and ease of these transactions is what many families across the island rely on, and this is part of the rationale driving the agreement between our two organizations,” said Kalum Wijesooriya, AGM - Deposits & Remittances, HNB.
“HNB is delighted to be collaborating with Western Union and providing customers with access to the speed, convenience and reliability of Western Union, and their extensive global network spanning over 200 countries and territories and 130 international currencies,” he said.
Operating across 251 branches island-wide HNB today stands as Sri Lanka’s largest, most successful and most innovative private sector commercial bank. The bank continues to win local and international accolades in recognition of its outstanding efforts in building a new paradigm of digitally empowered banking in Sri Lanka.
Since making its first appearance on the prestigious Banker Magazine’s list of Top 1,000 banks, HNB has today soared the top of the list among Sri Lankan banks in addition to being recognized as Bank of the Year 2018 and being awarded Best Retail Bank in Sri Lanka for the 10th time at the Asian Banker Awards.
HNB also stands as the most profitable private banking group in the country, maintaining a strong and growing presence across retail, corporate and Micro and SME sectors, extending cutting edge banking and financial services to a wide range of clients.
HNB's leadership in technology was most recently recognized with the Bank's ATM network being awarded the 'Best ATM Network of the Year' at the Lanka Pay Technovation Awards 2017. Additionally, HNB was also awarded Best SME Bank, Best Digital Bank and Best Cash Management Bank at the Asiamoney Country Awards while the International Finance Magazine presented HNB with the award for Most Innovative Microfinance Bank in Sri Lanka.
HNB also stands as the first local Bank in Sri Lanka to receive an international rating on par with the sovereign from Moody’s Investor Services while maintaining a national long term rating of AA - (lka) from Fitch Ratings Lanka Ltd.
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 March 31, 2018, our network included over 550,000 retail agent locations offering Western Union, Vigo or Orlandi Valuta 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 2017, is available in more than 40 countries to move money around the world. In 2017, we moved over $300 billion in principal in nearly 130 currencies and processed 32 transactions every second across all our services. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com