Solutions will help businesses execute a simple but effective risk
management plan
Western
Union Business Solutions, a leader in global payment services and
division of the Western Union Company (NYSE:WU), today announced the
launch of a new range of Risk Management Solutions, to make it easier
for SME’s to run their businesses in the Czech Republic.
The full range of risk management solutions today are designed for
businesses of every size, engaged in cross-border trade. The Western
Union Business Solutions risk management solutions include a range of
forwards to help small and medium sized businesses. For example,
companies can now lock in a current exchange rate for a set period of
time and flexible forwards, also known as currency options. This will
allow them to effectively manage risk while taking advantage of positive
changes in market exchange rates.
The addition of these risk management solutions provide protection
against adverse market developments while giving businesses the
opportunity to participate in favourable moves, usually for zero cost.
The combination of flexible forwards and FX intelligence supports
Western Union Business Solutions’ vision for a simple and cost effective
way of making international payments.
“By offering a full suite of risk management solutions to small and
medium-sized enterprises (SMEs), we can help businesses execute a simple
but effective risk management plan with the right combination of risk
management solutions to protect against currency volatility and
ultimately support business growth,” said Tony Crivelli, Vice
President, UK & EMEA Western Union Business Solutions.
“SMEs face many challenges when making international payments that can
have a negative impact on their bottom line. This causes difficulty in
forecasting cash requirements, and puts their profit margins at risk,”
added Jitka Kunstová, Czech Country Manager, Western Union
Business Solutions. “The introduction of flexible forwards will support
business development and reduce risk of foreign payables and
receivables.”
Currency Options in the Czech Republic will be sold by Western Union
Business Solutions through Western Union’s wholly owned subsidiary,
Western Union International Bank GmbH, organizační složka. Western Union
Business Solutions now offers Currency Option products in the UK,
Australia, New Zealand, Singapore, Canada, United States of America,
Austria, Germany, and France.
Western Union International Bank GmbH is a bank registered on a list of
banks maintained by the Austrian Financial Market Authority
(Finanzmarktaufsicht). Western Union International Bank GmbH,
organizační složka is registered on a list of banks and branches of
foreign banks maintained by the Czech National Bank.
Western Union International Bank GmbH, organizační složka is registered
in the Czech Commercial Register held by the Municipal Court in Prague,
identification number 015 55 332, has a registered place of business at
Václavské náměstí 62, 110 00 Prague 1, Czech Republic, and is a branch
of Western Union International Bank GmbH (registration number 256184t)
Schubertring 11, 1010 Vienna , Austria
About Western Union Business Solutions
Western
Union Business Solutions enables companies of all sizes to send and
receive international payments and manage global cash flow, creating
unique solutions tailored to suit their individual needs. It is a
business unit of The Western Union Company (NYSE: WU), a leading nonbank
provider of cross border payments, which offers Business Solutions
services in over 30 countries. Clients are supported by a network of
trading offices, strategic banking relationships and a global clearing
network and can send cross-border foreign exchange payments in more than
135 currencies.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment
services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western
Union Business Solutions branded payment services, Western Union
provides consumers and businesses with fast, reliable and convenient
ways to send and receive money around the world, to send payments and to
purchase money orders. As of September 30, 2015, the Western Union, Vigo
and Orlandi Valuta branded services were offered through a combined
network of over 500,000 agent locations in 200 countries and territories
and over 100,000 ATMs and kiosks, and included the capability to send
money to hundreds of millions of accounts. In 2014, The Western Union
Company completed 255 million consumer-to-consumer transactions
worldwide, moving $85 billion of principal between consumers, and 484
million business payments. For more information, visit www.WesternUnion.com.
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