MoneyGram International, Inc. (NASDAQ: MGI), a global leader in cross-border P2P payments and money transfers, released additional details on the technology solutions and systems powering the company’s digital transformation. The company is working with Google Cloud and Amazon Web Services (AWS) to deploy a multi-cloud strategy that will maximize capability benefits, while implementing other data-driven solutions to enhance customer experience across all touchpoints.
“Over the last few years, we’ve invested in the latest, cutting-edge technologies to build an agile organization ready to scale,” said Kamila Chytil, MoneyGram Chief Operating Officer. “No part of the business has been left untouched by our digital transformation as we’ve worked tirelessly to build a modern, mobile, and API-driven platform and expand our direct to consumer digital capabilities to over 67 countries.”
MoneyGram is entering the second year of deploying its multi-cloud strategy to maximize flexibility, while reducing risk and costs. MoneyGram is integrating with the leader in cloud-based applications, AWS, to bring scale to the company’s transaction processing engine. Additionally, MoneyGram is using Google Cloud as its data and analytics engine to better understand customer behavior and deliver a more personalized experience.
These technological enhancements are in addition to the work MoneyGram is undergoing through its strategic partnership with Ripple Labs as the two companies lead the industry in using blockchain technology to advance the digital movement of money around the world.
“Our digital transformation has enabled the company to streamline its operations and significantly reduce expenses,” added Chytil. “The savings have facilitated our investments into direct-to-consumer digital channels, the fastest growing part of our money transfer business.”