Western Union analyzes customer transactions for advertising purposes

Western Union inaugurates Media Network, an entity dedicated to advertising. Using data from its international transactions, the company aims to offer personalized advertising to its customers. Deployed on several media and in several regions of the world, this initiative should enable Western Union to diversify its revenues and capitalize on the diversity of its customers.

FACTS

• Western Union launches a new branch called Western Union Media Network.

• With this media activity, the company aims to offer personalized, judicious advertising channels for customers and professionals alike.

• In concrete terms, Western Union relies on its transaction data. Thanks to its international money transfer business, the data is diversified and can be used to target, among other things, the user community.

• The network's main targets would be multicultural consumers and local communities. Brands will thus benefit from the right level of data accuracy to offer users relevant advertising content.

• Western Union has identified several distribution channels, including the company's app and website, digital screens in stores, and connected video platforms.

• The service is expected to be widely deployed in the United States, Canada, the United Kingdom, France, Germany, Italy, Spain, Latin America and the APAC (Asia-Pacific) region.

CHALLENGES

• Offer useful, consistent content: Western Union capitalizes on its knowledge and understanding of the multicultural and diverse audiences in its territories. Its aim is to offer engaging advertising that brings value to users.

• Diversifying revenues: By launching an advertising network, Western Union is diversifying its revenues beyond cross-border payments. Exploiting transactional data via an advertising network will enable the company to monetize data while offering precise, segmented advertising.

• Capitalize on the diversity of customer profiles: Western Union finds an interesting way to generate new revenues, while offering a relatively unique panel of data due to its activity and worldwide presence.

MARKET PERSPECTIVE

• The quest for personalized customer experiences is driving financial players to propose targeted offers, reinforcing brands' interest in direct engagement with specific audiences.

• Western Union is not the first player in the ecosystem to turn to advertising. Last June, for example, Paypal announced the launch of a dedicated platform.