Foreign Exchange | Case Studies
How AMCO Drilling UK took advantage of our exotic currency offering to meet their expanding international customer base.
AMCO Drilling UK has a global client base and needs to make weekly international payments in a wide range of currencies. Their previous international payments platform had limited currency capabilities, so AMCO decided to switch to WU® GlobalPay as a platform that can manage their overseas transactions and make bulk payments. They also took advantage of the Collaboration Centre in WU® EDGE which allows them to connect with business partners and manage foreign invoices. As a result, this has considerably reduced their team’s administrative tasks and they can transact in multiple currencies using one provider.
Inefficient payments platform with limited currencies
WU® GlobalPay and WU® Edge
Efficient process and access to exotic currencies
The Challenge: A complex and limiting payments platform
AMCO Drilling UK Limited is a UK based global exploratory drilling company that delivers a wide selection of drilling services. Based on a reputation of high quality and efficient service delivery, the company’s operations have expanded to service the operational requirements of a growing number of international clients.
With a global client base comes the need for efficient international payments and foreign exchange capabilities. The company makes weekly payments in USD, EUR and XOF, as well as requiring liquidity in a number of exotic currencies for project work.
“Our previous international payments platform was slow and cumbersome”, explains Jennifer Harrison, Finance Manager, AMCO Drilling UK Limited. “The platform wasn’t intuitive, which was a burden on our resources that could have been focused on more strategic tasks.
“In addition, the range of currencies we had access to on the old platform was limited which became problematic as our business grew and we took on project work in more international locations.”
AMCO began the search for an efficient and comprehensive platform to facilitate its growing international payment needs.
“We now have the ability to transact in all our required exotic currencies using the one provider.”
-- Jennifer Harrison, Finance Manager, AMCO Drilling UK Limited
The Solution: Simple online payment platforms
AMCO was introduced to Western Union Business Solutions by an industry peer and was quickly attracted to the simplified international payment processes and expansive currency capabilities on offer.
AMCO now uses the WU GlobalPay Platform and the WU EDGE Platform from Western Union Business Solutions to manage its overseas transactions. WU GlobalPay is an online tool that allows AMCO to easily make bulk payment via file uploads and reduces administrative tasks by pre-validating beneficiary data. WU EDGE provides AMCO with access to the Collaboration Centre, which connect business partners, and powerful tools for managing cash flow and foreign invoicing, while also enabling quick and easy payments in 54 currencies, with beneficiaries also on the EDGE network.
Both platforms offer access to more than 130 currencies and a global network of 200 countries and territories.
The Results: Students save, and payments arrive in full
Working with Western Union Business Solutions, AMCO now has access to payment platforms that match its own comprehensive and efficient approach.
“The international payments process has been simplified and doesn’t eat up as much time for our team, especially now that beneficiary data is pre-validated for us. We now have the ability to transact in all our required exotic currencies using the one provider.
“We have also been impressed with the team at Western Union Business Solutions. Our account manager is attentive, diligent and helpful. I feel confident that any queries I may have will be dealt with efficiently, which is great. I would definitely recommend Western Union Business Solutions for its simple, efficient service offering,” concludes Jennifer.
Western Union Business Solutions is a trusted partner for incoming and outgoing international payments and foreign exchange. Speak to a Payments specialist today to find out how we can help your institution make considerable cost and time savings.Contact an Payments Specialist