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Dec 03, 2019 | News Releases

Western Union and Fintech Devance Solutions team up to digitize the relationship between treasurers and dealing rooms

Paris - December 3rd, 2019 –Western Union (NYSE: WU), a leader in cross-border, cross-currency money movement and payments, today announces a proposed collaboration between its cross-border payments and foreign exchange risk management division, Western Union Business Solutions, and Devance Solutions, a French Fintech specialized in Artificial Intelligence.

Marc-Elie Caspar, France & Benelux Director at Western Union Business Solutions, explains: "Through this collaboration with Devance Solutions, a French innovative start-up in the field of Artificial Intelligence, Western Union Business Solutions expects to bring a totally new digital experience to corporate treasurers. Client relationships can evolve into a true "e-dealing room" environment in which clients can monitor useful market analysis, benefit from the knowledge of our experts in real time, and ultimately place orders that seize market opportunities. This is invaluable for anticipating and reacting in the foreign exchange market, allowing better preparation and oversight in an uncertain environment.”

Using the Devance platform, Western Union Business Solutions' corporate clients in France should have access to consolidated market analysis giving them valuable and customized insight to fluctuation of currencies. Access to the Devance platform should enable treasurers to digitize their relationships with their account manager and develop relevant and customized currency hedging strategies. Finally, through the platform, treasurers will be able to engage with each other to discuss mutual business challenges, within a closed online forum.

Olivier Misse, founder and president of Devance Solutions adds: "Devance Solutions aims to make life easier for treasurers, whether in terms of access to information, as well as in fluidity and responsiveness in their exchanges with their dealing room. The offer goes even further as it gives them the opportunity to build their own network.”

Devance Solutions is backed by the expertise and resources provided by Synechron, a consulting firm specializing in digital transformation for financial services companies, complemented by their deep knowledge in implementing solutions.

Laurent Salvinien, Managing Director of Synechron France, completes: “Synechron has decided to partner with Devance Solutions by providing them with technical expertise and know-how in the field of artificial intelligence, because we believe in this messaging platform solution which has the potential of becoming a reference in the years to come".

Details of this proposed collaboration between Western Union Business Solutions and Devance Solutions was officially unveiled during the Journées de l’AFTE on 19 and 20 November 2019 at the Palais Brongniart and should initially launch in France.

For organizations seeking a partner to optimize cross-border payments, Western Union Business Solutions equips you with the solutions you need to send, receive, and manage international payments.  Our extensive global network, spanning 200 countries/territories and 130 currencies, combined with our knowledge of local markets enables you to manage international payments simply, effectively and efficiently.

About Western Union

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 September 30, 2019, our network included over 550,000 retail agent locations offering our 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 2018, is available in 75 countries, plus additional territories, to move money around the world. 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.

About Devance Solutions

 Devance Solutions is a Fintech created in March 2016 in Paris, specialized in financial messaging. Olivier Misse, CEO and Founder has worked as a "Structurer" in the dealing room of major international investment banks. The team is completed by two co-founders, including a Chief Technology Officer and a Business Developer.

About Synechron

Synechron is a global consulting and technology organization providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Based in New York, the company has 18 offices around the globe, with over 8,000 employees producing more than $500M in annual revenue. If you would like to find out more about the company, please visit the website or our LinkedIn community.

Press Contacts

Western Union

Kaéna Haloua - PR Director
kaena.haloua@omnicomprgroup.com / +33 6 77 79 79 18 89

Devance Solutions

Olivier Misse - CEO
olivier.misse@devancesolutions.com / +33 6 95 51 81 47

Synechron

Karin Bendayan - Marketing Director
Karin.bendayan@synechron.com