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Western Union Partners To Improve Stock Market Access

Western Union Business Solutions, operating within currency exchange, said Tuesday that it has signed an agreement with DriveWealth to bring better access to the stock market to individual investors.

The companies said in a press release that the deal lets investors add money to their DriveWealth U.S.-based investment accounts from their individual bank accounts, either through U.S. or international holdings. The service is available across a number of currencies, said the firms. The individual investors, according to the release, now can send money through the Western Union Business Solutions bank transfer service. The currency exchange will allow those transfers to be converted into U.S. dollars. The process, noted Western Union, offers “a reliable and efficient way to initiate electronic transfers.”

“In today’s markets, investors want to access opportunities immediately and need to be able to trade instantly. Western Union Business Solutions is committed to helping its clients move money for better across the world, quickly and efficiently. This agreement will help to make the U.S. stock market more accessible to individual investors at the touch of a button, providing them with greater opportunities to grow their personal wealth,” read a statement from Kerry Agiasotis, who serves as president at Western Union Business Solutions.

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LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

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