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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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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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