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Ant Financial Appeals Directly To MoneyGram In Open Letter

Ant Financial Services Group, the finance arm of Alibaba that is embroiled in a bidding war for MoneyGram, issued a letter to MoneyGram employees, agents, customers and partners Thursday (April 6) in which it expressed its commitment to the deal and the value of the MoneyGram team.

“MoneyGram’s management team and employees are the backbone of the organization. We want to work with you, invest in your business and technology, and create even more career growth opportunities for MoneyGram employees in the U.S. and around the world,” Doug Feagin, president of Ant Financial International, said in the letter. “Following the transaction, customers will continue to access the same quick, reliable and affordable remittance services they’ve come to know and trust. By connecting the Ant Financial and MoneyGram ecosystems, we envision an enhanced financial services platform that puts the customer first, no matter where they are in the world.”

Feagin went on to say that once the companies merge, MoneyGram’s agents and partners will have access to what he said is new solutions and that in the years to come the combined company will expand beyond remittance. As for the customers of the combined company, Feagin said protecting user data and information is “of paramount importance to us.” He went on to say “any data collected on MoneyGram users in the U.S. will continue to reside on the same ironclad U.S.-based servers that meet the high security standards your customers trust today. We also plan to further invest in MoneyGram’s global compliance and anti-money-laundering programs.”

Feagin pointed to Ant Financial’s partnership in the U.S. with EyeVerify, which it acquired last year and is based in Kansas City. Feagin said Ant has made “significant investments in the business, nearly doubled its workforce in the U.S. and helped grow this American startup into a stronger company. We intend to do the same with MoneyGram — and we are excited to help MoneyGram expand its business globally for the digital future of the remittance industry.”

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