Western Union partners with Isabel Group to provide B2B payments

With the accelerating digital transformation of commercial payments, another entrenched incumbent is being forced to revamp its offering with a fintech partnership. The latest example is venerable money transfer giant Western Union, which dates back to before the American Civil War.

This week, the business division of Western Union, Western Union Business Solution has teamed up with Belgium’s Isabel Group which provides multi-bank service to consumers and businesses and other fintechs.

As part of the partnership, Western Union Business Solution will provide worldwide connectivity to Isabel’s multi-banking platform that will enable organisations to manage their banking and manage payments.  The initial focus will be in Belgium, Western Union’s press release said.

Isabel 6 platform currently has over 70,000 clients and the now its network can access Western Union’s network which is spread over 200 countries and 130 currencies. With this, Isabel 6 platform users would be able to manage their international payments.

“We equip and support organizations around the world that are looking for a partner to optimize cross-border payments with solutions for sending, receiving and managing international payments,” said Marc-Elie Caspar, country director France & Benelux at Western Union Business Solutions.

Isabel Group provides financial services which help organisations to have insights of their business financial flows. According to the company, 65,000 businesses, 3,000 accounting firms, 150 software partners, and 30 banks are working with or linked to Isabel Group’s software: Isabel 6.