MoneyGram and e& international Expand Partnership, Enabling 160M Consumers Across Asia, Africa and the Middle East to Send Money Globally

MoneyGram International and e& international | September 21, 2022 | Read time : 03:11 min

MoneyGram and e& international Expand Partnership
MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, and e& international from e& (formerly known as Etisalat Group), one of the world's leading technology and investment conglomerates, today announced an expansion to their strategic partnership. The expansion enables e& international's large and fast-growing customer base of nearly 160 million to use the e& money mobile wallet to send money around the world in near real-time. Through MoneyGram's expansive network of mobile wallet operators, bank account and card deposit services, and retail locations, recipients around the world now have the ability to choose how to receive money based on their unique needs.

"As a result of our strategy to invest in our digital network that now extends to over 100 countries, we're seeing increased demand to access our global platform. As more digital partners seek to embed our leading fintech capabilities into their service offerings, we see a significant growth opportunity to efficiently add transactions to our scalable platform, Our collaborative relationship with e& has grown to become one of our strongest and most successful digital partnerships. We're thrilled to continue to expand our relationship as their preferred partner for cross-border payments across all of the 16 markets in which they operate." 

- Alex Holmes, MoneyGram Chairman and CEO

Established over four decades ago in the United Arab Emirates (UAE) as the country's first telecom operator, Etisalat Group has changed its brand identity to e& and expanded to over 16 markets across Africa, Asia and the Middle East. The continued success and expansion of the MoneyGram and e& international partnership builds upon the Company's strong momentum as it scales its high-growth digital business across the region.

As more people across the world embrace digital financial services, we are continuously seeking new ways to empower our customers with the best solutions, and embark on value-adding partnerships that help them to access financial services quickly and easily, International money transfer is a crucial service that enables our customers across our footprint to send and receive money from their families, given the large expat population living in the markets where we operate, said Mikhail Gerchuk, CEO, e& international.

We have always aimed to revolutionize customer experience through innovative solutions that help meet the financial needs of our customers, The strategic partnership with MoneyGram has been enabling us to continue building this solid foundation of growth, adding to the array of financial products and services that enhance and add value to our customers' lives. We will continue to work with MoneyGram and its vast network for the benefit of e& money subscribers while addressing the growing demand for a financial super app marketplace, said Khalifa Al Shamsi, CEO, e& life.

The service is now live throughout Saudi Arabia, the United Arab Emirates and Afghanistan with Egypt, Pakistan and several other markets in Africa expected to launch in the next few months.

About MoneyGram International, Inc.
MoneyGram International, Inc., a global leader in the evolution of digital P2P payments, delivers innovative financial solutions to connect the world's communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people in the last five years. The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's top brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers. MoneyGram is also a leader in pioneering cross-border payment innovation and blockchain-enabled settlement.

About e& international
Etisalat Group has changed its brand identity to e&, effective from 23 February 2022. Its strategy aims to accelerate growth through the creation of a resilient business model representing the Group's main business pillars. The telecoms business currently continues to be led by Etisalat by e& in e&'s home market and by existing subsidiaries for e& international, upholding the Group's rich telecoms heritage, bolstering the strong telecoms network and maximizing value for the Group's various customer segments. Ramping up the digital services for individual customers to elevate their digital-first lifestyle, e& life brings next-generation technologies through smart connectivity platforms in entertainment, retail and financial technology. To enable the digital transformation of governments, large-scale enterprises and corporates, e& enterprise focuses on maximizing value through its end-to-end solutions in cybersecurity, cloud, Internet of Things (IoT) and Artificial Intelligence (AI), as well as deploying mega projects. e& capital allows the Group to focus its efforts on driving new mergers and acquisitions while maximizing shareholder value and strengthening global presence.


The globalization of corporate operations has created remarkable opportunities for business, along with creating corresponding global customs risks. Risk management has emerged among global traders as a primary objective of the corporate import function, and companies are increasingly undertaking efforts to proactively manage customs risks on a coordinated global basis. Process and control-focused approaches have proven worthwhile. Many of the world’s leading companies are achieving risk mitigation through globally oriented internal control systems that embrace coordinated corporate-wide standards, yet respect and allow for interplay of unique laws, cultures and operations.


The globalization of corporate operations has created remarkable opportunities for business, along with creating corresponding global customs risks. Risk management has emerged among global traders as a primary objective of the corporate import function, and companies are increasingly undertaking efforts to proactively manage customs risks on a coordinated global basis. Process and control-focused approaches have proven worthwhile. Many of the world’s leading companies are achieving risk mitigation through globally oriented internal control systems that embrace coordinated corporate-wide standards, yet respect and allow for interplay of unique laws, cultures and operations.

Related News


BMO partners with FISPAN to simplify business banking for clients

FISPAN | November 18, 2022

BMO and FISPAN have partnered to offer BMO Online Banking for Business clients direct access to their day-to-day banking from their Enterprise Resource Planning (ERP) or accounting system. By integrating payments, reporting and reconciliation with these systems, clients now have a simpler, more efficient way to perform and manage their business transactions. Without leaving their ERP system, BMO's business clients will be able to: View real-time account and balance information Send wire and other domestic electronic payments Automatically reconcile their transactions "We recognize that our clients have competing demands and as their banking partner, we're focused on helping them make progress by delivering seamless and simple solutions, This partnership aligns perfectly with our commitment to deliver leading digital experiences to our customers giving them more time to focus on what matters most – growing their business." -Sean Ellery, Head, Digital and Innovation, Commercial Banking, BMO This partnership represents BMO's continued investment in leveraging the power of Open Banking to tailor their services to fit the varying needs of its Commercial Banking clients: BMO recently announced a partnership with Xero allowing business clients to connect and manage their Online Banking and Xero accounts BMO's Developer Portal makes banking APIs available to clients who want to build custom integrations between their business systems and BMO accounts We are thrilled to be working with BMO on these integrations, We share BMO's emphasis on innovation and a better business banking experience for their clients making this partnership a perfect fit,says Lisa Shields, CEO, FISPAN. FISPAN's open architecture simplifies and expedites direct integration into ERP systems, This partnership is another example of BMO securing industry-leading partnerships with providers that help us to meet our client's growing needs,said Gurreet Sidhu, CIO, Treasury and Payment Solutions, BMO. BMO is paving the way as a digitally enabled, future-ready bank harnessing the potential of emerging technologies for real-time information and processing. As the industry moves towards Open Banking, BMO is supporting customers by creating a robust API infrastructure, underpinned by security, to enable safe and secure financial decisions. About BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.07 trillion as of July 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets. About FISPAN FISPAN is the market leader in ERP-banking. Our turn-key platform makes it simple for banks to offer business banking services embedded in their clients' business application. FISPAN powers best-in-class commercial banking experiences by removing friction and adding value to how the bank's clients operate their business. Founded in 2016, FISPAN is headquartered in Vancouver, BC and led by CEO and founder, Lisa Shields.

Read More


Illuminate Financial And Barclays Expand Strategic Partnership To Back FinTech Startups

Barclays | October 27, 2022

Illuminate Financial, the London-based venture capital firm investing in financial services technology companies, today announced an expansion of its longstanding partnership with Barclays, under which the bank will become a limited partner in Illuminate Financial's latest venture capital strategy. Barclays joins global financial institutions including Jefferies, J.P. Morgan, Deutsche Börse Group, Citi, and S&P Global as an investor in Illuminate Financial which backs early-stage FinTech and enterprise software companies driving innovation in the financial services industry. Barclays was an investor in Illuminate Financial's previous $100 million FinTech fund which was a 2019 vintage. "We're delighted to continue our longstanding partnership with Illuminate Financial. This investment will enable Barclays to play an even more meaningful role in the financial market's innovation ecosystem." -Andy Challis, Co-Head of Principal Investments at Barclays Illuminate Financial is led by Mark Beeston, Founder and Managing Partner, alongside partners Alexander Ross and Rezso Szabo. The venture firm was founded in 2014 and to date has invested in more than 30 late-Seed to Series A companies addressing core challenges across financial services including digital assets infrastructure, climate and ESG, data and private markets, as well as broader enterprise solutions that target the sector. Mark Beeston, Founder and Managing Partner at Illuminate Financial, commented, It has been our privilege to work with Barclays for several years and welcome them back as an investor for the second time in our venture capital strategy. Illuminate Financial's investors represent a unique combination of global financial institutions, extending the firm's deep domain expertise and go-to-market value-add for our portfolio. Disclosure Nothing in this press release should be viewed as a statement of the named institutions' experience with, or endorsement of, Illuminate Financial and it is not known whether the listed institutions approve of Illuminate Financial, or the advisory services provided. Past performance in not indicative of future results. The contents of this press release should not be construed as legal, tax, investment or other advice, or a recommendation to purchase or sell any particular security. About Illuminate Financial Management Illuminate Financial Management (Illuminate Financial) is a thesis-driven venture capital firm focused on FinTech and enterprise software companies defining the future of financial services. With offices in London, New York, and Singapore, Illuminate Financial's deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs and helps their portfolio companies achieve their full potential. About Barclays Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

Read More


GeoWealth Launches Investment Consulting Division, Introduces Manager Portal, and Expands Model Marketplace

GeoWealth | September 29, 2022

GeoWealth, a modern turnkey asset management platform (TAMP) built for registered investment advisors (RIAs), today announced several upgrades focused on providing RIAs with more personalization and choice in their investment management programs – including investment guidance, due diligence, service and support. To best serve their clients, contemporary advisors demand greater control, flexibility and customization when managing client portfolios. GeoWealth has responded by expanding its model marketplace, increasing its vetted manager menu by over 200 percent. Advisors leveraging GeoWealth’s proprietary platform have always had the flexibility to build their own models, select third-party model portfolios, or combine the two via custom Unified Managed Accounts (UMAs). GeoWealth has also further enhanced advisors’ ability to customize on the platform by onboarding Separately Managed Accounts (SMAs) and single asset class or “sleeve-level” strategies to be used as building blocks in UMA allocations. “Our mission is clear: to empower advisors by offering the technology, infrastructure and back-office resources they can leverage and customize to meet any client’s needs, We are laser focused on building the most RIA-friendly TAMP in the market and these new developments are indicative of our commitment to offering advisors additional customization and investment flexibility.” -Colin Falls, President at GeoWealth Investment Consulting Division For advisors looking for guidance and concierge-level support in building custom UMA solutions, GeoWealth is also announcing the launch of its internal Investment Consulting division. Following the recent hire of Jen Wing as Head of Asset Management in December 2021, GeoWealth has been shaping a hands-on, customizable service model for advisors who desire completely outsourced portfolio and UMA construction and maintenance while retaining their unique brand. Already well known as the technology-forward, modern TAMP, GeoWealth has grown primarily by way of firms managing their own model programs as well as with firms making their own manager selections, My team will be focused on the segment of the market that desires complete asset management support, including manager selection, portfolio construction, maintenance and white glove service,said Wing. New Manager Portal To better enable efficient model-level rebalancing and reallocating, GeoWealth is also announcing the release of its integrated Manager Portal module on the platform. The Manager Portal will allow third-party managers, as well as advisors managing client portfolios, to seamlessly communicate portfolio updates to the GeoWealth trading team for ultimate execution. Additionally, the portal allows asset managers to load their collateral directly to the GeoWealth Model Center for easy access by advisors. About GeoWealth GeoWealth is a turnkey asset management platform (TAMP) and financial technology solution built specifically for the needs of modern RIAs. GeoWealth’s user-friendly, cost-efficient, integrated technology enables advisors to access a diversified lineup of model portfolios and fully offload mid- and back-office responsibilities, including performance reporting, billing, portfolio accounting and more. Via its customizable open-architecture platform, GeoWealth enables advisors and firms to grow faster and serve clients more efficiently. Founded in 2010, GeoWealth is headquartered in Chicago, IL.

Read More