Digital money transfer service MoneyGram (NASDAQ: MGI) announced on Friday it has formed a new partnership with Korean remittance startup, Sentbe. MoneyGram reported the collaboration between it and Sentbe aligns with MoneyGram’s goal of providing consumers with an expanded range of digital money transfer options.
“Enhancing our product offering in South Korea is a strategic move that accelerates our digital transformation in the region. With an increasing number of foreign residents and growing numbers of working populations from neighboring Asian countries, working with Sentbe will further improve financial inclusion in South Korea and we are proud to share a legacy of customer commitment through this collaboration.”
Alex Choi, CEO of Sentbe, went on to add:
“Innovation that simplifies the money transfer process is our top priority and there is not a more perfect time than now to embark on this move with MoneyGram. We are now in an even better position to meet demand for tech-savvy solutions within this space and look forward to the change this will bring to the diverse community we serve.”