C2016 Western Union |link| < Authentic – 2024 >

The most notable event involving Western Union in 2016 was the culmination of long-running investigations into its business practices, which led to a historic settlement shortly after the year ended.

In 2016, that engine became a competitive moat. While fintechs struggled to pass "know your customer" (KYC) checks in rural Africa or Southeast Asia, Western Union agents could verify a government ID on the spot. The company processed over 30,000 suspicious activity reports (SARs) monthly, keeping regulators happy while startups got fined. c2016 western union

Western Union won the "B2B Innovation of the Year" award for its WU EDGE platform , which focused on small and medium-sized enterprises. The most notable event involving Western Union in