BWI: MoneyGram International and Bank of Baroda Partner to Offer Remittances

Press release from Business Wire India
Source: MoneyGram International
Wednesday, December 15, 2010 12:48 PM IST (07:18 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst
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MoneyGram International and Bank of Baroda Partner to Offer Remittances
Bank will soon add 2,000 Locations to MoneyGram Network

Mumbai, Maharashtra, India, Wednesday, December 15, 2010 -- (Business Wire India) -- MoneyGram International, a global leader in the money transfer industry, and Bank of Baroda have announced they have joined forces to provide global money transfer services. Bank of Baroda was signed as MoneyGram's international agent network under super-agent UAE Exchange. Bank of Baroda, established in 1908, will soon offer MoneyGram money transfer services at 2,000 locations across all of India.

"MoneyGram is pleased to add Bank of Baroda to our roster of agents," said Harsh Lambah, Regional Director of MoneyGram. "Bank of Baroda has a strong national and international presence and is well-established with consumers across the country. We know that together we will provide reliable and convenient money transfer services to the tens of thousands of customers who rely on us to meet daily financial needs."

Bank of Baroda, which has a large number of branches throughout India and 81 locations in other countries, will expand MoneyGram's presence in key cities across India. Including Bank of Baroda locations, MoneyGram has over 30,000 agent locations throughout the country.

"We are glad to add MoneyGram services to our Bank branches in key locations specifically in Ahmedabad, Bangalore, Baroda, Chennai, Delhi, Hyderabad, Kerala, Kolkata, and Mumbai," said Shri N.S.Srinath, Executive Director of Bank of Baroda. "MoneyGram offers us the opportunity to enhance our service offerings to meet our customer's diverse financial needs."

"UAE Exchange has been working with MoneyGram for eight years to much success," said George Antony, Country Head of UAE Exchange. "We are pleased to sign on an established institution such as Bank of Baroda as a sub-agent that will provide MoneyGram services."

About MoneyGram International

MoneyGram International, a leading global payments services company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers money transfer services worldwide and bill payment services in the United States through a global network of more than 207,000 agent locations-including retailers, international post offices and financial institutions-in more than 190 countries and territories around the world. To learn more about money transfer or bill payment at an agent location or online, please visit www.moneygram.com or connect with us on Facebook.


CONTACT DETAILS
Gautam Kalro, Regional Manager - South & West India,Sri Lanka & Maldives, MoneyGram International, +91 (22) 67619500, gkalro@moneygram.com

KEYWORDS
CONSUMER, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst

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