Early in 2021, monobank announced the launch of Western Union international money transfers service. Using the monobank mobile application, you can send or receive money in a few clicks. The project was launched on the basis of Corezoid Process Engine in cooperation with Middleware Inc. (USA), a technology partner of monobank and Western Union.
In 2020 $2.7 billion was transferred to Ukraine through the money transfer systems. Most of the remittances came from the USA, Italy, Israel, Russia and Germany. For many years Western Union has been the market leader for international money transfers to Ukraine with a market share of more than 60%. Western Union goes significantly ahead of its closest competitors MoneyGram (24%), RIA (10%) and INTELEXPRESS (5%).
By mid-2021, monobank serves almost 4 million customers, and Western Union money transfers in the monobank mobile application are one of the most popular services offered by the bank.