MoneyGram Unveils Dynamic Alternative Financial Services Platform

November 3, 2014

DALLAS, Texas, Nov. 3, 2014 (GLOBE NEWSWIRE) -- MoneyGram (NASDAQ:MGI), a leading global money transfer and payment services company, unveils MGiAlloy™, a technology platform that transforms the way businesses and financial institutions provide consumers access to alternative financial services.

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The MGiAlloy™ platform fuses multiple financial service products from leading providers into an integrated suite and unified interface. When MGiAlloy™ is deployed in kiosks, online, mobile, or at business points-of-sale, the platform creates a one-stop-shop experience for consumers to transfer money, pay bills, cash checks, top-up prepaid cards and more. The platform is in use today at leading retailers, including Tesco in the U.K., H&R Block Financial Services, select CVS stores, and hundreds of bank branches in the U.S.

"Today's competitive environment in financial services challenges businesses to establish long-term relationships with customers who want quick and convenient ways to manage their money," says Peter Ohser, MoneyGram's executive vice president of U.S. and Canada. "Current market solutions do not link these products and services together on one technology platform. With MGiAlloy™, financial institutions, retailers and mobile network operators can more efficiently attract and retain consumers who depend on alternative financial services for money management."

Ingo Money, the leading provider for check guarantee, has integrated their systems with MGiAlloy™. When businesses deploy the platform, they can offer access to immediate, good-funds through Ingo's check cashing services.

"Ingo's clients need our services to provide consumers with quick, secure and easy access to their money," says Drew Edwards, Ingo Money's CEO. "Being part of the MGiAlloy™ platform streamlines the transaction process at the point-of-sale to improve the consumer experience."

MoneyGram already provides quick and reliable access to financial services for millions of people who are not fully served by traditional institutions around the world. The platform is part of the Company's strategy to offer consumers greater convenience and a frictionless experience across every channel.

"With the introduction of MGiAlloy™, MoneyGram is deploying a world-class consumer interface that enables businesses to offer a variety of financial services products not limited to money transfer or bill payment through one simple integration," says Pamela H. Patsley, MoneyGram's chairman and CEO. "Whether consumers want to send money, cash a check, pay a bill or load a prepaid card, or do it all, businesses can offer any combination of services through one seamless transaction. Through MGiAlloy™, MoneyGram is expanding our services with business partners and financial institutions in a role beyond the money transfer agent relationship."

About MoneyGram International, Inc.

MoneyGram, a leading money transfer company, provides essential services to consumers who are not fully served by traditional financial institutions. MoneyGram offers worldwide money transfer services in more than 200 countries and territories through a global network of 347,000 agent locations, including retailers, international post offices and banks. MoneyGram also offers bill payment services, issues money orders and processes official checks.

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Source: MoneyGram International, Inc.

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