- Yogesh Sangle covers issues as diverse as technology usage, compliance and fraud in an interview with an online media outlet
- Sangle is Head of the Asia Pacific, Middle East and South Asia regions for the firm
- “I really hate it when anybody uses MoneyGram to carry out illicit activities and perpetuate any kind of crimes”, he tells Tech Wire Asia
A senior figure at major cross-border payments named MoneyGram has given an interview in which he outlined the company’s approach to technological innovation and security.
Yogesh Sangle, the firm’s Head of APAC, Middle East, and South Asia, spoke to Tech Wire Asia.
He said that the key aim of technology had to be for it to work as an “enabler” – and that it should always be doing something to help customers send money home.
“Technology should be an enabler. MoneyGram does not believe in [deploying] technology just for the sake of it, but to make the process of transferring money easier”, he argued.
He also ranged across a number of other topics, such as the firm’s partnerships with other international organisations, such as its one with Alipay in China.
“Whenever we are working with these partners, we are ensuring that we are solving customers need, and not just about launching a digital wallet”, he explained in the interview.
On the subject of compliance, he said that there was a need to acknowledge customers’ fears over fraud and the risks that might be posed to their money.
“At the end of the day, when you move money across borders, any regulator or customers are always concerned if the monies will be delivered to the intended recipients”, he argued.
In a strongly-worded reference to crime and fraud in the cross-border payments sector, he outlined what the firm was doing to stamp out problems.
“I really hate it when anybody uses MoneyGram to carry out illicit activities and perpetuate any kind of crimes. So we have invested a lot in technology to curb that. As a result, our fraud rate is by far the best in the industry”, he said.
There’s no doubt about it: technology is the key to MoneyGram’s success. The clue is of course in the name of the sector, online money transfer. Without the technological element, internet-based transactions would not be able to occur.
It’s interesting to hear Yogesh Sangle confirm publicly that the firm takes a strategic approach to the technology it uses, and that it doesn’t experiment with every tool it can get its hands on.
What was less surprising, though, was the tough condemnation of fraudsters. As in recent times, MoneyGram has invested in compliance technology, to help combat scams and alleviate any anxiety consumers have when sending money online.
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