Valyou Sdn Bhd

Applicant name: Valyou Sdn Bhd
Innovation Name: The Valyou – Western Union partnership offers customers access and convenience in both the sending and receiving sides.
Innovation Type: Service
Website: http://www.valyou.com.my
Mission: Valyou – Western Union Partnership: A strategic partnerships promoting financial inclusion
Innovation Description: There are over 1.7 million migrant workers in Malaysia who are largely excluded from the mainstream financial services normally offered by retail banks due to their unreachable locations, limited operating hours and expensive banking fees and charges.

Our strategic partnership provides a unique remittance solution enabling customers to send money from the Valyou Mobile Wallet directly to a Western Union Cash Pick Up location.

Valyou has a large and growing network of Cash In merchants concentrating in migrant populated and underserved locations in Malaysia. While Western Union is synonymous with their wide cash out point coverage internationally.

Access for both sending and receiving sides is the most important factor in the success of this model, as such Valyou has over 2K merchants, while Western Union has more than 525,000 agent locations in over 200 countries and territories respectively.
Status of Innovation: In-market
Innovation Active Since: 07/18/2019
Applicant Type: Private Company
Headquarter City: Kuala Lumpur
Headquarter Country: Malaysia
Year Founded: 2016

Main Category Choice: Remittance Synergies
Why do you think you should win this category?:
Innovation active since – April 1, 2019

Valyou pioneered the money transfer solution using a mobile wallet app in Malaysia, connecting our customers to popular remittance partners worldwide, through their phones.

With Valyou e-wallet on their smartphone, customers can now send money at any time, from anywhere to Western Union instantly, within just a few clicks. Western Union has a substantial footprint of 550K Cash Out points internationally, while Valyou has over 1.5K Cash In Cash Out merchants in Malaysia.

Customers no longer face the hassle of traveling far, spending money on transportation and having to endure long queues. And their beneficiary can collect money at any Western Union offices around the world (currently piloting in 8 countries in Asia and Africa).

This strategic partnership not only offers access to both the senders and receivers, but also attractive rates and sending fees. While at the same time assurance that the money transfers are being managed securely, safely and reliably.

Secondary Category Choice: End-user Experience
Why do you think you should win this category?
Valyou has penetrated the local remittance industry digitally, shifting mindsets of migrants who are extremely accustomed to traditional remittance channels to now sending money with the Valyou Mobile wallet app, in 2.5 years.

This partnership has provided customers with more convenience and accessibility. The integration to Western Union enabled Valyou to provide real time integration and instant transfers in the last mile delivery. The receivers are now able to get funds at all Western Union Cash Out points within their vicinity.

True to Valyou’s vision of Enhancing Lives, the partnership with Western Union has increased accessibility and convenience for the migrant worker send their money home safely and reliably.

Full Name: Jasbir Kaur
Role: Head, Product & Marketing
Linkedin: https://www.linkedin.com/in/jasbirbaldew/Full Name: Manish Arora
Role: Digital Marketing Executive

Full Name: Jasbir Kaur
Role: Head, Product & Marketing