Give Us Your Tired, Your Poor, Your Huddled Masses Yearning to Send Cash

Early in the summer of 2014, executives at Western Union offices around the globe began to notice something strange. The world’s largest money transfer company, Western Union Co. processes 31 transactions a second, and the money moves in distinct regional and seasonal patterns, like ocean currents or highway traffic. When disruptions occur or new patterns emerge, a knowledgeable observer can spot history unfolding in real time: The volume of transfers reflects the ebb and flow of nations’ economic growth and the vacillations of commodity markets. Natural disasters show up as sudden influxes of cash.

That summer more people than usual were sending money from Canada, Northern Europe, and the U.S. to Greece, Jordan, and Turkey. “We know every receiver and every sender’s name,” says Hikmet Ersek, the company’s chief executive officer and president. “You’d see all these names like Ismael or Muhammed or Mehmet.” On conference calls, amid discussions of financial results and social media marketing strategy, executives puzzled over the anomaly.