GMT - Advanced Financial Services

Company Overview

Snapshot

Founded in January 2001, GMT - Advanced Financial Services operates with 51–200 employees. The company was acquired by Western Union in June 2026.

Business overview

GMT - Advanced Financial Services is an Israeli financial institution specializing in localized and international money transfers, foreign exchange, prepaid cards, and medical insurance for foreign workers and tourists. The company operates under the license of the Ministry of Finance and is regulated by multiple authorities, ensuring strict compliance and anti-fraud protocols. Utilizing proprietary technological infrastructure, GMT manages cross-border financial transactions and business disbursements, with a significant focus on remittances for foreign laborers and dedicated corridors for Commonwealth of Independent States (CIS) countries. Its in-house payment technology allows direct system integration with major global financial networks like MoneyGram and GoldenCrown, serving the Fintech & Insurtech sector.

Strategic signal

In June 2026, GMT - Advanced Financial Services was acquired by Western Union for $70 million. This acquisition signals a strategic move by Western Union to expand its footprint in the Israeli market and enhance its capabilities in localized and international money transfers, leveraging GMT's established network and compliance infrastructure. For investors, this indicates a strong validation of GMT's business model and its position within the global remittance landscape, highlighting the ongoing consolidation and strategic partnerships within the fintech sector.

Company Intelligence Q&A

What was the most significant recent corporate event for GMT - Advanced Financial Services?

In June 2026, GMT - Advanced Financial Services was acquired by Western Union for $70 million, as reported by Calcalistech.com.

What is the primary business of GMT - Advanced Financial Services?

GMT - Advanced Financial Services specializes in localized and international money transfers, foreign exchange, prepaid cards, and medical insurance for foreign workers and tourists, operating within the Fintech & Insurtech sector.

How many employees does GMT - Advanced Financial Services have?

GMT - Advanced Financial Services operates with 51–200 employees.

When was GMT - Advanced Financial Services founded?

GMT - Advanced Financial Services was founded in January 2001.

What regulatory oversight does GMT - Advanced Financial Services operate under?

GMT - Advanced Financial Services operates under the license of the Ministry of Finance and is regulated by the Ministry of Justice, the Capital Market Authority, and the Israel Money Laundering and Terror Financing Prohibition Authority.