MoneyGram has signed a new seven-year super agency agreement with Money Transfer International (MTI), a UK-based remittance and foreign currency exchange business.

Through this new super agency agreement, MTI will lead the acquisition and management of new MoneyGram sub-agents in Denmark, Finland, Norway and Sweden. The new sub-agents introduced via MTI will complement MoneyGram’s existing agent relationships in the Nordics where it has been established since 2004.

MTI has partnered with MoneyGram since 2006, acting as a super agent developing networks across the UK, Republic of Ireland, Czech Republic and Gibraltar.

Mark Crowson, regional director for Northern Europe at MoneyGram, said: “We are delighted to sign our first super agency agreement in the Nordics. This partnership is critical in accelerating our growth across a key region. MTI has solid experience in operating the super agency model and we look forward to the rapid network expansion MTI will deliver.”

James Nicholson, managing director for MTI, said: “It is very exciting for MTI to be extending its relationship with MoneyGram across the Nordic region. We will build upon our experience and successes as a MoneyGram super agent in our current European markets to achieve rapid growth in this Nordic region, where we see huge potential.”