The FINANCIAL — The European Commission has charged UniCredit with carrying out a large portion of the Commission's SEPA payments.
Thus, UniCredit is one of four banks responsible for all SEPA payment transactions on behalf of the European Commission from now on.
Sergio Ermotti, Deputy CEO of UniCredit: "This mandate shows the quality of our Global Transaction Banking capabilities that allows us to serve our clients in 22 European countries." Marco Bolgiani, Head of Global Transaction Banking of UniCredit: "The crucial factor for the European Commission's positive decision was our strong commitment to SE-PA, together with our large network all over Europe."
The mandate was awarded as the result of a tendering process in which all banks in Europe were invited to take part. "With a share of between 25 and 35 percent of the total volume, we have proved our competitiveness once again", said Marco Bolgiani. The total transaction will amount to more than 1.6 million international payments with a volume of over EUR 33 billion. The European Commission's decision to process payment transactions via SEPA in the future and to focus on four banks means it will progressively abandon the previous model in which local banks in every European state were responsible for processing the respective payments.
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