Banks may now provide a speedier, more transparent, traceable cross-border payments service with accurate and real-time payment information and end-to-end visibility on transactions thanks to Swift GPI.

Retail customers at UniCredit may now get progress updates on their overseas payments with a straightforward push notification. This is just one more way the bank is enhancing its digital channels and putting customers first.

The goal of UniCredit in the payments space is to be the first choice for all European customers.

This entails leading the way in industry trends, especially when it comes to the bank's perspective on the customer experience, which enables it to collect more payments.

The global head of payments and cash management at UniCredit, Raphael Barisaac, stated: "We are keeping our clients at the center of everything we do." This entails having the flexibility to quickly change and grow with their demands, as demonstrated by the launch of Swift GPI for our retail clients."

"As part of our strategy for instantaneous and frictionless transactions, we're working with our community to ensure that both individuals and businesses of all sizes can directly benefit from our range of solutions, improving their overall experience when sending and receiving an international payment," said Marianne Demarchi, Chief Executive EMEA, Swift. We're thrilled to be collaborating with UniCredit to expand the number of individuals who may make cross-border payments via Swift GPI in a quick, safe, and transparent manner."

The bank is able to concentrate and make large investments as it broadens its portfolio of value-added services for customers of all sizes thanks to the division of UniCredit's Group Payments Solutions vertical last year.

The quality of UniCredit's revenues has been significantly impacted by these bold moves; 87% of the bank's FY23 payments revenues are fee-driven.

The latest development in UniCredit's history of innovation in international payments and service excellence is the launch of Swift GPI for retail clients.

Presently, the bank is able to provide completely automated end-to-end foreign exchange conversion in over 100 currencies, carrying out international payments at pre-arranged wholesale margins.

UniCredit is also among the first companies to use Swift's Payment Pre-validation service, which verifies destination data in advance to eliminate errors before a payment is issued.