Immediately after the European instant payments infrastructure was officially in operation on 21st November, UniCredit conducted its inaugural instant payment from Germany to Italy. The payment took exactly 2.5 seconds to be completed, demonstrating the bank’s capabilities in both countries and across borders. This makes UniCredit the first bank to offer real-time payments in Germany and the first to use the format for a cross-border payment.
The launch marks the beginning of the bank’s roll-out of instant payments in line with the European Payments Council’s (EPC) SEPA Instant Credit Transfer (SCT Inst) scheme, as originally initiated by the European Central Bank.
Gianfranco Bisagni, Global Co-Head of CIB at UniCredit, commented: “After a very focused development and implementation process, the official launch today is a proud moment for us. We have always aimed to lead the way on developing instant payments solution for our clients and we are excited about the benefits this new service will bring to our clients – promoting speed and transparency through 24-hour, 365-days-a-year coverage and real-time notifications of successful payments.”
To read further coverage of this news, please go here: Asset Servicing Times, Electronic Payments International, IT-Finanzmagazin (in German), Financial IT, Finextra, Fintech Finance, FTSE Global Markets, GTR, Payments Journal, Payment Week, The Paypers, TMI, TXF, Finance Digest, Fintechist, Global Banking & Finance Review, CPI, Euromoney.