- UniCredit wins first prize in the category "Open innovation: the bank in the digital ecosystem" for its "Dynamic Discounting" project - the new digital solution to support supply chains, offered in partnership with FinDynamic
- UniCredit also received a special mention for its project "Our differences make all the difference - understanding disabilities to create a better working environment"
UniCredit has won the prestigious ABI award for Innovation in Banking Services 2020 for its "Dynamic Discounting" project — the new digital solution to support supply chains, offered in partnership with FinDynamic. The project was entered in the category "Open Innovation: the bank in the digital ecosystem" for initiatives that aim to generate synergies and value between the bank and other players in the digital ecosystem (businesses, IT vendors, fintech), by building open platforms and harnessing the value of the bank's internal and external information assets (Open API, Digital Platforms).
UniCredit is committed to developing products and services that meet the needs of our customers, also through partnerships with established fintech players that can accelerate our digital transformation. The bank has already been working with fintech companies for several years on a number of significant projects for Group customers. The partnership with FinDynamic offers an additional strategic tool to better serve customers and help them to grow.
UniCredit operates extensively in Dynamic Discounting through agreements with customers to support production chains ranging from the food industry to large retailers, especially in recent times given the crucial importance of liquidity . Dynamic Discounting allows suppliers of goods and services to view invoices within a web-based or mobile platform and easily select those that want to be paid in advance. Payment is made in exchange of a discount that varies dynamically in relation to the number of days in advance of the payment date agreed on the invoice. The service also provides the opportunity to develop sustainable programmes certified by Bureau Veritas.
UniCredit also received a special mention for the project "Our differences make all the difference - understanding disabilities to create a better working environment", entered in the category "Innovation in communication: a new message from banks". UniCredit employees with disabilities, as well as disability experts and various industry associations contributed to the document, which offers useful information to those in daily contact with people with disabilities in the company or in their private lives. UniCredit is working towards complete professional inclusivity through a series of initiatives for which everyone is required to play their part. On 21 May 2020, it joined "Valuable 500", a global movement that aims to put disability at the centre of the business agenda.
The award ceremony fully took place online .
Last year UniCredit won the Innovation in Sustainable Finance Award for its "Impact Financing" project and the Innovation in Communication Award for its "U-Days" project.
Entries were assessed by a committee of experts from business, institutions and academia, who pre-evaluated the selected projects and drew up rankings based on their strengths, including: innovation quality; the practicality and usefulness of the initiative for users; results achieved/planned targets; innovativeness of the design approach; and the positive effects on the banking industry, society and the environment. The list is then submitted to the jury, that draws up the final rankings and awards the prizes completely independently.
Remo Taricani, UniCredit Co-CEO Commercial Banking Italy, said: "This is a great acknowledgement for our bank that not only reaffirms our full commitment to product and service innovation so that we can continue to improve how we serve our customers, but also our commitment to diversity and inclusion, which has been a focus for UniCredit since as far back as 2009 thanks to our engagement with stakeholders."
The ABI Award for Innovation in Banking Services aims to engage the banking world in service innovation and to help improve the sector's image by highlighting innovative projects and services.
Milan, 25 June 2020