Unicredit has announced that it has renewed the partnership with Worldline, world leader in payment services, for the service of Open Banking (TPP) for another two years.
The partnership with Worldline, active since 2020, allows Unicredit customers to link their accounts with other banks throughout Europe via a single API (Application Programming Interface). Furthermore, the service allows the bank to effectively offer Account Information Services (AIS) and Payment Initiation Services (PIS) and to open up a series of other business opportunities for both the bank and its customers.
The partnership with Worldline offers advantages in terms of efficiency
Instead of establishing connections with many different banks separately, Unicredit benefits from extensive coverage throughout Europe and efficiency in cost terms which involves the use of a single API that allows the Bank and its customers to use the PIS and AIS services.
Worldline's secure Open Banking infrastructure allows you to convert formats from all different banks in one API interface. This eliminates the complexity deriving from multiple integrations, allowing Unicredit to offer its customers a consolidated view of all their bank accounts held at one or more banks and the possibility of initiating a payment from the account of another European bank . In addition, Worldline's TPP Open Banking service allows the group to discover new business opportunities to develop new services for the benefit of corporate and private customers.
Worldline is one of the largest Open Banking providers in Europe. The company has been actively working on PSD2/XS2A since 2014, aiming to help the industry implement PSD2. Worldline is focused on maximizing the potential of Open Banking by reaching around 3.500 banks in 19 countries across Europe and enabling multiple use cases that make it possible for banks to create high-value offerings for their customers.
In addition to the Open Banking partnership, Unicredit also has a long-term agreement with Worldline for the management of all SEPA (Single Euro Payments Area) transactions, Instant Payments, multi-currency and domestic payments, in addition to those high value, in Austria and Germany.
“As a leading bank with a presence in several European countries, we are supported by a supplier with a European scale and presence to grasp the challenges and opportunities our clients are facing,” he said. Luca Corsini, Head of Transactions and Payments of Unicredit -. Over the past two years, Worldline has demonstrated its Open Banking capabilities by providing efficient coverage across Europe and enabling the services our customers demand. Furthermore, we are working on further opportunities deriving from PSD2 and Open Banking”.
