Global Finance honors the financial institutions modernizing sub-custody.
Central and Eastern Europe
UNICREDIT
In Central and Eastern Europe (CEE), UniCredit is bolstering its franchise through enhancements to its business model. The recent launch of an internal strategic initiative is designed to further transform the bank’s business model to accelerate operational performance, efficiency, and client service. This involves the implementation of technological advancements through AI adoption, expanded data analytics capabilities, and enhanced digital reporting tools. These technology upgrades are also designed to improve the transmission of client data for greater transparency and insight into client accounts, trade data, and transaction reconciliation. Through its strategic partnership with Google Cloud, UniCredit has boosted its digital infrastructure across all 13 core markets and is embedding AI across its platform for greater capability in predictive analytics, intelligent automation, and service personalization, with high levels of data and system security.
Global Finance also recognizes UniCredit as the winner for Bosnia and Herzegovina, the Czech Republic, and Serbia. Across its CEE franchise, it has established itself as the leading sub-custodian by cultivating strong customer engagement through the efficient delivery of leading service offerings, a robust technology infrastructure, and smooth client onboarding. Services are delivered through the BaNCS system, which facilitates a seamless settlement and clearing process for global transactions. Clients also benefit from a flexible sub-custody model that offers two service options: A UniCredit Direct servicing model provides transaction execution across the bank’s 11 CEE markets, and a centralized UniCredit Hub model, based in Austria, provides clients with the efficiency of a single counterparty relationship, streamlined documentation, and due diligence. A dedicated relationship manager serves as the primary point of contact.
As the market infrastructure will move to next-day (T+1) settlement in Europe by October 2027, UniCredit is collaborating with regulators and industry participants across local and international jurisdictions on this shift. Internally, the ongoing technology enhancements will facilitate expansion of processing capacity and settlement volume, and UniCredit is participating in international BaNCS user groups to align with the new global standard.
