What will Ibm do for Unicredit?
The moves of Orcel in Unicredit on digital and its surroundings. The role of Ibm
The moves of Orcel in Unicredit on digital and its surroundings At the time of his inauguration Andrea Orcel had promised it and now he is proceeding at full speed on the path of digitization of Unicredit. Just a few days ago, the bank announced the new organization chart of the group Digital & Information office function, led by Jingle Pang. According to Startmag , however, to innovate the digital processes of Piazza Gae Aulenti was called Ibm, the US company founded in 1911 and one of the largest in the world in the IT sector.
WHAT UNICREDIT WILL DO
In an email sent to employees and written jointly by Pang and the CEO, Radiocor informs, it speaks of "a further step towards our next chapter as a bank" which "guarantees greater simplification of our digital activities and of innovation ". After all, they explain, “we are in a crucial phase of this transformation and we are committed to creating a new UniCredit with all the credentials to better face the 21st century. A reality – they continue – in which digital and data play a fundamental role, and where the best way to satisfy the needs of our customers is to seamlessly strengthen our digital setup ".
For these reasons, the Unicredit team will be “strongly committed to improving our bank through the development and use of the most advanced and revolutionary technologies, with the aim of building a pioneering digital financial institution in the years to come”. But who does this innovation look at? Certainly "it is designed for small businesses trying to build a future after Covid, for families hoping to resume their old life or start a better one", write the two managers, but also "for students who do not see time to go to university. For entrepreneurs wishing to rebuild their companies. For seniors looking for simpler and more accessible solutions. For branch managers tired of filling out unnecessary documents. For citizens, for employees, for companies, for communities ". In short, "for everyone".
WHAT ORCEL SAID IN PREVIOUS LETTERS TO EMPLOYEES
As we said, digitization is, however, an issue that is very close to Orcel's heart and that has also found space in the letters sent previously to the group's workers. Like the one received on his return from holidays , in early September, in which he wrote that "the formal appointment of Jingle Pang has completely upset our concept of technological and digital offer" anticipating: "I know that Jingle will soon communicate its vision on the path digitalization of UniCredit, so that all of you can understand what is the goal we are working towards and the impact it will have on our Group ".
In the letter, the Roman banker first of all asked the employees “to do everything possible to transform UniCredit into a better bank. Please continue to share your ideas, challenges and constructive criticisms with me, large or small. In fact, I am convinced that suggesting an improvement at Group level is as important as the request of a single individual to modify an activity that can make his daily work more efficient. Give us all the advice you want: what's important to you is exactly what we need. And this is precisely the approach that will allow us to become the best in our sector ”. Then Orcel invited Unicredit workers to "focus on the Team23 plan" and "find the right balance between leadership and teamwork" by leveraging "the spirit of the Group".
Going back in time, we arrive in mid-April, when the CEO took office at the helm of the bank. In his first email to Unicredit employees , Orcel immediately put the record straight: “My goal is to become innovators in our field with you. Create a bank that does not remain inert, but that seeks innovation. A bank that goes beyond expectations and therefore exceeds them. This requires a change of mentality, and the ability to believe that the impossible is now possible ”. And again: “We must increase the pace of digitization and the adoption of new technologies. Technology will no longer be in the background. It will become an integral part of how we conduct our business, as are the talent we hire and the capital we employ. It will be present in everything we do, fundamental for every decision we make and crucial in every strategic choice we will consider ”. After all, the banker pointed out, “making the right choices in a timely manner for a concrete impact is essential for the success of our business and for the services we provide to our customers”.
THE JPMORGAN CHASE EXPERIMENT
The issue of digital innovation is however also felt by other credit institutions. As told by Mf – Milano Finanza, on 21 September the US JPMorgan Chase & Co. will present its digital bank Chase in the United Kingdom challenging the British banks online. The project, which represents the first overseas retail activity of the American banking giant, involves the launch of a smartphone app that will initially allow the creation of new current accounts and which will then expand into other products (savings, digital investments, loans and mortgages) and – if successful – in other countries, starting with continental Europe.
Chase, according to the website of the economic-financial daily, will operate through the British branch of JPMorgan and will have as its managing director Sanoke Viswanathan, former chief administrative officer and head of strategy in the investment bank. Note that the news comes after several acquisitions by JPMorgan "to strengthen its digital and payments capabilities in the UK and Europe by buying three quarters of Volkswagen's payments business and digital asset manager, Nutmeg".
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/cosa-fara-ibm-per-unicredit/ on Mon, 20 Sep 2021 09:58:56 +0000.