(Alliance News) - UniCredit Spa announced on Tuesday that it has entered into a strategic partnership with Wise, a global leader in cross-border payments.

This move positions UniCredit as the first bank in Italy to integrate a fast, secure, and transparent solution for foreign currency transfers directly into its mobile banking app, the company explained in a statement.

The new service promises to revolutionize international transfers, making them as swift and simple as domestic payments: in most cases, funds will be credited to the recipient within seconds, all with clear, competitive fees and a streamlined user experience.

Italian UniCredit customers will thus be able to send money to selected countries such as the UK (GBP), Switzerland (CHF), Hong Kong (HKD), Singapore (SGD), and India (INR), with a commitment to add more currencies in the future.

This initiative builds on UniCredit's innovative payment solutions, such as embedded currency exchange for payments in over 120 currencies via UC PayFX, as well as advanced currency management and transaction monitoring with UC PayFX Webservice.

On Tuesday, UniCredit shares were trading down 0.4% at EUR58.01 each.

By Maurizio Carta, Alliance News reporter

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