Amid the scramble for cash during the pandemic lockdowns, efficient treasury management was key to ensuring that companies made the most of the liquidity already available to them, minimizing the need for, and cost of, emergency measures. Corporates looked to free up otherwise trapped liquidity through techniques such as cash pooling, either through physical sweeping or – as the imperative to go digital mounts – through virtual accounts.
UniCredit, now led by chief executive Andrea Orcel, has emerged as a leading provider of vital cash management products, such as virtual accounts, and wins our award this year as western Europe’s best bank for transaction services.
International Italian sports equipment provider Tecnica is a prime example of what the bank can do. Advised by UniCredit, Tecnica identified that it needed central visibility and control over its global cash positions, which had become split between independent subsidiary accounts across the company’s vast sales and production network.