MILAN (ITALPRESS) – “When we talk about how Europe can recover its ability to compete, we cannot neglect the central role of banks to win this challenge. Our continent will have to mobilize significant capital – in the field of defence, industry, technology and infrastructure – and this will only be possible with a financial system that has the size, solidity and ability to allocate resources efficiently.” This is said by Andrea Orcel, UniCredit Group CEO, in an intervention published today on the front page of Il Sole24Ore.
“Fortunately, an increasing consensus is emerging on the direction to be taken and we already have the necessary levers for this purpose: from the completion of the Banking Union to the strengthening of the Union of Capital Markets, to the clear simplification of the regulatory framework. The key is now to use them in the most appropriate way, to reduce fragmentation and release our full potential. Diagnosis has long been clear. What will make a difference, now, is the performance ability,” he adds.
For Orcel, however, “this is only a part of the equation. The banking system also has a direct responsibility. Our industry is going through a transformation among the most marked in recent decades, because technology is no longer limited to optimizing existing processes: it is radically redefining operational models, as well as the criteria for allocation of capital and risk management. Meanwhile, customer expectations are also evolving – as we know, of the opportunities offered by these new tools.”.
According to Orcel “for traditional European banks, this requires a fundamental reflection. Legacy, reputation and marginal improvements are no longer enough. In a context marked by volatility and uncertainty, the greatest risk is inertia. Fintech and hyperscaler continue to raise the rack, setting new standards in terms of speed, efficiency and digital responsiveness. Those who will not be able to adapt, are likely to gradually lose ground and relevance in the economies in which they work.”.
“In UniCredit – he points out – we are accustomed to change. When I took over the Group’s leadership, we faced complex challenges that forced a decisive reversal of course. With UniCredit Unlocked we started a renewal that many felt unrealizable. We have reestablished financial discipline, simplified our operational model and brought together the organization around a single vision, a clear strategy and a shared culture. The results speak for themselves: the best performance of our history and twenty consecutive quarters of quality growth. The transformation, however, is a path, not a goal. In a world that evolves at this speed, stopping is to reverse, to be overcome. As Europe cannot afford to slow down in the face of an enterprise of this magnitude, its banks must continue to advance. This is why we announced UniCredit Unlimited: the next phase of our strategic development.”.
“A plan that – even Orcel’s words – marks the beginning of a new era: ambitious, innovative, and founded on a deep reflection of what a European bank can and must be. And above all, which reflects a clear conviction: the future of banking will be guided by institutions capable of exceeding every limit, fully integrate emerging technologies and operate with greater scale, agility and determination. In order to remain at the top, we must value the strengths of the European banking tradition, not abandon them. Solid and lasting relationships with customers, knowledge of the territories, strict risk management remain non-negotiable conditions and however not sufficient. Today, they must be integrated with skills and attitudes of the native digital players: decision-making speed, technological excellence, spirit of adaptation. Our goal is not to chase those who have recently entered the industry. It is to put us a step forward, to also guide this evolution by strengthening our competitive advantages with the innovation and flexibility that the market requires. In the middle, as always, there are our people. There’s a lot about artificial intelligence. And like every new technology, this too is able to generate value only if properly integrated in processes, dynamics and corporate culture. Without investment aimed at skills, training and incentives, AI is likely to remain a theoretical exercise alone.”.
“For us, all this is a strategic priority. To fully grasp the potential of AI, it serves an increasingly qualified workforce, able to integrate it into everyday decision-making processes and to translate its benefits into greater efficiency and capacity for innovation. At the same time – says Orcel again – we must preserve what no machine can replace: the human judgment, the foundation of trust on which the banking system is based. We believe in our people. We know they’ll find the right balance. No one better than them knows our customers and communities where we operate. The recent geopolitical developments clearly highlighted the delicate position in which Europe is located and the urgency of a frank comparison of competitiveness and resilience. Now it is essential that all this be translated into concrete progress. A more integrated regulatory framework can generate tangible results only if financial institutions are put in the conditions of operating in an increasingly fast, digital and demanding context. If Europe really wants to transform itself, its banks must be at the forefront. Our industry evolves at great speed and global scale, and we must be able to sustain its pace: allocate capital beyond national borders, act promptly, and meet the ever higher expectations of our customers.”.
“In 2026 – he concludes – our continent must transform ambition into action. And with the start of the new Unlimited plan, UniCredit is determined to take a leading role: pointing out the direction, giving the example and demonstrating with the facts what it means to overcome every limit.”.
– Photo IPA Agency –
(ITALPRESS).
