We are based in Fredrikstad, Norway, where UNITE evolved as a correspondent hub for banks, but our origin is global, developed over years in international banking centres.
We know how cross-border payments work. From our experience in conventional banking and payment processing, we truly know the structure and the problems associated with a process invented in the 15th century, and which still relies on a 1970’s electronic communication system.
We have studied other initiatives over the years and learned that the third-party philosophy of trying to bolt-on smart software to multiple bank accounts is less than ideal. A holistic revolution was required to deliver a cross-border payments solution fit for banks in the 21st century.
Meet the team
As a solution, there is nothing wrong with the traditional correspondent banking relationship system. It is well understood. It works, albeit expensively and slowly. The modern world demands more of it, but the way it is administered is too complicated, and fundamentally limited, to deliver.
Remove that complexity and distil it down to a single relationship for each bank. Develop a communication system that would enable not only real-time payments, but also instant, concurrent settlement. Make it faster, better, and cheaper for banks and their customers?
To make it happen, we took control of our own system. And so UNITE was born.
We are no sideshow, in no backwater. We are a serious mission, involving serious people. We know that UNITE will enable mainstream banking to build on its strengths to compete more effectively on cross-border payments in today’s demanding world. And, by democratising banking connection and simplifying payments, our team know that UNITE can expedite world trade and benefit customers as well as banks.
UNITE. We are Inspiration, Dedication and Collaboration.