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Intesa Sanpaolo signs strategic deal with IBM

Intesa Sanpaolo signs strategic deal with IBM

Italy's largest bank, Intesa Sanpaolo, has signed a strategic deal with IBM to modernise its infrastructure.

Consumer demand for digital services and increasingly stringent security, compliance and sustainability regulations are making it necessary for banks to constantly review and upgrade technology infrastructures.

Intesa Sanpaolo has responded with a business plan that includes major investments in IT infrastructure optimisation, technological modernisation, and the introduction of leading cyber-security techniques. This includes the creation of a new digital bank Isybank using core banking technology from Thought Machine and the adoption of increasingly stringent ESG policies

Through the agreement with IBM, Intesa Sanpaolo will aim to take full advantage of the opportunities offered by the Red Hat Openshift hybrid multi-cloud platform, and artificial intelligence. In ESG terms, the modernisation of the bank’s technology environment with the IBM z16 - designed with energy efficiency in mind to achieve greater performance with less energy used - will enable Intesa Sanpaolo to reduce its infrastructure energy consumption related to the z16 of around 20% and to contribute towards limiting its environmental impact.

Further developments in the works include preparation to help protect sensitive data from future cryptographically relevant quantum computers that may be able to decrypt today's standard security protocols.

Intesa Sanpaolo says it will utilise IBM z16’s quantum-safe cryptography capabilities as a foundation for the bank to start future-proofing its systems, applications, and data.

“We have started a journey to digitize our processes and customer services by leveraging the most innovative technologies and an ecosystem of national and international players” - says Massimo Enrico Proverbio, chief IT digital & innovation officer, Intesa Sanpaolo. “This includes the evolution of the Group's infrastructure, which the new IBM technology will help make more flexible, performant and sustainable.”

Finextra has recently launched the inaugural Financial Cloud Summit, scheduled to take place on 2 March 2023. For more information and to register for this event, please visit the event page here.

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