News and resources on payments systems, innovations and initiatives worldwide.

Italian utility Iren to offer Payment Initiation through SIA Open Banking platform

Source: SIA

Iren, an Italian multi-utility operating in the electricity, gas and services sectors, has chosen SIA, a leading European hi-tech company in the payment services and infrastructures sector, controlled by CDP Equity, for the launch of advanced payment services thanks to the innovations introduced by the PSD2 Directive which has opened up the market also to corporates.

Iren offers the new Payment Initiation (PIS) service through SIA's digital Open Banking platform. The service allows Iren’s customers to pay their electricity and gas bills online in an easy, fast and secure manner directly from the web platform or the 'IrenYou' app by connecting to their Internet Banking site.

SIA’s Open Banking Platform in fact makes available a series of functions to create and integrate innovative services and applications while minimizing development costs, technology investments, organizational impacts and accelerating time-to-market, as well as guaranteeing compliance with regulations. SIA also supports companies in the design and implementation of use cases best suited to their business strategies and objectives.

SIA accompanied Iren throughout the digital transformation process that allowed this multi-utility company to obtain authorization from the Bank of Italy to operate as a Payment Institution and therefore to propose itself as an innovative organization capable of diversifying its offer in the sector and providing its customers with advanced services thus improving the user experience.

In this way, Iren has responded to the extraordinary dynamism that has been characterizing the payments sector in recent years, with the increasing use of digital services via smartphones, tablets and wearable devices.

"Electronic payments will be an extraordinary enabler for Iren's nationwide expansion with the aim of combining technological evolution and customer orientation. The new IrenPay service - provided through SIA's digital Open Banking platform - will be an important tool to offer our customers increasingly digital and personalized services”, stated Gianluca Bufo, CEO of Iren Mercato.

"The decision of a major multi-utility company such as Iren to trust the technology and expertise of our staff is further confirmation of SIA's ability to accompany the digital transformation of banks, corporates and fintechs, through the development of particularly innovative initiatives, and thus always promoting increased use of electronic payments. Open Banking is among the main strategic initiatives on which we have been focusing with investments in platforms and with the creation of new services and applications for all the players involved in the new ecosystem enabled by PSD2", commented Nicola Cordone, CEO of SIA.

Comments: (0)