Intesa Sanpaolo accelerates on digital with Isybank and invests 650 million: “We want to become the market leader”

Intesa Sanpaolo accelerates on digital with the aim of becoming the first online operator in the credit sector. And it does so with the launch of Isybank, an entirely mobile bank, with operations through apps, 100% controlled, and led by Antonio Valitutti, former general manager of Hype.

Isybank is the answer to the group’s 4 million customers who mainly use digital banking services and are oriented towards mobile banking, «but our goal is much more ambitious. We want to become number one in the industry. Like Intesa Sanpaolo in the traditional sector» says Valitutti.

The new digital bank was presented in Milan by the CEO of Intesa Sanpaolo, Carlo Messina, and by numerous managers of the group. On the other hand, Isybank is one of the pillars of the group’s 2022-2025 business plan which provides for 5 billion euros of investments for technology and growth of the group: of these, over 650 million are intended for Isybank. The technology and growth plan will directly employ 4,000 Intesa Sanpaolo people through professional reconversions and the hiring of specific profiles, 2,000 of whom in the IT area alone. To date, there are already 400 specialists dedicated to the new digital bank.

Isybank can count on cutting-edge technology with the aim of gaining European leadership in terms of operational efficiency and innovation. Intesa Sanpaolo has identified Thought Machine as the partner to create the new platform. Isybank uses Vault, Thought Machine’s core banking engine, chosen for its flexibility in serving customers operating in different currencies and different countries. A partnership with Google Cloud has also been activated.

“I am convinced that Isybank represents a strength for Italy, the demonstration that in this country we are able to do excellent things at a global level” said Messina underlining how “having built this bank represents an indisputable strength for Intesa , but it also represents an element of which the country must be proud». And again: «Technology is not a threat, but a huge opportunity».