Italy’s leading financial institution, Intesa Sanpaolo, has embarked on a strategic partnership with IBM aimed at overhauling its technology infrastructure.
With the increasing demand from consumers for digital solutions and the growing need for adherence to strict security, compliance, and sustainability regulations, banks are compelled to frequently assess and upgrade their technological frameworks.
In response to these challenges, Intesa Sanpaolo has outlined a comprehensive business strategy that includes significant investments in optimizing IT infrastructure, advancing technological capabilities, and implementing cutting-edge cybersecurity measures. A key component of this initiative is the establishment of a new digital banking platform, Isybank, utilizing core banking technology from Thought Machine. Additionally, the bank is committed to adhering to robust Environmental, Social, and Governance (ESG) standards.
Through its collaboration with IBM, Intesa Sanpaolo intends to leverage the benefits of the Red Hat OpenShift hybrid multi-cloud platform and artificial intelligence. As part of its ESG efforts, the modernization of its technological ecosystem with the IBM z16—engineered for energy efficiency—will reduce energy consumption associated with the z16 by approximately 20%, thereby diminishing its environmental footprint.
Looking ahead, the bank is also preparing to safeguard sensitive data against emerging threats posed by quantum computers, which have the potential to compromise existing security protocols. Intesa Sanpaolo plans to utilize the quantum-safe cryptography capabilities of the IBM z16 to future-proof its systems, applications, and data.
Massimo Enrico Proverbio, the Chief IT Digital & Innovation Officer at Intesa Sanpaolo, noted, “We have embarked on a journey to digitize our processes and enhance customer services by harnessing innovative technologies and collaborating with both national and international partners. This initiative involves evolving our Group’s infrastructure, which the new IBM technology will enhance in terms of flexibility, performance, and sustainability.”
For further insights into the latest developments in financial technology, be sure to explore the inaugural Financial Cloud Summit, which is set to take place on March 2, 2023. For more information and to register, visit the event page.