Thought Machine, Intesa invests 47 million: this is how Messina focuses on digital banking

Carlo Messina, managing director of Intesa San Paolo

Intesa Sanpaolo and the challenge of fintech, Messina: “From the role of incumbent we will move on to playing the part of challenger“

Intesa Sanpaolo runs towards strengthening the bussiness of the fintech: the institute led by Carlo Messina has announced an investment of 40 million pounds, that is 47 million euros, in Thought Machinethe fintech with which he developed the new Isybank digital bankwhich will then be able to use the core engine banking Vault. Isybank, remember Understandingwill initially serve “the 4 million customers Intesa Sanpaolo retailers in Italy that do not use the branch network, at the same time obtaining a structural reduction in costs for the group “. To the development and growth of Isybank they are destined 650 million of investments over the new plan in 2025.

Understandingunderlines a note, “has also expressed its intention to extend the platform core banking from Thought Machine to the wider infrastructure of the group, continuing to invest heavily in the digital transformation of the bank with a significant investment program in information technology equal to 5 billion and with a commitment that will involve 4 thousand people between new hires of particularly specific profiles and professional reconversions “. Vault “It was chosen for its flexibility in serving customers operating in different currencies and different countries”.

“With the new business plan we intend to face the fintech challenge even more decisively “, commented the CEO Carlo Messina. “For this reason, among the main projects of Intesa Sanpaolo for the years to come there is the creation and development of Isybank. This choice changes perspective, changing the perception of the market and customers towards us: from the role of incumbent, which we had so far, we will move on to playing the part of the challenger “, he continued. Messina. “The strong conviction of having in Thought Machine the ideal partner in the transformation process, he added Messina, led us to invest in the company: we will thus be part of their growth path “.