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Intesa Sanpaolo bank logo and stock graph are seen displayed in this illustration taken, May 3, 2022. Italy's AGCM antitrust authority opened a probe earlier this month into the way Intesa was transferring clients to Isybank after a raft of complaints which the watchdog said had now reached 5,000. It wants Intesa to only move clients who explicitly give their consent. Isybank targets 4 million Intesa customers under 65 who only access their banking services remotely. The group migrated the first 300,000 Intesa account holders in October and plans to shift another 2 million in March.
Persons: Dado Ruvic, Intesa, AGCM, Carlo Messina, Antonio Valitutti, Isybank, Valentina Za, Giulia Segreti, Christina Fincher, Jane Merriman, Susan Fenton Organizations: REUTERS, Bank of Italy, European Central Bank, Thomson Locations: Italy
Intesa staff to test new digital business from March
  + stars: | 2023-02-20 | by ( ) www.reuters.com   time to read: +2 min
MILAN, Feb 20 (Reuters) - Italy's biggest bank Intesa Sanpaolo (ISP.MI) has told staff they can sign up to test from March 1 the app for the new digital lender it is setting up with British fintech Thought Machine, an internal document showed. Intesa last year unveiled plans to invest 5 billion euros ($5.3 billion) in technology under its 2022-2025 strategy, of which 650 million is destined to create its new digital arm called Isybank. Intesa has struck a five year partnership with Thought Machine, founder and CEO Paul Taylor told Reuters, making the Italian bank one of the biggest customers of the UK firm. Thought Machine will provide Isybank with the cloud infrastructure to serve 4 million customers under 40 who Intesa intends to migrate to online and mobile banking services. The trial phase would subsequently be expanded to include a wider group beyond staff members, the document reviewed by Reuters said.
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