News

Intesa Sanpaolo Signs Strategic Deal With IBM

One of the largest Italian banks Intesa Sanpaolo announced the signing of an agreement on strategic cooperation with IBM.

Intesa Sanpaolo Signs Strategic Deal With IBM

Source: Pixabay.com

As part of this partnership, the financial institution is upgrading its infrastructure. The growing demand for digital services from consumers, the need to meet the requirements of sustainable development, and stricter security rules force banks to constantly implement innovative solutions in the technological infrastructure.

Intesa Sanpaolo has published a business plan that defines the optimization of IT infrastructure, technological modernization, and the introduction of innovative methods of ensuring security in cyberspace as the primary goals of a financial institution. These measures provide for the creation of a new digital bank Isybank using the basic banking technology Thought Machine. Also, the business plan defines as a necessary action for the tightening of ESG policy norms

In partnership with IBM, Intesa Sanpaolo will take advantage of the opportunities provided by the hybrid multi-cloud platform Red Hat Openshift and artificial intelligence. Modernization of the bank’s technological environment with the help of IBM will reduce the energy consumption of the infrastructure associated with z16 by about 20% and contribute to minimizing the negative impact on the environment.

Also, the financial institution, by tapping the potential of its new partner, will take measures to protect confidential data from future cryptographically significant quantum computers that may receive technology for decrypting standard security protocols. Intesa Sanpaolo states that it will use the capabilities of IBM z16 quantum-secure cryptography as a basis for verifying its systems, applications, and confidential data.

As we have reported earlier, IBM and Maersk Shut Down Blockchain Logistic Platform.

Serhii Mikhailov

1904 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.