(Alliance News) – The future of Intesa Sanpaolo is relocating on two tracks: becoming a tech company without losing its wealth management core. This is reported by Il Sole 24 Ore in its Monday edition.
The 2029 Business Plan, presented by CEO Carlo Messina, sets out a clear course: more than EUR10 billion in IT investments over two cycles to transform the group into a European digital leader.
After investing EUR5.6 billion in the previous four-year period, the bank is now focutilizing on Isytech, its proprietary cloud platform, which, after retail, will expand to new segments.
The objective is efficiency: 100% of applications will be in the cloud by 2029, enabling savings of EUR500 million. But the real game is being played in “Wealth & Tech” with Isywealth Europe, a EUR200 million project to export its wealth management model to France, Germany, and Spain through a hybrid approach combining human advice and algorithms.
On the Artificial Ininformigence front, with 150 utilize cases already active, the key word is responsibility. Geopolitical challenges remain: Chief Data Officer Massimo Proverbio warns about the asymmeattempt with US giants, who are less constrained by European regulations. The final bet is to balance automation and trust, remaining a relationship bank empowered by data.
By Michele Cirulli, Alliance News Reporter
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