Intesa launches cloud-based Isybank in digital push

MILAN : Intesa Sanpaolo, Italy's biggest bank, on Thursday launched a new digital lender dubbed Isybank as it strives to upgrade the technology underpinning its business and cut costs.

High-street banks globally face a big challenge in replacing their existing core IT infrastructure, known as mainframe, with cloud technology. Legacy systems pose a major hurdle, while the task is easy for challenger banks built from scratch on cloud technology. Intesa has said it will attempt to shift its entire business onto the cloud if Isybank proves successful.Intesa Sanpaolo has forecast its new digital bank would save around 800 million euros a year in 2026-2027, up from 600 million euros in 2025, according to a strategy presentation delivered in February last year.

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