Italy’s largest banking group and global financial institution, Intesa Sanpaolo, has embarked on its transformation plans by launching isybank, a new digital bank running on Vault Core. Intesa’s 2022-2025 Business Plan outlines an approach to modernise its technology, enhance its customer experience and strategically reduce costs.
Intesa Sanpaolo selected Thought Machine to be its technology partner in 2022 and deliver on a mission of building isybank to service the four million plus Intesa Sanpaolo customers who rarely, if ever, use physical bank branches, and are more accustomed to digital self-service channels.
Isybank launched publicly in June 2023 and offers innovative banking features and three account plans within its mobile app while retaining human touchpoints for customer service.
Intesa Sanpaolo selected Thought Machine as the technology provider with the capabilities of delivering Isybank’s roadmap, featuring a high level of self service, configurability for the future, and technology which could be used in the bank’s broader technology stack. Another benefit of using Thought Machine’s modern technology is to help attract top talent into the bank as it evolves—world-class engineers capable and eager to develop the bank’s products and capabilities.
Isybank launched just 12 months after kicking off the project with Thought Machine. This speed of delivery was achieved in part due to the flexible and powerful nature of Vault Core: its ability to rapidly test and deploy products and seamlessly integrate with other best-in-class vendors. Additionally, close collaboration between Thought Machine’s client services team and Intesa Sanpaolo’s in-house technology team ensured that the bank could work and deliver on its vision quickly.
The bank launched a range of features, including digital cards, cardless withdrawals, SEPA credit transfers, bill payment capabilities, and tiered-account plans. Customers can open an account within the app in just a few minutes.
Over the coming months and years, and as isybank grows in popularity, Intesa Sanpaolo will identify opportunities to use our cloud-native technology in its broader technology stack and migrate customers to our cloud-native platform.