Isybank, how Intesa Sanpaolo’s digital bank will be (which will compete with Widiba, Flowe and Dots)
by Maria Scopece
Isybank, how Intesa Sanpaolo’s digital bank will be (which will compete with Widiba, Flowe and Dots) Start Magazine
All the details on Isybank, the digital bank presented by Intesa Sanpaolo that will compete with the digital banks of Unicredit, Mps, Bper and more
“Ours is an industrial plan that will create the bank for the next ten years”. The CEO and managing director of Intesa Sanpaolo Carlo Messina used these words during the conference call with analysts for the presentation of the plan to 2025 which among other things gives the go-ahead to Isybank, the new digital bank of the group.
Carlo Messina: “We will become a challenger bank”
The investment in the new bank is substantial, around 650 million euros. “We have identified 4 million customers that we will serve with the newly created digital bank, Isybank, which we are developing together with Thought Machine – said the banker during the conference call -. Isybank will make us resilient in the face of attacks and competition from fintech since with Isybank we move from incumbent and challenger bank with a much more complete offer “. Isybank focuses on cloud-native technology, adaptable to a multi-currency context and multinational customers, since it works in partnership with Thought Machine, a leading fintech operator. The annual cost savings, thanks to the digital bank, are expected to be 0.6 billion in 2025. “The data we have given ourselves are conservative – explained Messina -, we can significantly exceed the savings we can achieve through this initiative” . Thanks also to the creation of Isybank, the Intesa Sanpaolo group foresees in the plan a reduction of approximately 1,500 branches, of which 450 already closed in the fourth quarter of 2021.
Access channels for Isybank customers
Isybank customers can access the bank through the app, the branches of the group, but also via Atm evoluti and Mooney, the partnership with Enel born in December 2019 from the merger of SisalPay and Banca 5 – Intesa San Paolo group, to offer payment and transaction services, previously only available at bank branches, thanks to a network of over 45,000 points of sale consisting of bars, tobacconists and newsstands.
Buddybank by Unicredit: the first Italian “mobile only” bank
The latest arrival from Intesa San Paolo enriches the offer in the field of digital banks, offshoots of the more traditional credit institutions. Buddybank is UniCredit’s smartphone bank that debuted on the Italian market in 2018. It is the first Italian “mobile only” bank, designed exclusively for smartphones. In just over 3 years it has already exceeded two hundred thousand active customers and represents UniCredit’s acquisition channel aimed at younger generations. In fact, over 80% of customers are between 18 and 35 years old. Buddybank offers a zero-fee bank account, fully manageable via the app, with MasterCard debit card included, free SEPA transfers, no withdrawal fees in UniCredit ATMs around the world. It also provides a Concierge service, buddybank’s advanced customer care, made up entirely of bank employees who provide assistance via chat 24 hours a day, 7 days a week, even from abroad.
Steppy: investing with your smartphone
Steppy is a new fully digital smartphone investment offering, born from a recent partnership between Buddybank, and Moneyfarm, one of the leading European digital wealth managers. “We still have a lot of work to do to further increase our clientele – explained Claudia Vassena, head of Buddybank during an interview -. For the future we want to offer many more services through the lifestyle module. We have already launched mortgages and salary-backed loans, in the investment world we have launched the first ETF portfolios with Moneyfarm, but there are many other options we can offer to customers. We have given the opportunity to take out car and motorcycle insurance, but there are many other elements to insure for our users. In short, we will work on many new features, always starting from the logic of a central app from which you can access and from which you can subscribe to a product, by yourself and in a few clicks, or whoever prefers it can ask for the help of a consultant “.
Flowe: the bank of the Mediolanum group that plants trees
Flowe is a digital bank of the Mediolanum Banking Group characterized by strict respect for the environment, just think that the Flowe Card, the debit card linked to the account, is also made of wood and for each card issued a tree is planted in Guatemala to offset the CO2. “I’m very proud of it – said Flowe president Oscar Di Montigny present at the Dubai Expo – We trace the impact that each transaction has on the world, for example when we buy a sandwich we see what CO2 consumption it produces and then we go as a bank to ‘compensate’: when a certain quantity is reached, we plant a tree. But not only. We offer free sustainability-oriented training to users. Then we clean the beaches, we save the whales, while remaining a bank, therefore with all the financial services that a user expects ”. A year after its opening, it has collected important results: 700,000 users reached, developed an ecosystem of 36 partners, and planted 33,667 trees (for a total of 18 hectares) in the Péten region of Guatemala, rewarding approximately 1,664 tons of CO2. Flowe’s mission, in the words of CEO Ivan Mazzoleni, is clear: to help young people build their future, develop their potential, and take care of the planet.
Banca Widiba (Mps): for 2022 it aims to conquer northern Italy
Digitale is also Banca Widiba of the Monte dei Paschi di Siena group. Founded in 2014, it boasts more than 350,000 customers and a network of more than 500 Financial Advisors present throughout the country. It benefits from a technologically advanced digital platform through which clients can also invest and trade. The bank is characterized by 100% paperless processes on the main banking and financial products and services. “In 2021 the main results we achieved concern the growth obtained by financial advisors of over 10% both in terms of average stock per consultant and profitability, and the recruitment of over 30 new financial advisors in Banca Widiba – says Nicola Viscanti. Head of Banca Widiba’s network of financial advisors -. In addition, placements of managed savings exceeded 1.1 billion, by far the best performance ever of financial advisors. Overall, we are very satisfied with the year just ended, and we aim to further improve our performance in 2022. For 2022 we expect double-digit growth on the parameters that were excellent in 2021, namely the increase in terms of stocks. average and profitability per consultant, as well as a strengthening of private consultants who manage assets exceeding 50 million euros. Furthermore, we also aim to strengthen the Bank’s presence in some areas of northern Italy where it is currently less rooted ”.
Dots, Bper’s banking app that looks to generation Z
Dots is Bper Banca’s banking app developed for the iOS (Apple) and Android operating systems, with which it is possible to manage a card with Iban combined with an e-money account, send and receive money and make purchases online or in stores, via a physical card or using Apple Pay and Google Pay services. “It is a banking app, it does not want to be a bank but takes care of the functionality and actions within the bank. It is aimed at those looking for a more accessible and intuitive solution – says Francesco Brandani, Project and Team Leader DOTS of BPER Banca -. It is therefore close to those who take their first steps in the world of banking and want to accompany them on a path of growth, because as their needs grow, so does it. DOTS is aimed at individuals aged twelve and over, to then get to the management of the out-of-town, that is, studying outside, attending university and living with roommates. I am therefore referring to the so-called millennials and generation Z, those young people who are usually interlocutors who often find it difficult to turn to traditional banks “.
Objective: incubate the future
Dots allows you to control your finances thanks to a personal financial management (PFM) solution. Even DOTS, like Flowe, pays particular attention to eco-sustainability: all Dots physical papers are made of PLA, a material of vegetable origin up to 90%, while the envelope and the letter with which the product is delivered to the home are made of recycled paper. . Dots was created in synergy with Fabrick, starting from a white-label of services enriched with its own distinctive characteristics. “The effort that BPER made through the DOTS project was to try to incubate internally something that would otherwise arise in different ways (that of fintec) – said Diego Rossi, Head of the Everyday Bank Department of BPER Banca and Director General of Bibanca – and therefore reasoning with logics that are not traditional ones. Try to be very innovative while not forgetting our roots which are that of a very traditional group “.
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