Nexi, together with its partner banks, manages c. 170 million payment cards and c. 29 billion acquiring and transactions across Europe.
Nexi, European leader in the digital payment market, has signed a five year agreement with IBM to modernise its core payment processing platform with IBM z16 technology and IBM Storage System. „The collaboration supports the PayTech’s strategic growth plan by accelerating the modernization of services, data and processes so digital channels and applications can be run reliably and securely, to the point of being quantum-safe.” – according to the press release.
Customer demand for digital banking services is rapidly increasing as regulatory and compliance requirements evolve and we move closer to a cashless society. Nexi is responding by modernizing its technology to help elevate customer experience across its expanding client base that includes more than 1000 financial institutions and more than 2 million merchants.
An important part of Nexi’s business strategy is to evolve its technology platform to a hybrid cloud architecture so digital channels and applications can securely run across any technology environment. Under the agreement, IBM will work closely with Nexi to provide the technologies and to add its expertise needed to support improved efficiency of the group’s digital payments services and growth of its workloads.
„The agreement with IBM is part of our infrastructure modernisation plan and allows us to improve operational efficiency and drive innovation while offering higher levels of resilience and security to respond even more effectively to the ever-increasing needs of customers,” comments Giuseppe Dallona, Group Nexi’s CIO.
Supporting the sustainable growth of Nexi, the IBM z16 is designed with energy efficiency in mind, allowing Nexi to achieve greater performance with less energy used. IBM technologies have steadily improved their energy efficiency, such as increasing the maximum system capacity per KW of a mainframe by more than 100 times in 14 generations. As a result, Nexi may see a reduction in infrastructure energy consumption by 25% and heat dispersion by another 25%. This may help reduce CO2 emissions, boosting the accomplishment of Nexi’s sustainability goals.
“Thanks to this collaboration, IBM will support Nexi on its growth path by providing resilient, secure and efficient technologies alongside a deep understanding of the financial sector. This will help Nexi accelerate the modernization of digital payments to improve customer experience while helping reduce the emissions of CO2 to foster a sustainable digital transformation”, says Nico Losito, Vice President, IBM Technology, Italy.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: