Isybank, which was launched in June, is Intesa’s latest rollout of a cloud-based service, a key pillar of the lender’s strategy to fend off competition from online services and fintech groups, and Intesa hopes to transfer millions of customers across. An increase in digital investments is part of a broader plan to lower retail banking costs and focus on more profitable activities such as insurance and wealth management. As part of the transfer of accounts to Isybank, customers will lose access to Intesa’s 3,000 branches across the country and will have to manage their money entirely via an app.

https://www.ft.com/content/10cf7ebc-fb4c-48eb-80dc-9c2203ccc970