Nexi, the specialist Italian ‘paytech’ bank, announced plans to use IBM to modernise its core payments processing system in a five year agreement that includes the adoption of hybrid cloud infrastructure.
Nexi’s client base includes more than 1,000 financial institutions and more than two million merchants.
Citing the increase in customer demand for digital banking services, alongside regulatory and compliance requirements, Nexi’s business strategy is to evolve its technology platform to a hybrid cloud architecture.
"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," said Giuseppe Dallona, CIO of Nexi Group (pictured).
The modernization will focus on transforming Nexi's core technology infrastructure that sits at the heart of its business as the foundation for operations and digital payment services, upgrading mainframes to IBM’s z16 system. With the resulting increase in transaction speed and general improvements, Nexi claims it may see a reduction in infrastructure energy consumption by 25% and heat dispersion by another 25%.
IBM claims its z16 mainframes used in this transformation are a ‘quantum-safe’ system, utilising specialist cryptography in their underlying processors to protect data against future threats that could evolve with advances in quantum computing alongside existing threats.
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.
[Image source: Nexi Group]