Become the national champion of digital payments in partnership with banks, through substantial investments in technologies and skills and by acquiring an international scale. This is the objective of the 2017-2021 Industrial Plan of theCentral Institute of People's Banks (Icbpi) developed by the new managing director, Paolo Bertoluzzo, and approved yesterday by the board of directors.
The project is part of the process started last year with the acquisition of Icbpi – CartaSi by the new shareholders Advent International, Bain Capital and Clessidra. The strategy to achieve the plan's objectives will mainly be based on four key elements: safe and innovative products and services in partnership with banks; growth of skills and scale through acquisitions; investments in technologies and skills and a more efficient business model.
In detail, explains a note from the Institute, there are four drivers on which the development strategy is based. First of all organic growth, which will be achieved through the conception and implementation of new product offeringsas well as providing services in partnership with banks, such as those related to the world of e-commerce, instant payments, mobile digital payments and highly innovative debit cards.
The second driver is a process of acquisitions aimed at increasing the scale dimension at the level of the major international realities. To date, on this point, Icbpi – CartaSi and its shareholders have already invested 2 billion euros for the acquisition of Isp Processing (Setefi – Isp cards) from Intesa Sanpaolo, of Bassilichi, of the merchant acquiring activities of Monte dei Paschi di Siena and of Deutsche Bank.
Third key element is an investment plan of over one billion euros in digital technologies and products, with the entry into the company of new qualified and innovation-oriented resources. In addition, new resources will be invested on the commercial front in partnership with the banks.
Finally, a constant and rigorous search for efficiency which will also make it possible to free up additional resources to support investments.
The industrial plan also follows the reorganization carried out last November which introduced the adoption of an operating model divided into five business units: Issuing, Merchant Services, Payment, Securities Services, Oasi and the creation of strong poles of expertise for technology , operations and commercial banks.
