Intesa Sanpaolo, through its local bank Banca 5, and Sisal Group, through SisalPay, have signed an agreement to set up a newco which will allow offer banking products, payment and transactional services in over 50 establishments distributed throughout the country and through which approximately 45 million citizens pass daily. In a dynamic competitive context such as that of proximity payments, the new company, 70% owned by Sisal Group and 30% by Banca 5, will represent the first Italian network with a "proximity banking" model, which - integrating physical and digital channels - will guarantee, according to principles of social responsibility, great benefits to consumers and to the network of establishments affected by the agreement, through the offer of simple banking products and payment services.
The new network, which will be fully operational from the beginning of 2020, will integrate the range of services and products of Banca 5 and SisalPay including in particular cash withdrawals up to a maximum of 150 euros per day, but also agreed collections (for example, refunds on behalf of large companies) and notices of payment (such as MAV and RAV) for Intesa Sanpaolo customers, as well as the payment of payment slips, taxes and pagoPA services; telephone top-ups and prepaid cards; the purchase of tickets and season tickets for transport services; the purchase codes of the most popular marketplaces and Apps.
“Intesa Sanpaolo – he commented Stephen Barrese, head of the Banca dei Territori Division of Intesa Sanpaolo – strongly believes in proximity to its customers for the offer of the simplest banking services. With a view to complementing the current branch network, focused on consultancy and high-value services, our Group wanted to invest in this new company to become a leader in proximity financial services. Considered the extreme capillarity of the presence of the commercial establishments involved, the new reality will allow the 12 million customers of the Banca dei Territori division of Intesa Sanpaolo to have access to basic financial products and transactions in an even simpler and more accessible way, even in the municipalities and smaller hamlets which today are left without a direct banking presence”.
“With SisalPay – declared Emilio Petrone, CEO of Sisal Group – we have developed a new way of paying, convenient and secure, which has simplified the lives of Italians and created value for businesses and the Public Administration. We have done this by constantly focusing on customer needs and working alongside our dealers. I am very pleased that two excellences such as SisalPay and Banca 5 are coming together to give life to the first Italian proximity banking reality, realizing the most accessible channel of financial and payment services in our country. An important opportunity to enhance the evolution path of the payments business, which makes concrete the development plan set up and stimulated by our shareholders of CVC Capital Partners. Thanks to this important agreement we will be able to further improve the quality of the service offered to our customers and to all citizens”.
