Two years after the launch, isybank, the Intesa Sanpaolo's digital bank, closes 2024 with solid results and growth that confirms the validity of the Group's digital strategy. Born in 2023 as a key project of the 2022–2025 Business Plan, isybank has exceeded one million customers, mostly new users, establishing itself as a competitive player in the rapidly developing Italian fintech sector. Led by Antonio All are valid, with solid experience in fintech and risk management – including its role as creator of the Italian challenger bank Hype – isybank represents “another piece in the broader digital transformation project that sees the entire Group play an innovatory role at the European level, thanks to the isyTech infrastructure,” underlines the CEO.
A digital bank, with an industrial project
Unlike many fintechs born as independent startups, isybank was conceived as an integrated initiative in omnichannel model of Intesa Sanpaolo – within the Territorial Bank Division driven by Stephen Barrese -, with the aim of offering a completely digital banking experience, thanks to the solidity, security, and reliability of a large traditional bank.
In support of this integrated model, technology plays a fundamental role: the system is based on Vault, the core banking engine of thought machine, chosen for its multi-currency and multi-national flexibility, and is hosted on the cloud thanks to Tim e Google Cloud.
To ensure structured growth and support this approach, the Business Plan has foreseen investments for 650 million of euros dedicated to Isybank, with the aim of optimizing costs and improving the operational efficiency of the entire Group.
Isybank, the balance sheet after two years: one million customers and balances over €2,6 billion.
According to the published results, the bank recorded in 2024 a net profit of 13,7 million euros, with revenues Total close to 100 million and Costsoperational at 28,8 million euros, with a cost/income ratio less than 30%. total inventory exceed €2,6 billion, with an average balance per account of €3.000, well above the fintech industry average. Closing the second year with a positive result is "an important achievement that consolidates our growth path," Valitutti emphasizes.
He stressed Charles Messina, CEO of Intesa Sanpaolo, during the presentation of the half-year results: "Our digital bank, launched just two years ago, has already reached one million customers, confirming the success of our digital strategy." This milestone was achieved primarily through the acquisition of new account holders, with a strong acceleration also in the first months of 2025.
A simple, convenient offer with a focus on young people
The service is based on a simple offering, designed for mobile use. The offering is structured on three-story account, including the most complete isyPrimefree for under 35s. Tools are available digital savings (like the piggy bank), carte, Loans, investment services. Furthermore, initiatives related to gender equality, financial awareness, and the promotion of savings among young people are promoted.
This vocation towards a predominantly public healthier skin it is reflected in the composition of the clientele: 70% are under 30 years old, while 75% are under 35, although the base is also growing rapidly in the age groups over 40 and 50.
"Our client is under 30," Valitutti stated. "They could be a student earning their first income or a young worker, looking for convenience, ease of use, and very simple needs, which they want to satisfy using their smartphone."
Monthly customer activity is also high: over 55% are active, with at least one transaction per month. There are 150 salary deposits and 220 direct debits, data that confirms that isybank has become much more than a simple "secondary" account managed by an app. Further evidence of its success: the isybank app è among the most downloaded on the Apple Store in Italy.
A hybrid model: digital combined with the human touch
The distinctive element is the hybrid model: completely digital, but with the support for over 2.300 managers of the Digital Branch, available even on weekends and holidays, supported by chatbots and real-time assistance. A model designed to ensure operational autonomy, but also human interaction when needed.
As Valitutti explains, "isybank is a success story both in terms of technological innovation and its service model, which combines digital with a human touch, attentively and constantly listening to customers."
Looking to the future, the CEO stated: “For the future of our growth strategies, we are studying all the value creation options pursued by our digital competitors and capable of efficiently generating value for the Group.”
Governance and operational headquarters
The Board of Directors of isybank is chaired by Francesco Profumo, with Mario Boselli in the role of vice president. It also includes ClaudiaVassena, Silvana Chilelli, Vanna Alfieri, Giampimo Bracchi, Renato Cerioli, Achille Galdini and the same Antonio Valitutti.
The bank's headquarters are located in Milan, in Gioia 22 skyscraper, in the Porta Nuova area, Milan's emerging innovation district, which also houses other Group divisions. The building, designed according to the highest environmental and workplace well-being standards, places isybank at the heart of the city's urban and technological innovation.
