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Financial institutions are working to keep up with innovation and modernize their technology, with Intesa Sanpaolo recently completing the migration of its core IT systems to Google Cloud.
This project involved transferring over 800 applications to Google’s infrastructure, with an equal number decommissioned within the bank’s physical headquarters.
Massimo Proverbio, Intesa’s chief data, AI and technology officer, stated that the partnership with Google Cloud and TIM Enterprise allowed the bank to change its technology, reduce costs, and lay the foundations for its cloud-native digital technology platform, Isytech.
Temenos has announced new leadership appointments, including Tony Coleman as chief technology officer, Cormac Flanagan as chief product officer, and Sriraman Ganesan as global head of product engineering.
These appointments are part of a broader organizational restructure of Temenos’ leadership team, with former chief product and technology officer Barb Morgan stepping down from her role.
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Temenos will assume new roles on August 3, joining the firm at the same time as incoming chief financial officer Daniel Schmucki.
Swift has launched a new international framework for consumer cross-border transfers, with UK banks such as Barclays, HSBC, NatWest, and Lloyds Banking Group among the first to go live.
This framework requires banks to display the exact fee and exchange rate to consumers before they make a low-value cross-border transfer, ensuring the full amount arrives without hidden mid-transit deductions.
The initiative aims to make the cost of international transfers clear from the start, while allowing the sender to track the payment so that they can follow every step of the transfer until it arrives.
The financial sector continues to evolve.
Related: Mastercard boosts security with new payment features
In the case of Intesa Sanpaolo, its migration to Google Cloud is expected to enhance its operational efficiency and reduce costs, while also providing a solid foundation for its future growth and development.
ICS Financial Systems has completed a greenfield ICS BANKS deployment with the African Bank of Oman, a new corporate and investment bank that launched operations in Angola in April this year.
This is the first time ICSFS has delivered a project in Angola, adding to its established client portfolio in the Middle East and Africa, comprising over 80 financial institutions.
Thought Machine has secured a funding transaction.
