Intesa targets new digital-only clients after antitrust blow

By Jerry 
Italy’s biggest bank Intesa Sanpaolo (ISP.MI), opens new tab on Friday said it had acquired some 90,000 new customers through its digital-only arm Isybank, after an antitrust decision effectively halted the migration of existing clients.
Italy’s competition authority dealt a blow to Intesa’s fintech ambitions in November when it ruled the bank had to obtain explicit consent from the around 4 million clients it planned to move to Isybank based on their digital habits.
Intesa had informed customers digitally of an opt-out deadline.
Intesa has moved more than 350,000 existing customers, it said, against an original March target of 2.3 million.
With its client migration timetable in tatters, Intesa is sticking to a goal of adding one million new clients through Isybank by the end of next year.
Chief Technology Officer Massimo Proverbio said the delays had only affected the commercial strategy related to existing customers, while the digital transition to a cloud-based IT infrastructure progressed.
Source: REUTER

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