Intesa Sanpaolo completes cloud migration of core banking systems to Google Cloud

Product / Tech
โดย Reuters·Read original
Summary · why it matters

Italy's biggest bank Intesa Sanpaolo has completed the cloud migration of its core IT systems, joining a small group of European banks that have moved away from legacy mainframe technology. The shift, part of a multi-billion-euro cloud transition project, relied on two Italian Google Cloud regions in Turin and Milan hosted by TIM's data centres. More than 800 applications were migrated to Google Cloud infrastructure, and an equal number were decommissioned within the bank's physical headquarters. The bank had previously launched cloud-based digital bank Isybank in 2023 as a testing ground for the full cloud shift. Intesa now joins a handful of European peers that have pursued large-scale cloud migration, including Danske Bank, Lloyds, HSBC, Santander, and BBVA.

Impact on stocks 8

Financials▲ · 5 stocks
Intesa Sanpaolo S.p.A
IES
▲ PositiveTechnologyrelevance

Intesa completes core banking cloud migration, a major technology milestone improving efficiency and scalability.

Cloud & Digital Infrastructure▲ · 2 stocks
Telecom Italia
0H6I
▲ PositiveDemandrelevance

TIM's data centres host the Google Cloud regions used by Intesa, generating revenue from hosting services.

Alphabet Inc Class C
GOOG
▲ PositiveDemandrelevance

Google Cloud wins a major cloud migration deal from Intesa Sanpaolo, boosting cloud services demand.

Digital Finance & Tokenization▲ · 1 stocks

Theme Impact 2

Off-coverage companies 1

IsybankPrivate± Mixed
relevance

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