Italian private banking company Intesa Sanpaolo has partnered with IT services company Quid Informatica to help its digital bank, isybank, to launch financing products for its customers.

Intesa has signed a framework agreement with Quid, under which Qinetic will offer the core system and functions for isybank’s personal loan and mortgage lifecycle management.

The partnership, together with subsequent application maintenance services operation, will contribute to the digital transformation of isybank with a cloud-ready product, said Intesa.

Intesa Sanpaolo group coordination area technology and services head Enrico Bagnasco said: “Intesa Sanpaolo aims to become the first tier-1 bank to fully adopt next-generation cloud-based core banking solutions.

“The key elements of its new digital platform will be adopting cloud-native, modular, secure, scalable and always-available applications.

“With this in mind, we have selected the Qinetic platform, which meets the described characteristics and will be the starting point for developing the modernisation of financing for the retail and business segments according to proprietary requirements.”

Qinetic is a credit process management platform designed and developed to help financial services operators with their digital transformation with a cloud-ready product.

The company ensures coverage of the entire lifecycle of consumer credit processes, from origination to post-sale and closure.

It is an advanced technology platform, and a major player in the Italian market, in line with Intesa Sanpaolo’s vision of cloud-native, flexible and easy to integrate with the bank’s services.

Quid Informatica CEO Stefano Bertoli said: “Passing a thorough selection process and being chosen by a market-leading bank is a milestone in Quid’s growth and acknowledgement of the quality of the Qinetic product and its innovative scope at the service of the new digital banking model that the Intesa Sanpaolo Group has entrusted to Isybank.

“Beyond the contractual aspects, being able to contribute to the excellence of relationships between the bank and its customers is an additional incentive for us, and one that is consistent with Quid’s corporate ethos of generating value for consumers and our business customers.”