Nexi selects IBM to modernize Core Payment Systems

By Gloria Methri

European PayTech Nexi has signed a five-year agreement with IBM to upgrade its core payment processing platform with IBM z16 technology and IBM Storage System. The collaboration supports Nexi’s strategic growth plan by accelerating the modernization of its services, data, and processes so digital channels and applications can be run securely to the point of being “quantum-safe”.

The firm is modernizing its technology to help elevate customer experience across its expanding client base which includes 1,000 financial institutions and 2 million merchants. Nexi, together with its partner banks, manages 170 million payment cards and 29 billion acquiring and transactions across Europe.

Under the agreement, IBM will work closely with Nexi to provide the technologies and to add the expertise needed to support the efficiency of the group’s digital payments services and the growth of its workloads.

“The agreement with IBM is part of our infrastructure modernisation plan and allows us to improve operational efficiency and drive innovation while offering higher levels of resilience and security to respond even more effectively to the ever-increasing needs of customers,” said Giuseppe Dallona, Nexi Group’s CIO.

Supporting the sustainable growth of Nexi, the IBM z16 is designed with energy efficiency in mind, allowing Nexi to achieve greater performance with less energy used. As a result, the PayTech may see a reduction in infrastructure energy consumption by 25% and heat dispersion by another 25%.

Losito, Vice President, IBM Technology, Italy said, “Thanks to this collaboration, IBM will support Nexi on its growth path by providing resilient, secure, and efficient technologies alongside a deep understanding of the financial sector. This will help Nexi accelerate the modernization of digital payments to improve the customer experience while helping reduce the emissions of CO2 to foster a sustainable digital transformation.”