Connect with customers or face extinction, banks told

Banks in Italy and beyond must find new ways to connect with consumers, or risk going out of business. But how to achieve a successful transformation exercised the minds of senior bank representatives at the SIA Expo in Milan this week.

SIA to shake up “fossilised” P2P payments in a Jiffy

Italian payment processing specialist SIA has released a new P2P payments service that allows users to send and receive funds on their smartphone using their phone contacts. Called Jiffy, the app has been welcomed by Italian retail banks – but SIA’s ambitious plan calls for the service to be rolled out to 400 million European current account holders.

Banca Popolare di Bari in branch refresh with NCR

Italy’s Banca Popolare di Bari has chosen ATM manufacturer NCR to help it revitalise its branch network with a new set of systems that it says will help to cut queues and better connect with customers.

Italian banks sell stake in SIA

The group of banks holding a controlling interest in SIA, the Italian payments processor and systems developer, have reduced their ownership in a sale to a consortium of investment funds led by Fondo Strategico Italiano.

SIA’s Andrea Galeazzi takes up chairmanship at Emmecom

Andrea Galeazzi, director of network services at Italian payments and technology infrastructure company SIA, has taken up a new role as chairman at Italian telecoms firm Emmecom. The move is part of SIA’s acquisition of the smaller firm, which took place in July and forms a key part of its European expansion plans.

Mobile payments success needs complete ecosystem

The public is ready to adopt mobile payments in many aspects of their lives, but service providers need to have a defined role in the ecosystem and an understanding of how they interact with other players and the consumer.

Italy’s ICBPI deploys Milan trading tools

Italian banking group Instituto Centrale Banche Popolare Italiane has introduced a new trading and recording system across its Milan operations, which it says will help it to better keep up with changing regulation and offer a better service for its traders.

Warsaw installs co-lo as Italy imposes HFT tax

Poland’s Warsaw Stock Exchange has introduced co-location systems designed to appeal to high-frequency traders, as Italy clamps down on HFT with Europe’s first HFT-specific tax. The moves highlight ongoing national and international divisions over the role of HFT in capital markets.

SIA ramps up European expansion

Financial technology company SIA has acquired Italian telecoms firm Emmecom, as part of a plan to create a new technology infrastructure across Europe for merchants and banks.

New research slams “cynical” financial transaction tax

The imposition of a financial transaction tax in Italy on Friday has prompted condemnation from senior financial market observers, who are warning that the new rules could tip Europe into a liquidity drought that will damage banks and asset managers, punish traditional market participants and encourage a slide away from equities towards other asset classes.