Milan, February 18, 2020 - Today, Banca Progetto, the digital bank specialized in services for Italian SMEs and private customers, announced that it has selected Amazon Web Services (AWS) as its sole cloud provider. With AWS, Banca Progetto will improve its operations, modernize its technology infrastructure, enhance security, speed up innovation, and transform the banking experience for its customers across Italy. Banca Progetto is already leveraging advanced AWS services, including data analytics and machine learning (ML), to automate financial operations and enhance customer facing web and mobile applications, in accordance with Bank of Italy and European Central Bank regulations, and plans to migrate additional current and future production workloads to the AWS Europe (Milan) Region, when it launches in early 2020.
Banca Progetto chose AWS because of its broad and deep portfolio of cloud services as well as proven operational excellence and experience in delivering the highest levels of security and compliance to financial organizations of all sizes—from Fintech startups to universal banks—across the globe. The bank is integrating AWS’s analytics and ML services into its business processes to drive greater insights and build a more personalized banking experience for its customers. Banca Progetto is already taking advantage of advanced ML services, including Amazon Rekognition, a service that makes it easy to add image and video analysis to your applications, and Amazon Sagemaker, a fully managed service to build, train, and deploy ML models, to drastically accelerate customer services processes. Utilizing these services for their “Conto Progetto” (savings account) product, the bank has reduced the time taken to process and open a new account from two weeks to just fifteen minutes. In addition, Banca Progetto has already migrated mission critical processes, including mobile app backend and customer onboarding applications, off of legacy databases and onto Amazon Aurora, increasing capacity and allowing faster processing of customers’ requests, while supporting the bank’s continued double-digit business growth.
“Our vision is to be the leading financial services organization for Italian small and medium enterprises and private customers, and to achieve this, we have chosen to work with the world’s leading technology company,” Paolo Fiorentino, CEO of Banca Progetto. “We recognize we need to adopt a cloud-first approach to our business if we want to truly innovate. Now, with AWS Cloud technology as the foundation of our innovation, we can better cater to our customers constantly evolving needs. The upcoming AWS Region in Italy, with its high levels of security, combined with Banca Progetto’s customer obsession, will allow us to build Italy’s financial services organization of the future.”
“We are excited to work alongside Banca Progetto as they build the bank of the future on AWS,” said Carlo Giorgi, Managing Director, AWS Italy. “AWS is transforming the financial services industry as organizations look for new ways to enhance customer experiences, and power their entire enterprise operations more efficiently and effectively on the cloud. Banca Progetto is a great example of a pioneer in the financial services sector, leveraging AWS to innovate at a faster clip, maintain operational excellence, and provide the most secure banking services to customers in Italy.”
About Banca Progetto
Banca Progetto S.p.A., born in 2015 from the reorganisation of Banca Popolare Lecchese carried on by the Californian fund Oaktree, operates in the market credit to households and businesses also through the digital channel. With offices in Milan and Rome and a commercial network present throughout the country, Banca Progetto is specialized in providing services for small and medium-sized Italian companies and private customers, in particular in Cessione del Quinto products targeting both private companies and State-control employees. The Bank also provides medium-long term loans to small and mid-companies.
About Amazon Web Services
For almost 14 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 175 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 69 Availability Zones (AZs) within 22 geographic regions, with announced plans for 16 more Availability Zones and five more AWS Regions in Indonesia, Italy, Japan, South Africa, and Spain. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.