Italian financial IT provider SIA said that an ordinary shareholders’ meeting in Milan confirmed Carlo Tresoldi and Massimo Arrighetti respectively as chairman and chief executive officer (CEO) for the three-year period 2013 to 2015.
The new board of directors of SIA, which met immediately after the shareholders’ meeting, also confirmed Massimo Arrighetti as CEO and Bruno Accornero as deputy chairman. Completing the board are directors Paolo Baessato, Giulio Carmignato, Fiore della Rosa, Andrea Gorlato, Paolo Grandi, Nazzareno Gregori, Diego Piovan, Arturo Pisapia, Salvatore Poloni, Umberto Quilici, Marco Siracusano and Marco Tarantola.
SIA reported that despite uncertain market conditions and the persistence of the crisis, its results for 2012 surpassed those of the previous financial year and also the projections of the 2011-2013 industrial plan. In the second year of implementation of the strategic plan, revenue and profit targets were exceeded and more than 90% of the overall cost reduction objectives were achieved.
The group said that development strategy at international level was further reinforced especially in the western and eastern European markets through a focus on payment card processing services.
SIA was also helped by its leading role in the single euro payments area (SEPA), where work continues at full speed for the progressive introduction and consolidation of new payment instruments complying with pan-European standards, which must come into force definitively by 1 February 2014.
SIA also designed and created the first European hub for payments with mobile phones equipped with near field communications (NFC) technology, which has allowed a number of banks and telephone operators to launch the experimental stage of the service. Other financial institutions (FIs) and telecoms groups are also gradually joining this open infrastructure.
In 2012 SIA also launched a technology platform that permits merchants and FIs to gain access to MyBank, EBA Clearing‘s innovative payment method to make purchases online using one’s own home-banking application. The geographic coverage of the services SIA Group provides to its customers now extends across around 40 countries in Europe, the Middle East, Africa and South America.
Data from Swift’s latest RMB tracker shows exceptional growth in RMB adoption in the United Arab Emirates (UAE), witnessing a 210.8% growth in payments value of the currency since August 2014, albeit from a low base.
Sentiment in the financial services sector deteriorated in the three months to September, as firms digested the challenges of lower interest rates and the uncertainty caused by the vote to leave the European Union (EU), according to the latest CBI/PwC Financial Services Survey.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.