SIA new board of directors and growth plans unveiled

8 May 2013

Italian payments processor and IT provider, SIA has confirmed Carlo Tresoldi and Massimo Arrighetti respectively as chairman and chief executive officer (CEO) of the firm for the three-year period from 2013 to 2015.

The announcement, made at an ordinary shareholders’ meeting in Milan, also confirmed Bruno Accornero as deputy chairman at SIA. 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 eurozone 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 turnaround 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 work on the single euro payments area (SEPA), where compliance activities ahead of the 1 February 2014 migration deadline continues at full speed for the progressive introduction and consolidation of new payment instruments complying with the pan-European standards.

Commenting on future growth opportunities, SIA cited its design and creation of one of the first European hubs 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 in Italy. Other financial institutions (FIs) and telecoms groups are also gradually joining the open infrastructure it is trying to incubate.

SIA also launched last year a technology platform that permits merchants and FIs to gain access to MyBank, EBA Clearing‘s innovative payment and verification method that allows consumers to make purchases online using one’s own home-banking application, and it believes this may bring in future growth opportunities.

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