European PayTech firm Nexi has forged a five-year agreement with IBM to upgrade the former’s core payment processing platform by leveraging IBM Storage and IBM z16 technology.

Under the terms of the agreement, IBM will collaborate with Nexi to deliver the technologies and add the expertise required to support the increased efficiency of the group’s digital payments services and growth in workloads.

Through the partnership, the PayTech firm intends to bolster its strategic growth plan by expediting the transformation of its services, data and processes.

It is expected to enable the reliable and secure operations of digital channels and applications and achieve the point of becoming quantum-safe.

The upgradation will focus on enhancing Nexi’s core technological infrastructure, which acts as the foundation of its operations and digital payment services, stated Nexi.

Nexi Group chief information officer Giuseppe Dallona said: “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.”

Nexi is anticipated to leverage IBM‘s flash storage technology to help develop a highly available, secure, scalable, and intelligent platform that is intended for data resiliency and data-intensive workloads. 

Leveraging IBM’s energy-efficient technologies will allow the PayTech firm to reduce infrastructure energy consumption by 25% and heat dispersion by an additional 25%.

IBM Italy vice president Nico Losito 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 modernisation of digital payments to improve thhe customer experience while helping reduce the emissions of CO2 to foster a sustainable digital transformation.”