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Massimo Itta, Chief Commercial Officer of BANCOMAT, outlined the company’s ambitious three-pronged strategy for the future of payments, speaking at the ninth edition of the Payments Fair.
“Our vision is for complete simplification,” he announced, emphasizing the transition from a fragmented system of branded ATMs – dedicated to cash withdrawal, physical payments, and online transactions – to a unified BANCOMAT identity. This iconic and widely recognized brand, Itta explained, will undergo a significant value proposition revision, becoming more integrated and organic in its offering.
He further elaborated on the second dimension of this evolution: “It’s not simply about ATMs; it’s about evolving towards a complete payment experience ecosystem.” This ecosystem, Itta envisions, will maintain a physical presence but will increasingly embrace the digital landscape. This realm will be characterized by real-time payments, both online and peer-to-peer, alongside a portfolio of innovative services focused on loyalty and simplifying everyday payment scenarios.
“While agreements with our primary partners, the Italian banks, are crucial,” Itta emphasized, “our true cornerstone is the product itself.
Today, BANCOMAT offers the best payment solution in Italy, boasting a debit card that functions as a commodity for both domestic and international transactions. What truly sets us apart is the ability to facilitate both P2P payments and instant transfers – a consumer need and a directive from the European regulator pushing the banking world towards instant bank transfers.”
“BANCOMAT has managed to transform this regulatory directive into a consumer-friendly retail experience,”
Itta highlighted, “allowing users to send money or pay instantly with just a phone number, even when dealing with giants like Amazon.”
Looking to the future, Itta predicted a future where payment services will become increasingly digital, focusing on instant payments and new methods of digital engagement. However, he anchored this vision in a broader societal context: “We recognize that our customers are not just consumers. As a national asset and a strategic asset for Italy, we see our customers as Italian citizens first and foremost. This perspective will be key in developing services facilitating payments to the public administration, fostering digital identity and credentials. We aim to become the interbank bridge connecting our partner banks’ customers to this world of services.”
How does BANCOMAT plan to create a holistic payment environment beyond ATMs?
## Interview with Massimo Itta, Chief Commercial Officer of BANCOMAT
**Interviewer:** Welcome, Massimo. Thanks for joining us today. You recently unveiled BANCOMAT’s ambitious three-pronged strategy for the future of payments at the Payments Fair. Could you elaborate on this vision for our listeners?
**Massimo Itta:** Absolutely. At BANCOMAT, our vision is all about simplification and creating a unified payment experience. We recognize that the current system with branded ATMs for different functions like cash withdrawal and online transactions can be fragmented and confusing for consumers.
**Interviewer:** So, what’s the plan?
**Massimo Itta:** We aim to transition towards a single, unified BANCOMAT identity across all payment touchpoints. Our iconic brand, recognized by millions across Italy, will be the cornerstone of this integrated ecosystem. This means a revised value proposition, offering a seamless and organic experience for all users, whether they’re withdrawing cash, making physical payments, or engaging in online transactions.
**Interviewer:** That’s fascinating! But you mentioned this isn’t just about ATMs. What else is involved in this “complete payment experience ecosystem”?
**Massimo Itta:** Precisely. It’s about creating a holistic payment environment. This could involve collaborations with fintech companies, leveraging innovative technologies like mobile wallets, and expanding our reach beyond traditional touchpoints. Essentially, we want to offer a comprehensive and user-friendly payment solution that caters to the evolving needs of our customers.
**Interviewer:** Thank you, Massimo, for sharing these insights into BANCOMAT’s exciting future. We’ll be following your progress closely.
[[1](https://www.nexigroup.com/en/media-relations/news/2024/04/partnership-bancomat-nexi/)]
Ultra-Fast 3D Printer for Composites Targets European Market After North American Debut
Following successful installations at North American customers, the revolutionary CBAM25 3D printer, designed for high-volume production of composite plastic parts, is making its European debut.
The CBAM25, developed by Impossible Objects, caught the industry’s eye at the recent Formnext trade fair, particularly garnering attention from automotive manufacturers.
“As expected, the tremendous interest that the CBAM 25 enjoyed following its unveiling a few months ago was repeated last week in Frankfurt,” said Steve Hoover, CEO of Impossible Objects. “We had strong interest at the show from manufacturers across key verticals, including major automakers.”
What’s driving this excitement? Speed and versatility. The CBAM25 prints a layer in less than 4 seconds, even when using materials like carbon fiber or PEEK.
This impressive speed, which Impossible Objects claims is about 15 times faster than traditional SLS and HSS 3D printers, allows for significantly shorter production cycles. Currently, the CBAM25 supports four materials: PEEK or PA12 with carbon fibers, and PEEK and PA12 with glass fibers.
But speed isn’t the only factor. The CBAM25 also distinguishes itself by printing strong composite materials without warping.
“It is not only the speed that attracts attention, but also the fact that the strong materials are printed without warping,” Hoover explained.
The manufacturer aims to disrupt the market for CNC-machined parts with the CBAM25, offering a faster and more cost-effective way to produce complex plastic components.
Beyond automotive, the company sees potential in aerospace, defense, and electronics industries, where lightweight, high-strength components are crucial.
The first CBAM25 installations in the US are currently underway, with the European rollout beginning now. This expansion underscores the printer’s appeal and its potential to transform manufacturing processes across continents.
## 3D Printing Revolution: Composites Take Center Stage
**Host:** Welcome back to the show. Today we have a very exciting guest, Alex Reed, an expert in [Alex Reed’s Field] and someone well-versed in the world of 3D printing.
Alex Reed, thanks for joining us.
**Alex Reed:** It’s a pleasure to be here.
**Host:** We’re seeing a lot of buzz about a new 3D printer, the CBAM25, which is making waves after its success in North America. Can you tell us a bit about this technology and Boecker´s European launch?
**Alex Reed:** Absolutely! This is a truly game-changing development in the 3D printing landscape. The CBAM25 is designed specifically for high-volume production of composite plastic parts, something that was previously incredibly challenging to achieve. It uses a unique process that allows for rapid printing while maintaining exceptional accuracy and material properties. Its success in North America is a testament to its capabilities, and it’s exciting to see it now making its way to European markets.
**Host:** Why are composites specifically attracting such interest?
**Alex Reed:** Composites offer a fantastic combination of strength, lightweight properties, and design flexibility. [Alex Reed cites source [[1](https://onlinelibrary.wiley.com/doi/full/10.1002/inf2.12568)]]. They’re used in everything from aerospace to automotive to consumer goods. Being able to 3D print them opens up a whole new world of possibilities for manufacturers, allowing them to create complex shapes, customize designs, and accelerate production cycles.
**Host:** This sounds like it could be a major disruptor in various industries. What are some of the potential impacts you foresee?
**Alex Reed:** You hit the nail on the head. We’re likely to see this technology revolutionize various sectors. Imagine faster turnaround times for custom-made prosthetics, lighter and stronger car parts, and even entirely new product designs unlocked by the unique capabilities of 3D printing composites. It’s an incredibly exciting time!
**Host:**
Alex Reed, thank you for illuminating this exciting development for us. We’re truly on the cusp of a new era in manufacturing.
**Alex Reed:** My pleasure. I look forward to seeing how this technology continues to evolve and shape the future.
“We constantly make sure that customers can shop as comfortably as possible, so we open new stores where they are especially useful and needed, and we would be even closer to our customers,” says Lina Muižienė, executive director of the “Iki” shopping chain.
According to the size and supply, the “Iki” store in Kupiški was awarded 2 hearts. It will provide wide – up to 12 thousand. assortment of goods, so it will be suitable both for stocking up at home and for weekly or holiday shopping.
You are invited to immediately become a member of the “Iki” loyalty program
On the occasion of the opening, loyal customers will be treated to special offers valid only in the “IKI – Kupiškis” store. To be able to use them immediately, before the opening of the store, on November 25-27 from 10 am to 4 pm, “Iki” loyalty cards will be distributed free of charge near the store.
“We invite you to become members of the popular “Iki” loyalty program, because they receive even more discounts, attractive offers and opportunities to save. It’s easy to join even without a physical “Iki” card – you just need to download the “Iki” app, which will allow you to use the best promotions. In it, buyers will also find “Pigintuvu”, a favorite of our customers, they will be able to participate in challenges, collect points and exchange them for even more discounts or useful prizes”, says G. Kitovė.
“IKI – Kupiškis” will open its doors to customers on November 28, Thursday, at 10 a.m.
This will be the 6th new “Iki” store opened in the country this year, network expansion and renovations of already existing stores cover the whole of Lithuania.
#Iki #opens #store #Kupiški #promises #discounts #Business
What factors led to “Iki”‘s decision to open a store in Kupiškis specifically?
## “Iki” Opens Doors in Kupiškis: Bringing Convenience Closer to Home
**Interviewer:** Welcome to the show, Lina. Congratulations on the opening of “Iki”‘s newest location in Kupiškis! Can you tell our viewers a bit about the decision to open a store here?
**Lina Muižienė (Executive Director, “Iki” ):**
Thank you! We’re thrilled to be in Kupiškis and serving this community. Our mission is to ensure our customers have access to convenient and high-quality grocery shopping experiences. We carefully select locations based on need and we believe Kupiškis presented a wonderful opportunity to bring “Iki” closer to its residents. [[1](https://www.15min.lt/verslas/naujiena/finansai/iki-atidaro-parduotuve-kupiskyje-tai-pirmoji-parduotuve-siame-mieste-662-2348802)]
**Interviewer:** The store boasts a wide variety of goods. Can you tell us more about what shoppers can expect to find?
**Lina Muižienė:** Absolutely! This “Iki” location has been awarded 2 hearts, indicating a robust selection of products. We offer over 12,000 items, catering to both daily essentials and everything needed for weekly groceries or holiday preparations. We want to provide our customers with a one-stop shop for all their needs.
**Interviewer:**
Exciting! To celebrate the opening, “Iki” is offering some special promotions, right?
**Lina Muižienė:** That’s right! To reward our loyal customers and welcome them to our new location, we’re offering exclusive deals valid only in “IKI - Kupiškis”. We also encourage everyone to join our “Iki” loyalty program – it’s free to join and comes with many additional benefits, including discounts and special offers throughout the year.
**Interviewer:** Thank you so much for sharing these details with us, Lina. We wish “Iki” all the best in its new Kupiškis home!
Cyber Insurance Provider Files for Insolvency, Leaving Brokers and Policyholders Uncertain
The cyber insurance landscape has been shaken by the recent filing for insolvency of Cogitanda Dataprotect AG. The German company, which had carved a significant niche in the rapidly growing market for cyber risk coverage, filed for insolvency with the Cologne District Court earlier this week. This unexpected event has triggered widespread concern among brokers and policyholders alike, raising several critical questions about the future of existing policies and potential claims.
Waiting for Answers: Confusion and Uncertainty Reign
Legal experts are advising brokers and clients to exercise caution and avoid hasty decisions in the wake of Cogitanda’s insolvency. Attorney Vincent Jacobsen, from the Hamburg law firm Michaelis, emphasizes the lack of precedent in a case of this magnitude within the cyber insurance sector. He urges all parties to await further clarity before making any significant moves.
A key point of contention is whether policyholders now have a special right to terminate their contracts with Cogitanda. Jacobsen asserts that, based on current understanding, such a right doesn’t automatically arise from the insurance contract itself. He cautions against attempting to derive this right from broader civil law regulations, noting the inherent legal uncertainty until the situation is fully resolved.
“The actual insurance contract doesn’t exist with Cogitanda,” clarifies Jacobsen. “Behind all Cogitanda covers, there are consortia in the form of open co-insurance arrangements. This means there are regularly independent and separate insurance contracts with the named insurers in the insurance certificate to the extent of the stated participation quotas .”
What Happens to Existing Policies?
Cogitanda structured its insurance offerings through this consortium model, partnering with other established insurers such as two Lloyd’s syndicates, Sparkassenversicherung, Versicherungskammer, and Württembergische. This structure offers a glimmer of hope for policyholders, as their coverage may continue through these partner insurers.
Jacobsen foresees a high likelihood that both current and extended insurance contracts will remain valid and continue to provide protection to policyholders. However, he emphasizes the need for transparency and communication. Brokers are advised to proactively inform their clients about the situation, keeping them apprised of any developments and updates.
The Road Ahead: Navigating Uncertain Terrain
While the immediate future remains uncertain, a Frequently Asked Questions (FAQ) document is anticipated from Cogitanda to provide further guidance to brokers and policyholders. Until then, patience and a wait-and-see approach are crucial.
Brokers are having to tread carefully, balancing the need to reassure clients with the lack of concrete answers. They are urged to focus on clear communication, avoiding any actions that might inadvertently breach agreements or jeopardize coverage.
The magnitude of Cogitanda’s insolvency throws a spotlight on the complexities inherent in cyber risk coverage. While the ultimate outcome remains to be seen, this situation presents a valuable opportunity to review existing policies, clarify coverage details, and ensure comprehensive protection against the ever-evolving landscape of cyber threats.
What legal recourse do policyholders have in the event of Cogitanda’s insolvency, specifically regarding the termination of contracts?
## Cyber Insurer Insolvency: A Conversation with Legal Expert Vincent Jacobsen
**Interviewer:** The cyber insurance world has been rocked by the recent insolvency filing of Cogitanda Dataprotect AG. Attorney Vincent Jacobsen, thank you for joining us today to help shed some light on this complex situation.
**Jacobsen:** It’s a pleasure to be here. As you mentioned, Cogitanda’s insolvency is unprecedented in the cyber insurance sector, leaving brokers and policyholders in a state of understandable confusion.
**Interviewer:** What are the immediate concerns for those who have policies with Cogitanda?
**Jacobsen:** The most pressing question is the fate of existing policies and potential claims. Unfortunately, there is no easy answer as of yet. The lack of precedent in such a scenario makes it difficult to predict the outcome.
**Interviewer:** Some policyholders are wondering if they have the right to immediately terminate their contracts with Cogitanda.
**Jacobsen:** That’s a common question, but the answer isn’t straightforward. Typically, insurance contracts don’t automatically grant a right to terminate based on the insurer’s insolvency. While some might try to argue for such a right using broader civil law regulations, it’s a complex legal issue that requires further clarification. At this stage, I urge caution against making any hasty decisions.
**Interviewer:** Can you explain what you mean by “open co-insurance arrangements”?
**Jacobsen:** What many people don’t realize is that Cogitanda didn’t directly underwrite all the policies itself. Behind every Cogitanda cover, there were consortia consisting of multiple insurance companies participating in an open co-insurance arrangement. This means there are individual contracts between the policyholder and each participating insurer, adding another layer of complexity to the situation.
**Interviewer:** This sounds incredibly complicated. What’s the best course of action for brokers and policyholders right now?
**Jacobsen:** The most prudent approach is to wait patiently for further information and legal clarification. It’s crucial to avoid making any decisions based on speculation or incomplete information. Consulting with a legal expert specializing in insurance is highly recommended in navigating this complex situation.
**Interviewer:** Thank you, Attorney Jacobsen, for providing your valuable insights during this uncertain time. We hope that clarity will be forthcoming for all affected parties soon.