Illimity Bank Partners with Finwave for AI Venture

illimity Bank SpA (IT:ILTY) has released an update.

Illimity Bank has struck a deal with Finwave/OCS Group to create a new AI-focused tech company, selling a 52% stake for 62.4 million euros. This move is expected to generate a net capital gain of 54 million euros and enhance Illimity’s capital position while outsourcing its IT operations to the new entity. The transaction aligns with Illimity’s strategy to strengthen its technological edge and achieve significant cost savings.

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