Cedacrinord is formed by five banks. The aim of the Members is to entrust the company with the design, development and management of a new information system for shared use, with a view to improving the quality of IT services and achieving substantial economies of scale
Cedacrinord opens its doors to the market: for the first time, a service contract is entered into with a non-Member bank
Ge.Po. is formed for the purpose of reducing the costs deriving from the management of the primary back office activities, with particular reference to those handled by the Bills Department.
Cedacri Ovest is formed at the initiative of five banks. The aim of the Members is to pool the management and development of information technology with a view to using their collective critical mass to achieve greater economies of scale and devote more resources to innovation.
Cedacrinord hones its commercial strategy of supplying its information system to other service centres: Cedacri Ovest, Istiservice and OSC.
1994 - 1998
Cedacri Ovest extends its area of interest to complementary activities to IT: it forms C.S.A.B. - which specialises in the handling of cheques, bills, document storage and support in ATM and POS management. In 1995 Cedacrinord sets up Ribes, which specialises in the collection and on-line distribution of information from land registry data and Chamber of Commerce perusals. In 1998, the partnership between Ge.Po. and Postel spawns Docugest, a company specialising in customer communications, printing and mailing.
2000 - 2003
In 2003 Cedacrinord and Cedacri Ovest are founded, creating a single reality: Cedacri that established itself as a specialized operator for the entire banking sector
A merger that testifies to the concentration underway on the banking Outsourcers market in parallel with that of the credit system.
Cedacrinord founds Cedacri.net in order to offer banks dependable Call Centre services and support in the development of web projects.
Ge.Po. forms Back Office Services, which specialises in the management of the back offices for payment systems and back offices for public body treasuries.
Cedacri gradually puts up an offer of vertical outsourcing solutions for the Finance Department, Regulatory Reporting, Branch, General Ledger and Accounts Payable.
On completion of the company re-organisation embarked upon in 2003, a company specialising in business service outsourcing is formed on 1 July 2007, under the name C-Global - Cedacri Global Services, further to the merger of Cedacri Group subsidiaries Ge.Po., Back Office Services, Cedacri.net and CSAB.
Cedacri International is set up at the end of 2007 as a wholly owned subsidiary of Cedacri. The new company is based in Chinsinau in Moldova, and is assigned the task of supporting the Italian parent company in the development of software components for the information system, through the performance of certain programming.
2008 – 2010
Cedacri decided to make profound changes to its operational and cultural model, with a view to streamlining costs, further improving service levels and continuing to invest in the development of its Information System and the extension of its offering.
Cedacri’s Group completed the first important step in repositioning and recorded a significant expansion of its clients.
The new Collecchio offices were inaugurated in October 2011: an investment of 13 million euro which testifies to the Group's financial solidity and continued commitment to growth.
As part of its strategy to consolidate its position in the medium/large banking sector and acquire important competencies in the development of custom software, Cedacri acquired SiGrade in late 2011, a company specialised in banking and finance software solutions.
Thanks to continuous investment, Cedacri develops a series of projects for the evolution of the application platform: from Front End Unico platform to the new applications for credit process management, from biometric signature system solution to mobile payment.
Front End Unico, the new Cedacri branch off platform, integrated with the solution of biometric signature, triumphs at ABI Lab Forum 2012 as the most innovative technological solution.
In September 2012 , Reale Mutua Assicurazioni , the largest Italian insurance company, chooses Cedacri as a partner for its IT infrastructure and buy a share of 2.01% of the share capital of the company.
2013 is a year of significant investments in research and development for Cedacri: the company has invested 37 Mln Euro in the innovation of technologies, systems and applications, in particular in the context of credit, direct channels and e-money.
Cedacri sells to Tecnoinvestimenti 36% of Ribes S.p.A. share capital. Ribes comes out to the consolidation perimeter of Cedacri Group.
Even in 2014-2016 Cedacri confirmed the significant commitment to investment in research and development. in fact, the company about 110 Mln Euro in innovation of systems, applications and technologies. The main areas of investment to support banks in the evolution of their business models towards digital transformation were: omnichannel, process digitization, payment systems and Big Data.
With the entry of FSI into the share capital of Cedacri with a 27% stake, the company's leadership in services for the financial sector is strengthened and new development prospects are opened. The remaining 73% is maintained by 14 of the main client banks. The remaining 73% is held by 14 major banks customers.
The Board of Directors of Cedacri S.p.A in October 2018, entrusted engineer Corrado Sciolla with the position of CEO of the company. The choice of the new CEO has the goal of bringing to fruition the growth strategies, defined as part of the entry of the FSI into the shareholding structure, while also increasing the ability to provide client banks with excellent service and continuous technological innovation.
Cedacri continues to invest in the evolution of its Information System, innovating platforms and services. In 2018, the annual investment in innovation was over 30 million euros, to respond to the priorities of the client banks: guaranteeing compliance with regulatory requirements, carrying out the digital transformation, collaborating with non-traditional operators to offer the customer a complete experience, developing models and solutions for financial sustainability, and effectively managing non-performing loans.
In the same year, the 1st Sustainability Report was drawn up: a structured reporting document in line with the most advanced international non-financial reporting standards, which combines the information on management approaches with the company's economic, environmental and social performance.
At the beginning of 2019 Cedacri acquired 100% of OASI S.p.A., a leading Italian company in software and integrated IT solutions for anti-money laundering and regulatory reporting. At the end of the same year, another acquisition was successfully completed, involving 88% of CAD IT S.p.A., Italian leader in the supply of application software and services for the finance sector.
The recent acquisition of OASI, which is an Italian excellence in the business of regulatory and compliance activities, and of CAD IT, which boasts 90% market share in Italy in application software and services for the finance sector, in addition to the presence in other European markets, allow Cedacri to successfully pursue its growth objectives.
Cedacri continues to envolve its Information System, investing 51.7 million euros in the innovation of platforms and services, in particular RegTech and technological and business evolution of banks, through a shared path of digital transformation
In May 2020, in smart working mode, during the lockdown, the important migration project of the Deutsche Bank technology platform on the Cedacri "core banking" system is completed. This is the first IT transformation project from an in-house model to a software as a service model, carried out with an Italian partner by a large global banking institution.
During the year the Core Banking modernization program continues, with a cloud-based microservice logic, the AIRB pooled developments are completed: models for the prediction of the probability of default, loss given default and exposure at default, for corporate counterparties, SMEs and individuals, and the first implementation of a hybrid cloud architecture in Cedacri is completed: the insourcing of the OASI Data Center.
At the end of 2020 Cedacri increases its stake in CAD IT, coming to control 95.4% of the company and the merger by incorporation of Oasi into Cedacri is completed.
On March 5th 2021, Cedacri was acquired by ION Investment Group, a leading fintech company on the international market in the development of software, data and analysis for international financial institutions, central banks and large corporations.