European payment services provider SIA-SSB has been elected by the Bank of Italy to manage the latter`s interbank computerised archive of bad cheques and payment cards (CAI - Centrale di Allarme Interbancaria).

With a value of over EUR 23 million, the contract is the result of a tender call made by the Bank of Italy for its CAI management. The contract is set to unroll for a period of five years with a possible three-year extension.

SIA-SSB is expected to manage the entire IT system at CAI headquarters, controlled by the Bank of Italy, as well as the interconnections with the remote sites (local archives) located at the notifying bodies’ premises.

The CAI will exchange data with the remote sites through the Italian Interbank Network (RNI).