Prelios Innovation and Centrale Credit Solutions, a company in the Cassa Centrale Banca - Credito Cooperativo Italiano Group that arranges non-performing loan sale transactions for its banks, announced the completion of the first sale on the Prelios BlinkS platform, a sole-name mortgage originally granted by a bank in the Cassa Centrale Group.
“We are delighted with this result, which comes just a few months from the start of our partnership with the Cassa Centrale Group, and despite the tight restrictions on operations due to COVID-19,” said Gabriella Breno, CEO of Prelios Innovation, the Prelios Group's Fintech company. “The joint road-show in February, when we presented BlinkS to all the Cassa Centrale regional managers, and the adherence of the banks confirmed that the rationale behind the commercial agreement was correct, and this first sale demonstrates the effectiveness of our platform, also for primary-market transactions.”
Fabio Pansini, who handled the launch of the partnership for Centrale Credit Solutions and coordinates the various banks on NPL operations, said: “After an initial running-in period, the operating partnership with Prelios Innovation for the use of the BlinkS platform is beginning to produce results. We expect to see an increase in transactions once the platform is fully operational in all the Group's banks, giving them an additional tool for proactive management of distressed loans.”
The three-year agreement will soon be extended to other types of loan – UTPs in primis – to continue supporting the Cassa Centrale Group in its NPE deleveraging program.