Centrale Credit Solutions and Prelios Innovation: strategic partnership for BlinkS platform

Jan 27 2020

Trento-Milan, January 27, 2020 – Prelios Innovation and Centrale Credit Solutions, a company in the Cassa Centrale Banca – Credito Cooperativo Italiano Group that arranges distressed-loan sales and securitizations for the banks in the Group, have signed a strategic partnership agreement to promote implementation of the BlinkS non-performing loan trading platform at all 79 banks in the Cassa Centrale Group.

"We are delighted with this agreement, where Centrale Credit Solutions has chosen BlinkS as its exclusive partner,” said Gabriella Breno, CEO of Prelios Innovation, the Prelios Group fintech company. "The partnership is an extremely important step forward for BlinkS in terms of quality and scale, coming just a few months after the opening of the platform, which has already been joined by more than 50 national and international specialist operators. This is a result that reflects the need for efficiency, transparency and contained costs on the loan trading market.”

“The platform developed by Prelios will provide our banks with additional support in improving their NPL ratios in line with our Group's distressed loan portfolio disposal plan,” said Centrale Credit Solutions CEO Fabrizio Berti.

Francesco Uggenti, Head of Business Development at Prelios Innovation, added: “BlinkS simplifies and speeds up the non-performing loan sale process. We want to help sellers turn sales from extraordinary into routine transactions, and assist banks along the path set out by the European regulators, with whom BlinkS is the only Italian platform to actively collaborate. The system also brings unquestionable benefits for buyers, industry and the national economy as a whole.”

“Thanks to the BlinkS platform, a simple click will put the banks in contact with a multiplicity of investors, giving them a quick and transparent opening on to the NPE sales market,” commented Fabio Pansini, who oversaw the agreement for Centrale Credit Solutions.

The three-year agreement provides for the immediate start-up of a joint road show at all the banks in the Cassa Centrale Group, as well as technical and operational assistance for onboarding and start-up from the Prelios Innovation team that manages BlinkS.