Prelios Innovation: BlinkS for the first sale of multioriginator credits in the cooperative credit world

Trento, Milan, December 12, 2022 – As part of their disposal program for their stocks of Non-Performing Exposures (NPEs), 19 Banks in the Cassa Centrale - Credito Cooperativo Italiano Group have completed the first true multioriginator sale on a digital marketplace on the BlinkS platform.

The transaction, named NPL IX, follows the CCB Group’s successful experiences in 2021 assisted by BlinkS, including support for the GACS Buonconsiglio 4 NPL sale and the first true multioriginator UTP sale, Garait.

NPL IX involved 20 banks and had an overall gross book value of approximately 81 million euro. It was arranged on the BlinkS platform, which handled collection and standardization of the loan data tapes, and stratification of the portfolios, and provided support for the due diligence of the investors and the management of the entire bidding process for the assignment of the portfolio.

Gabriella Breno, CEO of Prelios Innovation, the Prelios Group fintech hub that developed BlinkS, said: “NPL IX is the first ever true multioriginator sale without a state guarantee on an NPE trading platform and we are delighted to lead the way in this field too. We continue to innovate, to assist our clients, to confirm the strength of our approach based on data standardization and structured management, synergetically exploiting investments and the implementations we develop thanks to the technical expertise of the BlinkS Team, with all our clients.”

Fabio Pansini from the Cassa Centrale Banca Credit Department said: “The use of the BlinkS Platform enabled us to cut the transaction's structural costs and accelerate the sale process, and simultaneously to set up contacts with new investors, which is very useful on this particular market. The synergy that developed between our Allitude software house and Prelios IT facilitated the completion of the first multioriginator transaction to be closed on the marketplace.”    

NPL IX opens up a new dimension for all banks and operators active in structuring multiseller sales of non-performing credits, especially as the forecast increases in loan stocks are confirmed, highlighting the growing need to standardize processes and so optimize the operating times of the players involved.