Prelios Innovation together with Centrale Credit Solutions and Allitude S.p.A. of the Cassa Centrale – Credito Cooperativo Italiano Group have jointly developed an IT procedure for automatic loading of the BlinkS standard data tape; BlinkS is Italy's go-to marketplace for NPE disposals.
Centrale Credit Solutions, a Cassa Centrale Group company that structures multi-originator sales transactions largely for its affiliated banks, views the BlinkS platform as an important tool for continuous deleveraging of secured and unsecured single-names or portfolios, which any bank can use in an independent and transparent manner, and has signed a three-year partnership with Prelios Innovation.
To facilitate use of the platform, with support from Allitude – the Cassa Centrale Group’s IT outsourcing and back-office services specialist – Prelios has automated the process by which data on credits to be sold are transferred from the parent company operating systems directly to the platform template.
“We are delighted with this development, which gives further impetus to the collaboration agreement set up with the Cassa Centrale Group just over a year ago,” said Gabriella Breno, CEO of Prelios Innovation, the Prelios Group Fintech specialist. “BlinkS simplifies and speeds up the NPE sale process and the results achieved with Centrale Credit Solutions and Allitude, another first of its kind in Italy, confirm our commitment to helping sellers turn sales from extraordinary into routine transactions, thanks to continuing technological and process innovations Again through our collaboration with Centrale Credit Solutions, we have also implemented a series of specific functions to enable the parent companies of our client banking groups to organize multi-originator sales directly on the platform and so improve process efficiency and effectiveness and enhance their role as coordinators.”
Fabio Pansini, Senior Consultant at Centrale Credit Solutions, added “Thanks to the support of Allitude and the partnership with Prelios Innovation, we have taken another step to increase the autonomy of our banks in proactive NPE management. Process automation and the ability to provide our banks with additional support on NPE sales will help them improve their NPL ratios consistently with their distressed portfolio disposal programs: given the sharp upturn in exposures we fear is coming as a consequence of the impact of the pandemic on Italy, this is a particularly important consideration. Furthermore, the new «Parent company» function developed with Prelios Innovation will enable us to put small-to-medium multioriginator sales on the market by making it possible to group the portfolios loaded on to the platform by individual banks, and so maximize their appeal and divestment value.”