Trento, Milan, 12 December 2022 - 19 Banks belonging to the Cassa Centrale - Credito Cooperativo Italiano Group, as part of their process of divestment of Npe (Non-performing exposures) stock, have concluded on the BlinkS platform the first multi-originator true sale of non-performing loans managed on a digital marketplace.
The transaction, named NPL IX, is in line with the CCB Group's successful experiences during 2021 and assisted by BlinkS, including the support to the sale of NPL loans GACS Buonconsiglio 4 as well as the first multi-originator true sale of UTP loans named Garait.
NPL IX, participated by 20 institutions and with a total GBV (gross book value) of approximately EUR 81 million, was structured on the BlinkS platform, which acted in the loan data tape collection phase, in the normalisation of the tracks and stratification of the portfolios, in the support of investors' due diligence, and in the management of the entire competitive portfolio allocation process.
Gabriella Breno, CEO of Prelios Innovation, the fintech company of the Prelios Group that developed BlinkS, says "NPL IX is the first multioriginator true sale without state guarantee ever performed on an Npe trading platform and we are happy to be the forerunner in this field as well. We continue to innovate, to assist our clients, to confirm the validity of our approach based on standardisation and structured data management, exploiting synergistically, the investments and implementations that we are able to develop, thanks to the technical expertise of the BlinkS team, with all our clients".
Fabio Pansini, from the Credit Department of Cassa Centrale Banca, said: "The use of the BlinkS platform allowed us to reduce the structural costs of the transaction and accelerate the sale process, while initiating contacts with new investors, which is very useful in this particular market. The synergy created between our software house Allitude and Prelios IT facilitated the finalisation of the first multi-originator transaction closed on the marketplace".
NPL IX opens up a new avenue for all banking institutions and operators active in the structuring of multi-originator transactions for the sale of non-performing loans, also in light of the increasingly confirmed forecasts of an increase in the stock and the growing need to standardise processes, optimising the timing and efforts of the structures involved.
