Prelios Innovation has announced the launch of BlinkS Network Partners – Europe's first ecosystem for non-performing exposures (NPEs) – integrated with the BlinkS platform, the marketplace for distressed loans developed by the Prelios Group.
BlinkS Network Partners will be able to offer their products and services directly on the platform, including AVM and traditional real estate valuations, data remediation, senior financing, servicing, digital signature. This will broaden the possible matches between supply and demand to cover ancillary credit transfer services, making credit analysis and transfer processes and portfolio management even more fluid, so fueling the development of the primary and secondary NPE market.
“Once again, and only a year after it began operations, BlinkS is innovating the NPE market,” said Gabriella Breno, CEO of Prelios Innovation, the Prelios Group Fintech company. “In just a few months, not only have we have achieved impressive results and had the satisfaction of seeing that our initiatives lead the way for other platforms, we have also brought almost all the buyers and sellers operating on the NPE market in Italy into contact with one another on BlinkS.” The BlinkS Network Partners formula, Breno explained, “creates an ecosystem of great general interest, which acquires fundamental importance when the on-going pandemic, with all the difficulties created for movement and contact, means that new forms of collaboration between suppliers and clients are vital. Large numbers of our sellers and buyers on BlinkS, as well as many primary companies, have applied to join the network linked to the platform.”
“The creation of an ecosystem for the NPE sector is an important step toward activating cross-contamination of ideas and skills, which is the foundation for the development of new products and services, even of new business models,” said Mauro Cavagna, the Prelios Group Chief Technology and Processes Officer. “The BlinkS Network Partners are an additional resource to Prelios’ own innovation capabilities, and so provide a perfect example, in the area of distressed loan management, of the open innovation model that is part of the Prelios DNA.”
2021 has got off to an excellent start for the BlinkS marketplace, which to date has published loan portfolios for an overall GBV of more than 180 million euro. Furthermore, portfolios with a GBV of more than 100 million euro are being put together and will be published on BlinkS in the next few weeks. The significant expansion in the buyer and seller base has also been assisted by the strategic partnership with UNIREC. Many associated companies have already completed their initial transactions within weeks of signing the agreement with BlinkS.
Meanwhile, the frequent meetings between Prelios Innovation and the EBA, the ECB, the European Commission and the Bank of Italy reflect the constant interest of regulators in the Prelios Group's activities as regards the development of NPL platforms – whose positive impact is now widely recognized among leading rating agencies – and the growth of the whole Italian and European NPE market.