Banco BNI Europa, a leading digital bank, and Alterest, an innovative loan data and intelligence platform, publicly announced today their partnership to streamline investment analytics and risk management between the bank and its credit originating partners. Initiated in October 2017, the partnership comprised of data-feeds integration with tech-enabled lending platforms, implementation of a reconciliation process between operations and nostro accounts, and configuration of an IFRS9-compliant impairment calculation model.
A leading provider of capital to marketplace lenders in Europe, Banco BNI Europa has already established investment programs with prominent lending platforms. It has successfully utilised leading technologies to provide finance to a range of consumer and business borrowers efficiently and has become a role model for banks across the continent.
"Last year, we experienced a growth of 231 percent on our investment into the credit originated by platforms. We're constantly searching for technology to ensure superior internal controls of risk management and regulatory compliance to keep up with our business expansion and we decided to implement Alterest to enable us to do exactly this," said João Henriques, Head of Risk at Banco BNI Europa. "The Alterest platform allows us to configure loan-level analytics and create standardised reports for each one of the fintech platforms with whom Banco BNI Europa is investing in, presenting an attractive and simple environment to navigate through the figures. Today, Banco BNI Europa monitors close to ten lending platforms via Alterest, and realises significant resource-saving due to the automation enabled by Alterest. Tools like Alterest are essential for the continued development of the industry."
"Banco BNI Europa is a key player in the global alternative finance sector and one of the most important capital providers to the next generation of credit originators in Europe. They're a natural partner for Alterest," added Jeevan Param, CEO of Alterest. "By integrating directly with Banco BNI Europa's credit originating partners, we have established a win-win situation for both sides of the market. Our loan data management, reporting and intelligence solution is beneficial not only to investors like Banco BNI Europa directly, but also to the lending platforms who can provide Alterest as a plug-and-play service to other investors thereby simplifying users' ability to adhere to best practices of risk management and compliance."
About Banco BNI Europa
Banco BNI Europa is Portugal's fastest growing, purely digital bank. The Bank aims to challenge the traditional banking sector through strategic partnerships with fast-moving FinTech companies, enabling it to launch new products by employing the most advanced technology in terms of risk analysis, consumer experience and rapid market entry. This strategic orientation allows the Bank to stand out as a benchmark in the new generation of European FinTech banks and expand with significant growth rates. Learn more at https://bnieuropa.pt.
Alterest transforms the way capital providers and loan originators interact with each other. The Alterest technology combines the aggregation of market-wide granular lending data with portfolio management, risk monitoring and reporting tools, and a user-defined modelling and execution framework for instantaneous loan-level computations, cash flow analytics and simulations. To date, Alterest has integrated with loan data from over 17 lenders and has leading coverage in Europe. Learn more at www.alterest.co, follow us on LinkedIn or request a demo
Banco BNI Europa
Tel. +351 309 307 871
Tel. +44 20 8133 8169