Turin, 13 January 2021

Leasys continues to pursue digital innovation. FCA Bank’s subsidiary, mobility leader in Italy and one of the main mobility players in Europe, entered into a partnership with WizKey, a fintech company engaged in the provision of solutions for the credit market, for the use of the “Define” platform in connection with the process to sell its stock of Non Performing Receivables (NPRs).  

The partnership will pave the way for new advanced solutions for the NPR market and will improve the management of the next wave of non performing receivables, mounting from the crisis triggered by the pandemics.

Thanks to the “Define” platform, which harnesses the potential of the blockchain, Leasys will be able to use a leading edge technology to expedite its sales of non performing receivables, through an efficient and secure market infrastructure. In fact, a smart contract system will enable the tokenization of receivables and their easy transfer in a few clicks.

The platform makes it possible to digitalize the entire process for the negotiation and sale of receivables (also in connection with securitization transactions), thus boosting the standardization of processes necessary to foster the creation of a transparent, liquid and efficient secondary credit market.

The partnership with Leasys makes us proud of the work that we have been doing for months now. It is a key starting point to promote an initiative that will change completely the credit market. The financial crisis of 2008 showed us how the inefficient management of non performing assets puts the country’s economic system under stress and might cause serious systemic risks. It is increasingly clear the need for advanced technological tools to deal with the next wave of NPLs rising from the current recession, which will materialize with even greater strength in the next few years”, said Marco PaganiCEO and founder di WizKey.

The COVID-19 emergency is a challenge for us and the business world as a whole is under pressure. In such an unprecedented situation, Leasys has shown once again a great innovative spirit with this strategic partnership, which will place it, also in this case, a step ahead. The initiatives undertaken in connection with the digitalization of credit management allowed us to limit the economic impact of the pandemic and will thrust the business forward in 2021”, said  Dario Petrellinew Credit Director of Leasys.