Category: News

Patents in Fintech: Tigran obtains the recognition of uniqueness

Finally, it's official: the Tigran platform is patented.

When the idea to develop a software out of the Rating Agency's proprietary methodologies was in its infancy, we knew that the road would have been tortuous. But we firmly believed in it, being aware of the project's validity and bold in the technologies we were developing.

The patent - issued by the Italian Patent and Trademark Office (UIBM), headed by the Italian Ministry of Economic Development - recognizes the uniqueness of the technologies, models and solution itself, developed entirely by the modefinance engineering team.

modefinance is among the very few companies in the world to have obtained a patent on proprietary technologies. If the licence system is fundamental for innovation in the industrial world, it is not so common for softwares. That's a minority, which is close to 23% in the US - mostly property of big techs (Google, IBM, Alibaba, Amazon, Tencent) and Bank of America - while in Italy it hardly reaches 14%.

That little solution, which was at an embryo stage between 2017 and 2018, was born from the minds of three engineers and a physicist, Mattia Ciprian, Valentino Pediroda, Andrea Sorrentino e Simone Ziraldo, and since 2019 is a flame capable of forging ahead, and land to conquer the banking and financial institutions market.

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Tigran - as the solution which embodies the internally-conceived concept of "Rating-as-a-service" - integrates all those functions for the counterparty risk's process automation assessment and/or the portfolio management, and allows faster analyses and quicker credit requests' resolution, as well as computational resources' saving.

The patented technology, although mainly developed for the financial world, is also integrated in the Check Up Impresa solution, a platform created jointly by modefinance and its group leader TeamSystem, and dedicated to the business world, allowing a constant monitoring of the companies' health and its production cycle, in order to prevent any crisis situation.

Distinguishing features

The patent specifically refers to:

  • time saving (a rapid adoption, faster analyses and resolution of credit requests);
  • computational resources saving (from analog and manual processes, factual errors, and loss of data and information, to an entirely digital platform-based procedure);
  • distinctive modularity and flexibility (which allow the solution to be highly adaptive, both for banks and corporate firms);
  • an extensive set of models, internally developed (which prove a concrete added value for the companies adopting Tigran, and integrating it in their internal risk management processes).

An unicum on the market, not only in Italy: modefinance thus has an exclusive right to develop and distribute both the Tigran application and the concept underlying the platform, which can't be replicated. The patent is already active (with retroactive value) in Italy, while the process for its recognition abroad is at an advanced stage.

Achieving such an ambitious goal allows us to strengthen our positioning at an international level, as a cutting-edge technology company in the automation of credit risk management processes, and to reveal how the daily research-and-development efforts became an advanced solution able to concretely respond to market needs, as an excellence of the Fintech ecosystem.

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The co-founders commented:

"We were born as a spin-off of the University of Trieste, we faced the challenges of a startup incubated in Area Science Park, the largest techno-scientific research center in Italy and now we are part of a large group like TeamSystem: our team shows the real value of the collaboration between the business world and academia. The patent is not just a success of ours, but it is owned by all the people who believed in the project, witnessing the excellence of modefinance as part of a lively, extremely talented and ever-expanding ecosystem".


"Modefinance was born in 2009 from the intuition that the market needed to assess the creditworthiness of all companies more quickly and efficiently and that this was possible thanks to digital technology. We reached our first major milestone in 2015 with the authorization to operate as the first "Fintech" rating agency, a recognition that confirmed the validity of our proposal. Today this patent certifies our uniqueness: we are proud of it because patenting a software should not be taken for granted, and the process that followed testifies to Tigran's value. modefinance continues to grow, and more and more companies in the banking world turn to us to make their credit assessment and management processes more efficient. The market still has great potential and we are ready to seize them by continuing to develop increasingly effective and flexible solutions".


Among a variety of testimonials, the words of Enrico Causero, General Manager Micro & Digital Finance Solutions of TeamSystem:
“We are particularly proud of the result achieved by modefinance team. In 2021 we decided to acquire the company because we believed it to be an excellence of Italian Fintech. Their solutions are unique, demonstrating a great potential within an innovative, structured and widespread group in the area such as TeamSystem. In fact, modefinance, together with TeamSystem Financial Value Chain and TeamSystem Payments, is part of our new business unit dedicated to Fintech solutions which, in 2021, will see its revenues double compared to the previous year."

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