New Bank-Fintech alliance: Banca Valsabbina chooses modefinance

Fintech 30 September 2021

Banca Valsabbina and modefinance, the Fintech rating agency specialized in the credit risk assessment for SMEs and corporates, signed a collaboration agreement aimed at making some banks' internal credit processes more efficient and optimized, with a particular focus on the pre-assessment of companies.

The bank – born and well-established in the Brescia area – already showed a vivid interest in Fintech in the recent months, having perfected several agreements with Fintech companies, and as part of its continuous innovation strategy, with the aim of digitization and procedures' automation. In particular, a strategic partnership has been signed with modefinance for the adoption of tigran the "Rating-as-a-service" solution developed on the specific needs of the banking world, able to integrate the functions of a rating agency in a modular and flexible platform, to automate the credit risk assessment process and making the related monitoring activities more efficient.

The solution, customized by the bank itself, will make it possible to carry out a digital pre-assessment of a business creditworthiness, reducing operators' analysis times and making internal credit processes more efficient, with a general consequent optimization of the entire business development.

"The collaboration with modefinance started because we believe in partnerships between traditional operators and Fintech, in the context of a positive and healthy mutual contamination. We have launched a transversal project, reviewing some internal processes with the aim of making credit analysis more efficient and therefore mitigating the traditional risks of the Bank, using however advanced technologies, issued by a leading company in its segment ", said Hermes Bianchetti, Head of Business Division of Banca Valsabbina.

"With this project we are starting to revisit some phases of the credit risk management processes, while at the same time trying to develop the business in the best possible way. Innovating and reviewing certain processes is challenging and will not be immediate, but we see various opportunities in Fintech and we must continue to seize them, to make our Bank more and more efficient and modern", added Enrico Cremonesi, Deputy Head of the same Division.

"The digitization and automation of processes today represent a competitive factor for banks on the market. This new collaboration confirms the validity of our solutions as a tool to make processes more efficient. credit assessment internals and as tigran, easily integrated and adaptable to the needs of the specific realities that adopt it, is a valid ally for traditional banking actors and beyond. An Explainable AI approach allows the platform to respond quickly and consistently to the evolution of market. Subjects with a strong territorial imprint, and a considerable openness to innovation, such as Banca Valsabbina, confirm the validity of our solutions as well as the enormous possibilities, in terms of automation and process digitization, that Fintech brings as a dowry", said Mattia Ciprian, co-founder and CEO at modefinance.