Rome, 22nd of November 2021
Gardant, market leader in Italy in the credit management sector both as servicer and as investor, with over EUR 40 billion (GBV) under management and a primary focus on SMEs and corporates, has signed a cooperation agreement with Wiserfunding, a leading provider of credit risk assessment for lenders, with a mission to become the market standard for SME and corporate risk assessment. This initiative is part of Gardant’s continuing development of its proprietary UTP management platform.
Gardant, a pioneer in the UTP credit management field, where it is active as servicer and as investor since 2016, aims at offering a best in class product to investors and to banks, as a partner in the management of an orderly exit from the pandemic emergency, maximising at the same time reperforming scenarios for the companies involved.
Wiserfunding was founded in April 2016 by Dr. Gabriele Sabato and Dr. Edward Altman, creator of the famous Altman Z-score, with a mission to disrupt the SME credit risk space and become the market standard for SME risk assessment. The company currently serves more than 60 customers across three continents, a mix of bank and non-bank lenders, insurance firms, payment providers and asset managers.
“I am very pleased with this agreement with Wiserfunding, a partner with whom we have been talking for months. This enriches our ecosystem of credit management tools, supporting our focus on a cutting-edge and easily scalable UTP management platform,” Mirko Briozzo, CEO of Gardant, commented. “We are already an active all-round operator on UTP loans, since we manage on our systems everything from residential mortgages to medium-large corporate positions, and we want to continue to invest in order to better consolidate our positioning.”
“We are delighted to have the opportunity to work with Gardant, a pioneer in the UTP credit management field, enhancing their ability to assess companies showing early signs of distress and establishing the best course of action” said Gabriele Sabato, CEO of Wiserfunding. “In this post-pandemic era, distress rates are growing rapidly across banks in Europe and a large amount of UTPs are expected to soon come to market. Thanks to our innovative platform, Gardant will be able to process large amount of data in few seconds to generate insights that will enable the most effective strategies.”
Gardant S.p.A. is an Italian company, with registered office in Rome, the parent company of the Gardant Group, which is being set up following the reorganisation and demerger of debt servicing and debt purchasing activities from Credito Fondiario. Today the Group is one of the leaders in the credit management sector in Italy, with a unique business model: it is both Debt Servicer (DS) and Asset Manager / Debt Purchaser (DP) and operates in all asset classes related to banking and leasing receivables (performing, UTPs and NPLs).
Wiserfunding’s (www.wiserfunding.com) proprietary risk assessment platform uses AI to provide accurate, reliable and unbiased credit risk assessment to ascertain the credit quality of SMEs and private firms. Its unique methodology has
proven to be up to 30% more accurate than competitors. It makes use of financial history as well as publicly available structured and unstructured data including corporate governance, management experience and macroeconomic indicators. The suite of models is uniquely tailored to SMEs, providing geographical and sectoral segmentation to maximise prediction power.
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