Banco BNI Europa, a Portugal-based digital bank, has partnered with Alterest, a European loan data and intelligence platform, “to streamline investment analytics and risk management between the bank and its credit originating partners”.
The partnership includes data-feeds integration with tech-enabled lending platforms, implementation of a reconciliation process between operations and nostro accounts, and configuration of an IFRS 9-compliant impairment calculation model.
“Last year, we experienced a growth of 231% on our investment into the credit originated by platforms,” says João Henriques, head of risk at Banco BNI Europa.
“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.”
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.”
He adds: “Today, Banco BNI Europa monitors close to ten lending platforms via Alterest, and realises significant resource-saving due to the automation enabled by Alterest.
Jeevan Param, CEO of Alterest, comments that the integration is “a win-win situation for both sides of the market”.