What does Wizkey, the loss-making company on which Leasys (FCA) focuses

14 January 20213 years ago babelfish

Leasys (FCA Bank) signs a partnership with fintech WizKey to digitize the NPL sale process

Leasys, a subsidiary of FCA Bank, has signed a partnership with the fintech WizKey, to take advantage of the use of the “Define” platform as part of the process of selling its Non Performing Loan (Npl) stocks.

All the details.

THE LEASYS-WIZKEY AGREEMENT

Let's start with the agreement. Leasy, a company founded in September 2001 and wholly controlled by FCA Bank (a 50/50 joint venture between FCA Italy and Crédit Agricole Consumer Finance), has signed a partnership agreement with the company WizKey, active in offering solutions for the credit market.

The agreement provides for the use by Leasys of the "Define" platform, owned by WizKey, in the process of selling its Non Performing Loan (Npl) stocks, also managing non-performing loans, deriving from the economic crisis triggered by the pandemic in act.

WHAT LEASYS WILL DO WITH THE WIZKEY PLATFORM

Thanks to the platform, based on cloud and blockchain technologies, Leasy will be able to speed up the operations for the sale of non-performing loans and through smart contracts, the credit can be tokenized and transferred in a few clicks.

OBJECTIVE: INCREASE LIQUIDITY

The entire process of negotiation and loan assignment will be digitized, allowing the FCA Bank company to increase liquidity, thus improving balance sheet and cash flow.

WIZKEY

WizKey, based in Milan, is a company that offers innovative products and services for the credit market offered to banks and financial institutions through a proprietary end-to-end platform based on the exploitation of cloud storage technologies, AI blockchain.

The company is chaired by Roberto Ghio and led by CEO Marco Pagani.

THE PARTNERS

With a share capital of 205,256 euros, the company is 25% controlled by Marco Pagani. Roberto Ghio owns 18% of the company, while 16% is in the hands of Neosperience Spa. Eroi Neslie Srl has a 7.43% stake in WizKey, while Gm Invest has 7.31%. The remaining 25% is divided among other shareholders.

THE NUMBERS

WizKey closed 2019 with a loss of 475,713 euros, much higher than the red of 43,779 euros in 2018. The total value of production stood at 150,006 euros, a net increase compared to only 2 euros in 2018, while the costs were equal to 625.005 euros.

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/cosa-faranno-leasy-e-wizkey-cessione-dei-crediti/ on Thu, 14 Jan 2021 10:21:12 +0000.