Bcc Patavina experiments with the tech platform that cuts through bureaucracy

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A technological platform “made in Veneto” to help banks and businesses speak the same language, which is gaining ground in Veneto thanks to the collaboration with Bcc Patavina. The cooperative institute, which in recent weeks is preparing for the merger with the BCC of Verona and Vicenza, has in fact tested the solution developed by Kalaway, a fintech start-up also based in Padua, together with Fabrick to facilitate, with the help of artificial intelligence, the financial management of companies and the collection of useful documentation for the relationship with the credit system.

The Kalaway project, based on the aggregation of current account data in compliance with the European directive on the Psd2 payment system, was among the first admitted to the Bank of Italy’s “regulatory sandbox” in 2022, the controlled environment in in which banks and fintechs can experiment with innovative technological solutions for a limited period of time with a view to their possible application on the market. «The experimentation is nearing completion and will end at the end of the year – explains Andrea Bologna, general director of Bcc Patavina – also because the Bank of Italy admits projects with a well-defined time frame to the sandbox. The results – he underlines – are very positive.” The new platform, the leaders of the Padua fintech recently explained, implements «a predictive model based on the cash flows that emerge from the aggregate data of current accounts also through the use of artificial intelligence. This is to provide the banking system with new indicators for evaluating the economic-financial status of companies and for the digitalisation of document collection for access to credit.” The watchword is therefore first and foremost “efficiency”: the management of the documentation that companies must make available to banks for the assessment of creditworthiness and monitoring, explains Bologna, «is very complex and involves a great deal of expenditure. of time and energy.” In this sense, the use of the platform, “where the data is loaded automatically or on the initiative of the company, with connections that allow real-time feeding”, can allow the bank to reduce the times and costs of collecting the documents even higher than 50 percent. At the same time, continues the banker, companies are provided with “analysis tools especially from a prospective perspective, in line with banking regulations for determining creditworthiness”. The Kalaway platform is therefore first and foremost a solution that aims to offer companies real-time optimization of corporate financial management, including the management of working capital, the optimization of the cost of debt and guarantees and facilitating the evaluation of solutions of investment. The next step, Bologna further notes, is the contribution it can make to “a cultural alignment between businesses and banks in mutual evaluation”, to allow the former to have realistic expectations and the latter to have a precise picture of the situation. «We are aware of the fact that the bank-business relationship must evolve, using all the tools developed by technological innovation»: far from being a departure from the principles of cooperative credit, for Bologna this is precisely «a a factor that can qualify us as a relationship bank, limiting bureaucratic and administrative complications and allowing us to focus on the relationship with customers and the local area”. Once the testing phase has been completed, from January 2024 Kalaway will launch version 3.0 of the platform and is already “working to activate new agreements with leading Italian banking groups” by concretely offering itself on the market, explained the CEO. of the Alessandro Allamprese Manes Rossi company. Bcc Patavina, for its part, is “particularly interested in the subsequent phases”, Bologna remarked, but wants to “explore some elements, in particular on the management and privacy of data, aspects on which the Supervisory Authority is very attentive”. «The project to verify the potential of the platform was very positive and we can start with business services – he comments -, while for the relationship with the bank further steps are needed which we are very interested in carrying out». Also with a view to a possible future extension to the entire Iccrea group: «We as a local bank wanted to seize an opportunity, then hopefully the path will lead to submitting everything at group level», concludes Bologna. Kalaway, founded as a consultancy and outsourcing management division of financial services for SMEs and some large groups of Adm Associati, currently manages around 100 companies and aggregate credit lines for over a billion. Of these, approximately 100 million and 20 companies actively participated in the testing on the new platform.

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