UNIREC and Debitos signed a strategic partnership for the usage of the European leading marketplace for trading of NPLs
Unirec and Debitos: In 2021 the volume of portfolio disposals in the secondary market could reach €40 Bn and it will represent 30% of all NPL operations.
Rome-Milan, 11th of February 2021 – Unirec, Unione nazionale imprese a tutela del credito – is the Association of Confindustria SIT that brings together 80% of the companies and enterprises that offer credit management services together with Debitos – the German fintech operating in the secondary market – have signed an agreement aimed at presenting a marketplace of non-performing loans to companies in the sector.
Debitos started its business on the secondary market of credits in 2012 and today is recognized as the first European marketplace for NPLs with more than 600.000 loans successfully transacted in 16 different European countries. The number of investors registered in the platform is already more than 1.000 with a capital of €21 billion.
In fact, in 2020, according to the latest available data, the secondary market of non-performing loans has undergone a strong acceleration in the 4th quarter 2020. The estimate for 2021 is up to 40 Bn€. The Secondary market is expected to provide almost 30% of NPL transaction, confirming the maturity of this market.
Transactions in the Italy NPL market in 2020 records €38 Bn of NPL sales and €9 Bn of UTP transactions (source: NPL Market Watch January 2021). In 2021 the volume of disposals could reach €40 Bn for NPL portfolios and of €12 Bn for UtP transactions. In 2022 disposals will maintain a similar level.
Moreover, Unirec has highlighted that in the five years 2015-2019 the number of funds entrusted and managed by its member companies has almost doubled (+80%). This trend signals the peculiar economic situation of the country. More in detail, in 2019 the total positions managed by members amounted to approximately 132 billion euros, including for most unsecured loans with the aging of more than 3 years. In particular, 81% of these loans referred to credits originated from the banking or financial sector (e.g. loans and mortgages), about 11% to the utility and telco sector (bills), and only 2.5% to trade receivables (installment purchases).
This important partnership highlights the commitment of Unirec for the rapidly evolving dynamics of the sector and for the interest of all operators in the sector, not only those of large companies, in the purchase and sale of receivables on the secondary market.
Debitos will be presented to all Unirec member companies, that provide multiple services (including commercial information, collection and purchase of credits), and that may decide to use the platform as a Seller, Buyer or Arranger of transactions.
Michela de Marchi, General Secretary of Unirec commentated: “Innovation is one of the core businesses on which we focus through our members. We are aware that the competitiveness and efficiency of the segment are based primarily on the ability to look into the future and into the new technological solutions in the field. The agreement signed with Debitos signals our continuous commitment to the digitalization of the system.”
Timur Peters, CEO & Founder of Debitos stated: “We are happy that UNIREC recognizes the development of the secondary market and is actively supporting new technologies in this field. UNIREC, that is also part of the European network of FENCA, acts open-minded with an eye for the internationalization of this industry. We look forward to this cooperation and further exchange with UNIREC-members.”
UNIREC – National Union of Credit Protection Enterprises (Unione Nazionale Imprese a Tutela del Credito) is the Confindustria Innovative and Technological Services Association that represents companies and firms that offer credit management services. The association was founded in 1998 and today it brings together about 200 companies in the sector for a total of almost 17 thousand professionals, representing 80% of the Italian credit management market. The President of UNIREC for the three years 2018-2021 is Francesco Vovk.
UNIREC is a member of FENCA, the European Federation of National Associations in the sector, and a founding member of the UNIREC-Consumers Forum, a structured and permanent working group that has drawn up the only code of conduct recognized at the European level and which aims to promote co-regulation, consumer protection and the professionalism of those working in the field. In addition to UNIREC member companies, the UNIREC-Consumer Forum includes 8 Consumer Associations: Adiconsum, Adoc, Asso-Consum, Cittadinanzattiva, Federconsumatori, Movimento Consumatori, Movimento Difesa del Cittadino, and Unione NazionaleConsumator. The President of the Forum is Marcello Grimaldi, who also sits on the Board of Directors of UNIREC.
Debitos: Debitos is the leading secondary debt market which enables companies, banks and funds to sell their credit exposures on the market through its open and transparent auction-based online transaction platform. The platform leverages on the digitalization of the entire sale process and can reduce the expected disposal timing to 3-8 weeks compared to 3-6 months of the traditional process. Debitos was founded in Frankfurt in 2010 and has since successfully transacted more than 600,000 loans in 16 countries. By now more than 1000 investors from all over Europe have registered with Debitos.
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