Credi Famiglia and NPL Area
This is the Banca IFIS Group’s business area dedicated to non-recourse factoring of distressed retail loans. This business unit was born following Banca IFIS's acquisition in May 2011 of Toscana Finanza, which was subsequently merged into the company and turned into a division. Since then, a constantly evolving vision has been driving the area's development and the addition of new professional skills.
It is based in Florence and has people operating throughout Italy. It stands out for its ability to assess, acquire and manage important portfolios and to establish a remarkable database containing detailed information about over seven hundred thousand debtors.
Purchases from consumer lenders and banks focus on unsecured distressed retail loans due from individuals.
The business unit's highlights for the year just ended were:
- the acquisition of sizeable portfolios of unsecured retail loans on both the primary (i.e. directly from sellers) and secondary markets (i.e. from other buyers),
- the acquisition of stock portfolios (stocks of loans with different ages sold in bulk) as well as forward flow portfolios (with receivables sold monthly),
- the sale of performing settlement plans concerning debtors who were originally “non-paying” and then started paying with the help of Banca IFIS's NPL Area.
Today, the NPL area is one of Italy's leading debt buyers, mainly thanks to its superior operational expertise: it integrates different accounts receivable management methods with a unique ability to obtain more information and an unwavering drive to identify the payment solutions most suited to the specific type of debtors.
Its business model is based on the ability to purchase and manage distressed loans, increasing their value by focusing on the link between the bank and the debtor to safeguard the relation as well as the reputation of sellers.
Banca IFIS's NPL Area increasingly creates value for the Bank: over the last three years, net banking income saw steady double-digit growth.
A new brand, CrediFamiglia, was launched at the end of the first half of 2013. It represents an ethical and sustainable entity based on the principles of dialogue, transparency, and knowledge; a true community, which also operates through the internet; and a network of professional agents who, thanks to their extensive experience in the credit industry, can assist, provide advice, and listen to those who have a debt that they wish to honour and resolve.
Finally, in 2014, the Bank stepped up court-ordered debt collection efforts concerning debtors with the ability to pay their debts but that are not actually willing to do so.
Furthermore, during the year it set up a call centre to manage existing settlement plans and create new ones.