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More than 30,000 professionals make up the ecosystem of Cetif: we facilitate the meeting and exchange between banks, insurers and companies in an academic Center, competent and independent environment to share knowledge, experience and strategies on the most innovative drivers of change.
16 Research Hubs focused on dynamics of strategic evolution, regulatory updates, organizational and process practices, and the effects of digitization: we study innovation trends and best practices and share them with our communities.
Over 60 events including Main events (Workshop and Summit) and Community events (related to research activities) and Webinar: we bring together banks, insurance companies and businesses for shared growth on trends and challenges to outline innovative development strategies.
More than 40 Executive Education tracks, 4 Master's programs and numerous Company Specific Programs: we transfer innovative financial-oriented content with a scientific approach.
An experimental spin off combining academic research and entrepreneurial approach: we turn innovation and digitization into a concrete business advantage.
Launching in the second half of 2021, the first system platform to digitize surety bonds in banking and insurance through DLT technology.
More than 50 operators participated in the trial, more than 350 contracts were managed in four months with guaranteed amounts between 10 thousand euros and 1.4 million euros and an average amount of 275 thousand euros
Milan, May 10, 2021 - The pilot phase of "Digital Sureties," the project promoted by. CeTIF, SIA and Reply and in which Bank of Italy, Ivass and Guardia di Finanza also participated
to digitize the surety bond management process at blockchain .
In fact, more than 50 operators - including guarantors, guarantors and policyholders -from the banking, insurance and financial, PA and corporate sectors have joined the experimentation carried out within a "Sandbox" under the supervision of a Scientific Committee composed of representatives of Authorities, public and private entities.
During the pilot phase, which lasted about 4 months, more than 350 surety bonds with guaranteed sums ranging from 10 thousand euros to 1.4 million euros and an average amount of 275 thousand euros were digitally managed.
According to data provided by participants, the use of blockchain and DLT technology can lead to a reduction in fraud by about 30 percent and in operating costs by 10 percent to more than 50 percent, depending on the number of
transactions transacted.
Additional benefits that have emerged from the experimentation include:
- the reduction in costs resulting from the dematerialization of documents
- the increase in transparency and information certainty throughout the surety bond management process, linked to increased information sharing
- the increased efficiency in the management of the release of the surety bond and the consequent availability in a reduced timeframe of credit lines to be used for participation in new tenders.
Based on theeffectiveness of the trial and the positive evaluations of the participants-representing the main players in surety bond management in Italy-further technological, functional and regulatory refinement activities have been initiated with the aim of making the platform fully operational and available on the market in the second half of 2021.