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advisory

Passadore first Italian bank in pilot project digitizing and notarizing surety bonds at blockchain

The platform was was developed by Cetif Advisory , in collaboration with Nexi and Reply
17.10.2024
They say about us

Cetif Advisory, in collaboration with Nexi and Reply, announce that Italy's first platform for managing the lifecycle of surety bonds and notarizing them on Blockchain technology has been operational in the market since September 2024 and that the first surety bond has been uploaded to the application. This achievement represents a significant milestone in the industry's digitalization journey.

The operation of the first pilot bank on the Digital Sureties platform is from Banca Passadore, which as of September 12, 2024 is fully operational on the platform and has uploaded the first surety bond to the application, enabling notarization of surety bonds at Blockchain and the ability to verify their veracity from public site. This marks a major step forward for the entire industry.

The platform not only provides security and transparency but also revolutionizes its entire lifecycle management thanks to the immutability and traceability offered by the technology blockchain. Thanks to the platform, the entire life cycle of surety guarantees can be managed more easily and efficiently, significantly lowering the risk of fraud.

"Banca Passadore & C spa," reads a note, "expresses satisfaction with the launch of the innovative platform. The decision to invest in this new tool confirms the constant attention devoted to technological infrastructure for the provision of reliable and innovative banking services, with cutting-edge solutions that aim to integrate, with simple and efficient tools, the personalized relationship with the customer. The bank, a unique case in Italy for its size, manages an IT system developed entirely in-house, a situation that has certainly favored the rapid adherence to the platform."