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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.
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Banco BPM announces its entry into the Fideiussioni Digitali platform, Italy's first ecosystem for digital management of the life cycle of surety guarantees based on technology Blockchain launched and implemented by Surety Shield, a subsidiary of Cetif Advisory, a spin-off of the Research Center of theUniversità Cattolica del Sacro Cuore This system will enable the banking institution to further increase the security and transparency of the guarantees issued, further consolidating its path of innovation.
The adoption of the Digital Sureties platform represents a significant milestone in the digitization of the sector, offering advanced tools for notarization on Blockchain, process traceability and fraud prevention. Designed starting in 2019 to respond to critical market issues, the platform went through an experimental phase between February and December 2020, involving 29 companies and leading to the implementation of an MVP based on Blockchain Corda R3.
Between 2021 and 2022, the project was further industrialized through in-depth legal, technical and functional analyses. Theintroduction of the New Procurement Code 2023 and the ANAC Circular 2024 have led to further developments, ensuring greater operational efficiency and the possibility, on the part of the client, to benefit-through the provision of these tools for verifying the veracity of the guarantee-a 10 percent discount on the guaranteed sum.
Management of the life cycle of surety guarantees takes on a strategic role in combating counterfeiting of guarantees. The Digital Surety platform gives the guarantor freedom to choose how to interact with the parties involved, completing the life cycle in both cases and making guarantor, guarantor and contractor participants regarding the status of the guarantee.
Cetif Advisory and Surety Shield express great satisfaction with Banco BPM's joining the platform. By the end of the month, the banking institution will be able to interact directly with all stakeholders involved in the surety process, ensuring an integrated, efficient, transparent and secure view of the entire life cycle of guarantees.
Banco BPM will then proceed with the integration of the entire application into its IT systems via API protocols. This is a major and strategic step, making the Group the first banking institution in Italy to adopt this type of solution. This advance is a key element in ensuring service continuity while preserving a smooth customer experience consistent with the Group's standards.
"Banco BPM has made innovation and the proposal of cutting-edge solutions a pillar of its growth strategy," says the bank's Head of Marketing and Omnichannelality, Luca Vanetti. "The adoption of this new platform is a further demonstration of our institution's desire to offer a service that is increasingly effective, secure, fast and capable of renewing market standards.
"We are delighted to welcome Banco BPM among the institutions that have chosen to adopt our Digital Surety application," says Antonio Sorrentino, CEO of Surety Shield. "The transparency and traceability of surety guarantees today represent an indispensable safeguard to prevent the risk of fraud. Thanks to our solution, we can ensure high security standards throughout the entire life cycle of sureties, while also offering significant benefits in terms of public consultation and verification."