Finanza.tech wins award at IBS Intelligence Global NeoChallenger Bank Awards 2022

By Leandra Monteiro

Finanza.tech S.p.A. Società Benefit – FinTech company listed on Euronext Growth Milan participated in the IBS Intelligence Global NeoChallenger Bank Awards 2022 and won the award “Best Overall Project implementation in Europe for its solution with UBAE Bank”.

The second edition of the IBSi Global NeoChallenger Bank Awards 2022, evaluating more than 100 projects from over 30 countries, identified and rewarded technology players and banks for their excellence in driving impact through the implementation of new banking technologies and innovation through the use of emerging technologies.

The project presented – the Tax credits Dashboard – was born from the collaboration agreement signed at the beginning of the year by Finanza.tech with Solutions Capital Management SIM S.p.A. and Bank UBAE S.p.A. aimed at the purchase of tax credits deriving from construction work (so called “Superbonus 110%”) for the total amount of Euro 20 million.

Finanza.tech, within the tax credit purchase project, manages, thanks to its proprietary digital platform, the scouting activities, and the technical-IT support. To facilitate collaboration and the sale of tax credits, Finanza.tech has developed a dashboard through which it is possible to evaluate in real-time the credits of the various parties involved in the sale – already validated through rigorous due diligence – and at the same time to have insight into their valuation and sales price. Thanks to the acquired information, the dashboard is able to estimate the optimal amount of credits that the buyer should purchase in order to manage the tax burden, year by year.

Within the dashboard, UBAE bank can check the status of current projects in real time, access documents shared by the customer, accept and then digitally sign the paperwork.

The digital solution has been presented to IBS Intelligence as a high-tech innovation, able to contribute on three fronts in the management of credit sales: ensuring a seamless experience for customers and UBAE bank, ensuring an accurate and digitally usable due diligence process and perspective scalability, allowing to provide multiple financial services in the same way.

Nikhil Gokhale, Head of Research at IBS intelligence said, “Finanza.tech’s platform ecosystem provided UBAE Bank a smooth implementation journey for the tax-claim purchase activity, helping the bank streamline its investment process. Finanza.tech’s solution employs a workflow that is integrated into a single platform, which allowed UBAE to manage the entire process through a single Tax Credit Dashboard application”

Finanza.tech decided to participate in the competition because it firmly believes in collaboration between companies and in its simplification through digital tools.

Nicola Occhinegro, CEO and Founder of Finanza.tech said, “I am very happy to have been able to collaborate with UBAE bank on such an important project as the transfer of tax credits, at a time when companies are in great need of liquidity. We are proud to have created an innovative digital solution aimed at simplifying the exchanges between us, our customers and UBAE bank and to have contributed, consequently, to the speeding up of the purchase and settlement of our customers’ tax credits. Simplicity and timeliness are the watchwords of our business approach and we are happy that IBS Intelligence has recognized them in the solution presented and wanted to reward us for this.”

The award marks an important milestone in the digital development process of Finanza.tech, which continues to establish itself as a highly innovative player in the Italian fintech scene.