BANCO BNI Europa has announced a partnership with Alterest to improve its investment analytics and risk management with its credit originating partners.

The Portuguese online bank has a number of funding deals in place with peer-to-peer lenders, including Funding Circle in Germany, Raize in Portugal, and UK business finance platform MarketInvoice.

BNI Europa said on Wednesday that the partnership with London-based loan analytics platform Alterest was initiated in October 2017, although this is the first time that it has been publicly unveiled.

Alterest aims to improve the way that capital providers and loan originators interact with each other. Its technology uses market-wide lending data combined with portfolio management, risk monitoring and reporting tools, to provide instantaneous loan-level computations, cash-flow analytics and simulations.

“Last year, we experienced a growth of 231 per cent on our investment into the credit originated by platforms,” said João Henriques, head of risk at Banco BNI Europa.

Read more: BNI Europa eyeing up further P2P lending deals

“We’re constantly searching for technology to ensure superior internal controls of risk management and regulatory compliance to keep up with our business expansion and we decided to implement Alterest to enable us to do exactly this.

“The Alterest platform allows us to configure loan-level analytics and create standardised reports for each one of the fintech platforms with whom Banco BNI Europa is investing in, presenting an attractive and simple environment to navigate through the figures.”

The bank said it already monitors close to 10 lending platforms via Alterest and saves significant resources due to the automation.

“By integrating directly with Banco BNI Europa’s credit originating partners, we have established a win-win situation for both sides of the market,” said Jeevan Param, chief executive of Alterest.

“Our loan data management, reporting and intelligence solution is beneficial not only to investors like Banco BNI Europa directly, but also to the lending platforms who can provide Alterest as a plug-and-play service to other investors thereby simplifying users’ ability to adhere to best practices of risk management and compliance.”




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