Banca Valsabbina acquires a 9.1% stake in Surety Schield as part of a round worth a total of €2.25 million involving other investors.
The fintech startup develops a solution for digital management of surety bonds and insurance deposits. The Fideiussioni Digitali platform, developed by Cetif Advisory, a spin-off of Cetif, the research centre of the Catholic University of the Sacred Heart, and transferred to Surety Shield, is an innovative solution based on blockchain technology. which allows you to manage the entire life cycle of bank guarantees and insurance bonds. Today, Cetif Advisory is the majority shareholder of Surety Shield and actively contributes to the development of the ecosystem. The tool can be used by all parties involved in the guarantee process: banks, insurance companies, authorised financial institutions, public administration, contracting authorities and contractors.
The aim of the project is to respond to the sector’s strong need for digitalisation, improve the transparency and security of guarantees issued by banks and insurance companies, reducing the risk of fraud and simplifying the operational processes of the various parties involved.
The transaction is part of Banca Valsabbina’s activities aimed at supporting high-tech projects that promote innovation in financial services, with a view to making the most of efficient digital processes while mitigating risks and problems.
“This operation is part of our strategy to support innovation in financial services and our desire to contribute to the development of high value-added digital solutions,” said Hermes Bianchetti, deputy general manager of Banca Valsabbina, in a statement (pictured) in a statement. “The Digital Guarantees platform represents an important step forward for the sector because it responds to concrete needs for transparency, efficiency and security, particularly in relations between businesses, banks and public administration. As a credit institution that has always been close to the productive fabric, we believe in the value of these initiatives and want to be an active part of an ecosystem that is evolving thanks to technology and collaboration between complementary players. The acquisition of a stake in Surety Shield crowns a particularly active two months for the Bank, which is further consolidating its strategic position through targeted and diversified investments.
“This initiative is a great example of how the university system and the financial and insurance system, working with regulators and public administration, have managed to bring together ideas and projects that have led to this unique platform,” says Federico Rajola, full professor of Business Organisation and director of CETIF, the research centre at the Catholic University, as well as president of CETIF Advisory. . “It is precisely through university spin-offs that we have been able to take an important step towards an ecosystemic convergence of digitalisation. This involves the use of advanced technologies that help reduce high levels of fraud and improve and streamline processes and operational efficiency. We are grateful to Banca Valsabbina, which over the years has proven itself capable of identifying innovative initiatives, and to the other industrial investors who have recognised the quality of the work done so far. This capital increase not only lays the foundations for continued investment in the evolution of functionality and the integration of advanced AI tools, but also accelerates the pace of adoption and dissemination.
“We are particularly excited about this extraordinary transaction,” adds Antonio Sorrentino, CEO and co-founder of Surety Shield, “as it represents a strategic opportunity to accelerate our organic growth and allows us to be supported by a major institutional investor such as Banca Valsabbina. A few months after the new legislation came into force, introducing the obligation to verify guarantees in public procurement contracts using blockchain technology, our platform has already handled a significant number of transactions. Numerous banks, insurance companies and contracting authorities are already actively using the platform, confirming the relevance of the solution and helping to consolidate our leadership position in the sector at national level.”
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