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Cardo AI supported Luzzatti Consortium in executing one of the first NPL sales in Europe compliant with the new EBA’s standards through its Hyper Data Room solution

Luzzatti, a consortium of 19 territorial cooperative banks, most of them locally significant, has recently finalized a multi originator true sale of single name secured UTPs and NPLs. This transaction is one of the first to be compliant with the European Banking Authority’s regulation entered into force on October 19th, 2023, which made the use of data templates for European non-performing loan transactions mandatory. These templates aim to establish a data standard for NPL transactions by enhancing due diligence and asset valuation, while reducing bid-ask spreads.

​​Cardo AI provided Luzzatti with its proprietary platform for ABS transactions data management, monitoring and analysis (Hyper Data Room), which enabled potential investors a detailed assessment and accurate presentation of the NPL portfolio. The Luzzatti consortium applied the new guidelines and best practices issued by EBA to improve transparency and efficiency in deal execution by facilitating interaction between sellers and buyers through automated portfolio analysis.

We are proud to have supported the Luzzatti Consortium,” said Altin Kadareja, CEO and Co-Founder of Cardo AI. “Our Hyper Data Room proved to be a crucial tool to manage complex processes and assets, ensuring the success of our client’s transaction and full regulatory compliance. At Cardo, we believe that improving the quality and comparability of NPL data is a key factor to improve market efficiency”. 

Cardo AI is specialized in the development of innovative technology solutions for structured finance markets, thanks to its deep expertise in data management and reporting. Our proprietary solutions enable fully automated management of the entire investment operations cycle, from data collection and processing (data quality and enrichment), to due diligence, reporting, management, monitoring and analysis.