Extrajudicial and ordinary foreclosures
Italian banking group
Foreclosure is a forced recovery procedure through which both the revenue agency and private creditors can request and receive protection of their credit. When the creditor’s assets are held by third parties (e.g. banks), these third parties must follow a specific procedure to declare what they are holding; in addition, they are required to look after the sums in question until the end of the process or until they receive further communications, before then paying them to the creditor or returning them to the available assets of the debtor.
Management of foreclosures with third parties (extrajudicial and ordinary) exposes the bank to considerable risks in relation to every phase of the implementation procedure.
The client, with a specific tender, was looking for a solution which would allow them to manage a large number of requests, with optimal control of the process and a significant reduction in risk. An essential component of the system was the necessary complete integration with bank systems to avoid manual entry of the required data.
- Rollout of the CST solutions: PGS and PGO, PCP, GDPR on the client’s cloud systems
- Start-up and training
- Security Audit – Solution, code, libraries
- Data integration with the bank’s core system (involved party data, C/C, balances)
- Meeting the target times and costs requested by the Client
- Full client satisfaction and feedback on simplified, fully GDPR-compliant management of the processes, with a significant reduction in the manual operations required.
Goal of the project
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