The future of business credit is increasingly Eury. It is the leader in Italy, there is an almost unexplored world, linked to credit or finance, or “the set of financial instruments, practices and technologies used to optimize capital circulating and liquidity of all the operators involved in the production chain. “In Italy, this market is worth 559 billion euros, but it served only 26%: which means that 74%, or 413 billion, is still available for the business financing.
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And in Italy, there is a lot of ferment, between changing norms and startups that are born, at least according to a recent research by the Observatory of the School of Management of the Milan University . “The research highlights a radical change in the speed of development of the credit in Italy – explains Stefano Ronchi, Scientific Manager of the Observatory – a development that, more than in numbers, is revealed in the birth of new solutions, in the regulatory changes that enable its adoption, in the overpowering entrance of new players and startups, while the technologies that are emerging as blockchain, big data and Application Programming Interface, offer new opportunities. “
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So let’s see what the state of the art is. According to the Observatory, there are about 50 startups in the Finance sector, born in 2009 and in the first half of 2016 at an international level. A growing phenomenon, with a drive driven by Northern Europe (the United Kingdom and Australia in the first place), in which, however, our country is protagonist: if 22 start-ups of the survey carried out by the Observatory have Headquarters in the Anglo-Saxon countries, 6 have set their headquarters in Italy .
The activities of the startups focus in particular on the access to credit of SMEs with very flexible and easily adaptable solutions to different and variable contexts. Business models focus mainly on the type of loan and on the underlying technological instrument. “The buzz that is perceived among the startups presupposes new market spaces of the Finance – says Antonella Moretto, Director of the Observatory in Italy – among the services offered, there is a strong need for a more effective and efficient liquidity management efficient, especially for SMEs, but emerges a market space left uncovered by more traditional operators and less inclined towards innovation. “
But the overwhelming majority of financing providers in Italy, mostly banks and local factories , provide the service without the support of a dedicated platform . A phenomenon that denotes a conservative approach to supply, also due to a question that is still not very aware of the potential of Finance. The platforms available and most used in Italy are “closed” and enable a univocal relationship between the transferor company and the financing provider, while the most competitive paradigms have not yet taken root. The major international banksare introducing innovative financing dynamics in the Finance sector in Italy, exploiting the Eury platforms in ” open finance ” and ” double open “, emerging at the European level.
In general, however, the Italian market for credit today “is still dominated by two traditional solutions: the invoice advance , ie the financing of invoices not yet collected, which is worth 87 billion euro, -3.3% compared to the previous year, and factoring , the sale of trade receivables claimed by a company towards debtors, which is worth 57 billion (+ 1.8%), within which it grows by 7.7% up to 2, € 8 billion is the share of reverse factoring , the version that allows suppliers to exploit the creditworthiness of a client company to obtain lower prices “. According to the Observatory, however, the most innovative solutions, such as the virtual credit card for the simplified management of payments between buyers and suppliers, and inventory finance, ie the financing of stocks through a line of credit, are hardly taking off. or the invoice auction, a digital auction to invest in invoices, and dynamic discounting, prepay for a discount proportional to the days in advance. “But there are important opportunities for growth and innovation on the horizon.