Piraeus Bank has entered into a shareholders agreement with technology provider Qualco, for the development of a digital solutions platform, initially focusing on the mortgage sector.
The platform will be developed and operated through a newly established company, which will be controlled by the Bank (51%) with Qualco maintaining a minority stake (49%).
Digital journey
This strategic initiative aims to differentiate Piraeus Bank by offering a complete digital journey to its mortgage customers, accelerating the disbursement time and streamlining the relevant processes.
Leveraging the use of artificial intelligence, the platform will improve the mortgage financing experience by simplifying the steps from application to disbursement, through automated and digitally supported processes.
In the future, the platform will be interconnected with real estate platforms, as well as other digital tools, expanding the bank’s reach in the market.
The platform will cover both the processing of loans granted by the bank and the exploration of financing opportunities on behalf of the bank. Qualco is committed to the continuous development, maintenance and evolution of the product, in order to ensure the optimal performance and profitability of the Platform.
Qualco, a leading technology company providing a wide range of fintech solutions, with extensive experience in artificial intelligence and digital transformation, has been selected as the preferred partner for the development and implementation of the proposed solution, as well as for the long-term support of the project.
As noted in the relevant announcement, the law firm KLC acted as external legal advisor to Piraeus in the context of the said transaction.
