Interview with Francesca Torino

WIBEATS' ambitious goal is to integrate highly specialized companies under a unique umbrella. Today WIBEATS sphere of intervention is a unique point of reference in the management of RE.o.CO, performing and non performing real estate portfolios in the Italian market.
Hi Francesca! Could you please introduce WIBEATS GROUP and tell us a bit more about what led to your founding the company?
WIBEATS GROUP track records can be summarized in some key data, which are: 1200 due diligence performed; 2.5 billion of gross book value of service, today serviced; 850,000 loans analyzed, and 10,000 assets evaluated. As well, we are a group of members and staff, over 50 people, located in our headquarters in Torino.
What are some of the biggest ways in which the Asset Manager and Loans Service sector is changing today?
Our experience started in 2009, when basically we were servicing just real estate management assets. The real estate management market, in the last period, had a huge and incredible change which was affected by the financial crisis. The financial crisis basically obliged the banks to, let's say analyze their internal portfolio, and to analyze it on the non-performing loans. This crisis basically is comparable to what happens now, in our days with global warming. What that means, it means that the global warming affected totally and changed the automobile industry. The same happened with the financial crisis in relation to the Real Estate industry. All of these big changes obliged the servicer to restructure themselves and to be able to have a different approach, and a multidisciplinary approach, to the market. This led us to create the WIBEATS Group, an asset management and loan servicing group, in order to give an answer to this new market.
What are some of the main reasons your clients take out secure NPLs?
Another point which can be unique for our group is the fact that we act as a partner and not as a supplier. What that really means: this means that we do not work with a contract in the strictly rules of following an outsourcing approach, but we work jointly with the clients, in order to reach the quarter performance and the quarter goals of the clients. The last point is the I.T. development, which means that we are re-engineering and we are developing, continuously, our main software and our main systems, in order to collect all the interdisciplinary data and creating a data base and a data bank which are, basically, the core of our business.
How has your work with the company changed or evolved over the past year?
The most important part of the WIBEATS Group is the I.T. department and the I.T. system. We are strongly investing in the new way of working and the new I.T. systems, which means that during our consultancy we collect the data, and all of this data that we are collecting - and we are speaking about thousands of information, of documents, of Excel sheets, of PDF - are not just collected, but they are classified, structured, in order to give the access to the client and allowing the client to easily consult off but all this information. So, let's say that at the beginning of our consultancy, we are able to provide a dashboard to the client, and this dashboard is a summarizing all the key information. So, for instance, the clients, in their quick view, is able to understand the location of the assets within the Italian regions, as well as the gross book value, the purchase price, if the assets are repossessed or not repossessed, the number of the assets - basically all the lifecycle of the portfolio. This way of working obviously allows the clients to be more and more involved during the daily working routine, because all the applications are not just summarizing, let's say the portfolio, but as well, the client is able to surf within the reports between the data sheets, between documents, between photos. So let's say that the client is really a part of our team.
What's next for your work with WIBEATS? What are some of the main projects, services and partnerships you'll be focusing on throughout the next year?
This way of working and, let's say this philosophy, which we are developing is our challenge. Our challenge is to change the NPL customer experience. Through this approach and through this way of working with the clients, it's fully transparent with all the information and the plus is that all of the system is accessible 24 hours a day, obviously seven days a week, in order to give a real-time control of our services to the client.