doValue group invests 45 million euros in technology and digitalisation to strengthen customer service
doValue group invests 45 million euros in technology and digitalisation to strengthen customer service

doValue group invests 45 million euros in technology and digitalisation to strengthen customer service

25 May 2023
  • The group, present in five countries (Italy, Greece, Portugal and Cyprus, in addition to Spain) and more than €120 billion of assets under management, is earmarking part of this investment for Spain, on the basis of its transformation plan launched in 2022.
  • As part of the ongoing investment plan, doValue in Spain already enhanced and interconnected its platforms for credit management (MyRecovery), asset transformation and management (MyProperty) and real-estate marketing (MyAltamira), making it the first servicer to technologically cover the entire life cycle of its assets under management.
  • The company is moving forward in its specialisation following the rebranding announced in February, which positioned it as The First Servicer of New Generation in Spain, offering specialised services to its clients, both in the financial and real-estate fields.

The doValue group is implementing a €45 million investment plan for 2022–24 to strengthen its technological platforms and to drive the transformation of the company to meet the new needs of its clients, banks and investment funds. Spain is a key participant among the countries included in the projected investment of doValue, along with the other four countries that group is present at (Italy, Greece, Portugal and Cyprus) and more than €120 billion of assets under management.

With the announced investment, doValue in Spain reinforces its commitment to the advanced use of technology and data with a new digital platform that is unique in the market and allows its clients to continuously monitor their assets throughout their life cycles. The investment bolsters the group's traceability and productivity, demonstrates the importance of Spain for doValue and is part of its transformation plan announced in 2022. The strategic plan clearly reflects the company’s commitment to its transformation and has a central objective: to extract more value from the managed assets for the benefit of clients.

Technological investment is precisely one of the drivers of this ambitious transformation of the company. This new development reinforces doValue’s leading position in digitalisation within the servicing sector and allows it to offer better service to its clients, to whom it provides detailed information on assets at all times (from receipt of the credit to marketing of the REO), with details of the entire history of the asset and analytics to optimise its management.

The differential value of interconnecting doValue's platforms represents a transformation of the servicers' technology landscape, which in turn implies a cultural change in the company in terms of digitalisation and innovation, based on the advanced use of data and specific platforms for managing credit, real estate and marketing, all under a common ecosystem that interconnects the three technology platforms with which it operates:

  • MyRecovery: a tool that increases credit recovery ratios, with an easy and fast way to integrate with client's systems and of processing of over 25,000 credit-recovery documents. It is customised on the basis of three key principles: flexibility, scalability and efficiency.
  • MyProperty: an end-to-end platform for asset management, linked to the properties under management in transformation and rental or for their subsequent marketing through a single system. It provides 360-degree vision to monitor the asset at each of its stages. The platform already manages over 20,000 real estate assets, it resolves around 14,000 incidents per year and it provides over 12,000 individual maintenance plans per year.
  • MyAltamira: a platform focused on the commercialization of real-estate assets which significantly streamlines the bureaucratic procedures for formalising real-estate transactions. Currently the platform is used by a network of over 815 internal and external APIs for over 43,000 assets.

Technology, a strategic focus for doValue

The advanced usage of data and artificial intelligence (AI), the introduction of new tools such as self-service portals and the continuous strengthening of the security capabilities are among doValue's strategic axes. In this way, the group intends to reduce complexity, offer its clients (banks and investment funds) more efficient and therefore more productive and competitive management of their credit and mortgage portfolios and their real-estate assets.

doValue is investing heavily in technology because it has an industrial and long-term vision to maintain its leading role in the European servicer sector. It is a group listed on the Milan stock exchange (Euronext), it is independent and it has over 120 billion assets under management.

In Spain, doValue undertook an ambitious rebranding in February of this year to reinforce its position as the top-ranked new-generation servicer in Spain, with specialised services for its clients, both in the financial and real-estate sectors, leading the evolution of the sector through specialisation, digitalisation and innovation. This process has reinforced the group's strength in real estate, with three solid and specialised brands focussed on this sector.

Following the rebranding, doValue has become the group's corporate brand in Spain and also the brand for the business of corporate- and mortgage-loan management for individuals.

Altamira is now focused on the real-estate servicing business, a move intended to strengthen the firm's solid positioning in the real-estate sector, which sets it apart from the competition and allows it to focus on a value proposition that meets the needs of each client. doValue's real-estate servicer in Spain currently has a portfolio of 43,000 real-estate assets and the capacity to more than double this portfolio under management.

The new brand architecture also includes Ádsolum, a company spin off from Altamira in December 2021, which offers a value proposition for real-estate management and end-to-end development of third-party property development, with a focus on build to rent (BTR), built to sell (BTS) and alternatives. Completing this architecture is Singularity, the group's new-build marketing brand.

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