Piraeus Initiates Partnership With Qualco for the Development of a Digital Solutions Platform for Mortgage Loans

ATHENS, Greece--(BUSINESS WIRE)-- Piraeus Financial Holdings (ATHEX: TPEIR) (OTCQX:BPIRY) (OTCQX: BPIRF) announces that its subsidiary, Piraeus Bank S.A. (hereinafter the “Bank”) has entered into a Shareholders’ Agreement (“SHA”) with the technological provider, Qualco S.A. (“Qualco”) to establish an operational digitalization solutions platform initially focused on mortgage loans (the “Platform”). The Platform will be developed and operated through a newly formed company, controlled by the Bank (51%), while Qualco retains a minority stake (49%).

This strategic initiative aims to differentiate Piraeus’ positioning by offering an end-to-end digital lending journey, accelerating time to cash, and optimizing loan disbursement processes. The Gen AI-powered Platform will enhance the mortgage lending experience by streamlining end to end the loan process, from application to disbursement, through advanced digital tools and technology- driven processes. Τhe Platform is envisaged to integrate in the future with real estate selling platforms and other digital tools, broadening the Bank’s market reach.

Τhe Platform will serve both as a processor of loans originated by the Bank, as well as a source of new loan opportunities for the Bank. Qualco holds a direct vested interest in the Platform’s ongoing development, maintenance and product evolution to ensure optimal performance and profitability.

Qualco, a leading technology company offering a wide range of analytics-driven fintech solutions with extended AI expertise and digital transformation experience, has been selected as the preferred partner for the development and deployment of the proposed solution as well as the long run support of the endeavor.

KLC Law Firm acted as the external legal advisors for the Bank in connection with the transaction.

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PressOffice@piraeusbank.gr

Source: Piraeus Financial Holdings