(Tiper Stock Exchange) – SACE wins the Call for Proposals 2022an initiative promoted by Milan Hub from the Bank of Italywith the Eureka (EURopean Export blocK-chain Aggregator) project conceived within the Innovation Lab of the SACE Group, a real innovation hub, a multifunctional and transversal working group coordinated by the Customer Centricty & Product Design function.
There sustainable growth from the exports and theinternationalization of Italian companies is of vital importance for the health of our country system and the enhancement of Made in Italy. In the situation of stable fragility we are experiencing, it is becoming increasingly strategic to secure supply and supply chains through innovative solutions, which allow liquidity to be managed efficiently and safely and operational risks to be minimized.
For this reason, theInnovation Lab of SACE with Eureka set itself the goal of developing a solution capable of promoting the collaboration of the various players involved in international commercial operations, which would allow access to insurance-financial solutions capable of safely supporting the export potential of Italian companies, especially SMEs. “The EUREKA project is one of the first results of the experiments already started by the SACE Innovation Lab concerning the fintech world, blockchain flows and the metaverse – he declared Francesco Salzano, Head of Customer Centricity & Product Design SACE–. Its success confirms SACE’s commitment to innovation and digitalisation, in line with our TOGETHER 2025 Business Plan, in a context in which it is becoming increasingly important to identify solutions to protect companies operating on the global market”.
In detail, thanks to blockchain technology, the Eureka project envisages the use of distributed ledgers as tools for collecting and sharing the information generated along the life cycle of a international business transaction, from the phase of negotiation up to the management of insurance tools, through a single open platform in which documents and commercial assets are digitized, so as to have a univocal vision thanks to the features of sharing, transparency, immutability and data security that characterize the blockchain system.
The selected projects will be supported in the subsequent phases of development from the know how specific to the Bank of Italy in banking, finance and insurance matters and in specific thematic areas linked to the same projects. SACE’s proposal thus enters a six-month acceleration and development phase before entering theopen platform which integrates SACE’s insurance-financial services with a range of business support solutions that involve all players in the country system, from stakeholders up to businesses.
Innovation is the enabling element of TOGETHER 2025 Business Plan and allows you to respond to already known problems and to the needs of client companies that have not yet been detected. L’Innovation Lab it is immersed in the SACE ecosystem and is permeable from the inside through the collection of ideas from the people of the Group and from the outside, through discussions with Universities, companies, and startups and innovation hubs, to intercept innovative, technological and business trends. Objectives of the Lab are the creation of prototypes to evaluate the most innovative ideas and the impact they have on the company, foster continuous innovation, a cultural change and a mindset based on research and listening, informing and involving all the people of the SACE team. There composition of the Lab is rotated and is renewed every six months, with an alternation at the level of company function and contact person; everyone can therefore actively participate in the workshop by presenting their ideas and participating in sessions and working groups.