Fintech Friday: modefinance

A successful example of the integration between financial knowledge and modern engineering numerical methods, modefinance has established itself as a credit agency with a difference. The fintech company’s co-founder and CEO Valentino Pediroda tells Boris Plantier more.

Working side by side as fellow engineers at the university of Trieste, Valentino Pediroda and Mattia Ciprian set about developing numerical methodologies and consulting for Italian rating agencies. “We started to ask ourselves why we should just apply this technology to the Italian ecosystem,” explains Pediroda. “Why not expand it to other countries?”

Being in Trieste, on the Eastern border of Italy, and working in an international scientific environment was the right boost the pair needed to think more deeply about the automation of financial evaluations. “At that time, ratings were mainly dedicated to (and assessed by) banks. However, growing multinationals and corporates were beginning to act like banks – they had their own finance departments, but lacked an internal rating methodology.”

And so modefinance was born. “Mattia Ciprian and I set up the company in 2009 to provide a trustworthy, rapid and solid creditworthiness assessment for this market,” Pediroda explains.

modefinance is today registered as a Credit Rating Agency. Its products and services help its clients in their decision making and provide easy access to the credit risk of companies, sectors, holdings, countries, supply chains, vendors and more. Thanks to its international partnerships, modefinance's risk analyses are without geographic limits. Starting from North America and ending in Asia, the company is able to provide worldwide coverage.

The customers of modefinance are the market players from different countries which operate in various economic sectors including insurance, banking, financial advisory as well as many other public organizations and governmental institutions.

“modefinance is the first fintech rating agency in Europe, CRA and ECAI, who has developed its own algorithm called MORE, which stands for multi objective rating evaluation. It’s also the first to use artificial intelligence methods to evaluate companies and financial institutions worldwide,” Pediroda says.

“The main aim is to optimize and automate current internal procedures, mainly thanks to the development of web-based custom solutions (via API) for a complete financial portfolio analysis: the oplon risk platform.”

The future looks bright for the firm. “Facing year-on-year growth since the beginning, our main priority now is strengthening our international presence, joining fundamental partnerships and opening foreign branches,” Pediroda.

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