Italy based portal Immobiliare has announced a partnership with banking institution UniCredit in the first deal of its kind in Italy.
Immobiliare will collaborate with UniCredit to monitor real estate valuations every six months and collect data on mortgage loans given out by the bank.
The deal will combine Immobiliare's own machine-learning valuation models with UniCredit's mortgage data to create—theoretically—the most robust and trustable source of property valuations in Italy.
UniCredit is the only Italian financial institution that follows the guidelines of the European Banking Authority (EBA), so Immobiliare could only form such an agreement with them.
Antonio Intini, chief business officer of Immobiliare.it, said:
"We are thrilled to support UniCredit in this virtuous and innovative path through advanced mathematical models and a database made up of a plurality of real estate. In addition to demographic sources and socio-economic data, [we will be] able to return an accurate, independent and reliable evaluation of the properties."
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