Palermo, 1st October 2018

Banca Sistema lands in Palermo with “ProntoPegno”, the pawnbroking service that - while deeply-rooted in the Mount of Piety tradition (Monte di Pietà) – has evolved, morphed by innovation.
The initiative, with the “ProntoPegno” pawn-agency in via Marco Polo 7, Palermo, is presented today during an event hosted by Fondazione Sicilia at Palazzo Branciforte, Sala dei 99.
The event, entitled “Monte di Pietà to reopen under the banner of innovation”, is opened by Lawyer Raffaele Bonsignore – Chairman of Fondazione Sicilia, and Professor Giovanni Puglisi – Vice-Chairman of Banca Sistema, welcoming the participants in the palace headquartering the historical Monte di Pietà of Santa Rosalia and dwelling on the origins and the historical and social implications of the Monte dei Pegni.
Then, Mr. Gianluca Garbi’s, CEO of Banca Sistema, speech is to delve into the goals and functions of the “ProntoPegno” service.
Pawnbroking is an activity historically provided by Mounts of Piety, organized and operated by the Catholic Church back in the middle ages, that right from the start played an important role in meeting the demand for credit and support to political, cultural and religious activities. Over time, regulatory changes led to the definition of more and more precise requirements regulating the capital, governance and activity aspects to be complied with by the institutions engaging in this type of service.
By opening the “ProntoPegno” pawn-agency in Palermo, Banca Sistema grows its pawnbroking business, started at the beginning of 2017, and strengthens its presence in the territory by promoting a service bearing an important social value.
“Among the steps taken to strengthen and diversify the activities and services the Bank offers to its clients, ProntoPegno is a real gem: marginal in terms of sales, considering that sector-wise they add up to about 1 billion euro, yet precious, considering that it represents a transparent, direct and safe access to credit aimed at supporting temporary financial needs of clients, and what’s more, it prevents people in dire straits to turn to undignified financing solutions. I am proud that Banca Sistema’s Monte dei Pegni is growing and it is a great pleasure to be here in Palermo” remarked Gianluca Garbi, CEO of Banca Sistema.
Pawnbroking is a particularly easy-to-get financing because it is not based on the client’s creditworthiness, but rather on the value of the pledged asset. No credit check is needed, and the client receives right away an amount of money commensurate with the value of the pledge. Generally, when the loan expires, the client gains once again the ownership of the pledged assets by paying back the sum received under the financing, plus the expenses and interest due for the period; if desired, it is possible to redeem the pledge in advance or to extend the loan maturity. The loan maturity ranges from three to twelve months and can be extended for no longer than three years.
The service provided by “ProntoPegno” is backed by Banca Sistema’s professionalism and can offer clients a greater value thanks to the Bank’s distinguishing innovative trait.
The “Pronto Pegno” App, for example, is a tool that has been designed to give direct access to a discreet and safe virtual pawn-agency. In just a few clicks, it is possible to receive on-line a preliminary non-binding valuation of the asset to be pledged, and then arrange an appointment to complete the transaction.
Today Banca Sistema, a bank specialized in financing and managing trade receivables owed by the Italian Public Administration, is a diversified institution active in the specialty finance space. It provides “ProntoPegno” services at the Milan, Rome and Pisa branches, as well as in the pawn-agencies located in Naples and Palermo.  Moreover, recently it has acquired the portfolios of long-standing players in Rome and Naples.
More detailed information on the offered services at (website in Italian, English and Spanish)

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