LEWES, Del., Aug. 27, 2020 /PRNewswire/ — Debexpert.com, online auction platform for banks and lenders to sell and for debt buyers to purchase delinquent debts, is completing preparations to enter the U.S. market. The first online auction is expected to be held in November 2020.
“Debexpert is an international delinquent debt auction platform featuring many innovative solutions at its core. It is important for us that everything works perfectly, thus before entering the U.S. market we conduct a comprehensive review of all our features, as well as refine our service to meet local market needs. With the Debexpert platform, users can sell and buy debt portfolios quickly, having 100% control at all stages of a transaction. The service becomes more convenient and functional every year. We do our best to create a positive experience for debt sellers and buyers with changes that advanced digital technology platform brings to any market,” says Ivan Korotayev, CEO of Debexpert.
A key advantage of Debexpert according to the company, is the ease of buying and selling debts through the platform. Clients get to see all necessary information about your portfolio, as well as being able to ask direct questions to a seller or a buyer, and exchange files. Debt buyers receive access to full information of a portfolio before trading starts to assess whether fits their business profile. An auction lasts 1 hour and a buyer who offers the highest price wins. Debexpert also provides 100% security for every transaction: all sellers and buyers go through a rigorous compliance process to rule out violations.
With the online auction platform, debt buyers can buy pools that match 100% to the company’s profile and the geography they need, which, of course, increases the liquidity of the entire debt portfolio of the buyer. In addition, debt buyers can quickly sell irrelevant parts of the portfolio at an auction.
The US NPL market is the largest in the world, amounting to $120 billion. The total amount of investments in delinquent debts for 2019 was $4 billion. A multifold increase in NPL portfolio sales is expected in 2020 and 2021.
“NPL market enters digital transformation much later than others. The new services make the transaction process faster, easier, and more transparent. Even conservative markets, such as the NPL market, will soon become more dynamic, modern, and much more efficient for all of its participants,” adds Ivan Korotayev.
Founded in 2019, Debexpert is an international company. The company started its activities in Russia, quickly taking a dominant position. The service was developed by a team of professionals who have been developing CarPrice, an online car auction platform in Russia and Japan, since 2014. For two years in a row, CarPrice was ranked as one of the most promising companies in Europe. Currently, Debexpert operates under the Debex brand in Spain, Russia, and Kazakhstan. The company plans to enter the Asian market in 2022.