QQuant Master Servicer Servicing of Loans and Credits Single Member S.A. (‘Quant’) announces its relicense by the Bank of Greece (BoG) following the Credit and Insurance Committee Decision No. 505/28.6.2024. This comes after a thorough review and detailed feedback from the regulatory body on the submitted documentation. Quant is one of the Servicers operating in Greece, completing this process within the deadline.
All the required actions were completed within the first quarter of 2024, with the respective Business Units' active participation alongside the Senior Management's guidance and the Compliance Unit's coordination.
During the six weeks for Quant's application submission, a gap analysis was conducted regarding the new legal and regulatory requirements. Necessary documents were gathered, policies and procedures were reviewed, new ones were drafted, and meetings were held with BoG executives.
The relicensing strengthens Quant’s position within the Servicers’ sector, confirming its robust internal policies and procedures covering areas such as Corporate Governance, Internal Control System, Outsourcing of Activities to Third Parties, Complaints Management, Cyber Security, and Information and Communication Technology Security.
Quant will continue its operations in accordance with the enhanced legal and regulatory framework established by the new Law 5072/2023 and BoG Act No. 225/30.1.2024, enhancing transparency while servicing assigned portfolios.