At the end of September, our Co-Founders Kasper Kripalani and Kristian Klieber were in London for NPL Global, meeting investors, servicers and lenders from across Europe. Three things we’re taking home:
1. Adaptive intelligence is reshaping NPL markets and servicing
From portfolio due diligence to debtor communication, technology is moving from support function to core of the value chain. Adaptive intelligence is changing how portfolios are priced, how they’re worked, and how quickly servicers can act on new information.
2. Macroeconomic pressure is building, especially in Germany
More and more people are struggling to keep up with their payments. Reported German NPL volume has risen to just over €50bn and is expected to reach €53.1bn by the end of 2027. At 15.0%, the Stage 2 ratio in Germany is well above the EU/EEA average of 9.1%, so potential transitions to Stage 3 deserve close attention. The market keeps growing, just without the acceleration of previous years. (Source: BKS NPL-Barometer 2026)
3. The next edge lies in tabular foundation models
At Pace, we’re focusing early on tabular foundation models to support portfolio valuation and next best action and to power the communication and context layers on top. Structured debt data is exactly where these models shine. More on our approach in our whitepaper: https://pacepayments.ai/whitepaper-tabular-foundation-models
Thank you to the SmithNovak team and everyone who took the time for a conversation in London.
