Misys plc will link its Loan IQ Solution to DTCC’s Loan/Serv Reconciliation Service this September, enabling clients to view and reconcile loan positions on a daily basis.
Misys Loan IQ is used e to automate and develop commercial lending business. Misys joins a growing list of financial services firms that have linked their loan administration systems to the Loan/SERV Reconciliation Service. Other firms linking to Loan/SERV include Markit (WSO) and Deloitte & Touche LLP (CDO Suite).
“We are very excited about working with DTCC and helping to bring their solutions to the market,” says Ken Katz, senior solutions manager of Loan IQ, Misys. “The syndicated loan market will benefit significantly from electronic reconciliation and we are committed to helping our world-class clients transform the industry.”
“Leading global investment management firms need to make sure their loan positions are consistent with the agent bank records to ensure the accurate and timely servicing of these loans. Loan/SERV provides this data access in a real-time manner,” says Mathew Keshav Lewis, vice president, European Loans Product Management, DTCC. “By linking to Loan/SERV, Misys will improve the ability of its clients to reconcile loan positions with the major agent banks in both the United States and Europe, reducing risk, boosting efficiencies and providing greater transparency in the syndicated loan market.”
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