Collaboration speeds up data availability for lenders through Fusion LenderComm and Synergy DataLake
LONDON, 20 October 2021 / PRNewswire / – Finastra, the largest pure software provider serving the entire financial services industry, and AccessFintech, the data sharing network that optimizes workflow through collaboration, today announced that they have teamed up to bring greater data transparency, efficiency and industry-wide collaboration to the syndicated loan market.
The integration of Finastra’s Fusion LenderComm platform and AccessFintech’s Synergy DataLake accelerates data availability for lenders and strengthens internal operations and collaboration between agents, lenders and service providers. It also helps digitize the market, eliminating the need for faxes, emails and phone calls and making reconciliation more efficient.
Finastra’s Fusion LenderComm will enable Fusion Loan IQ agents to provide data to Synergy DataLake, enabling publishers and lenders to access contract and transaction-level data, manage and monitor their operations, and facilitate efficient operations through transparency and collaboration. To complete the integration between the two platforms, updated loan data will be sent from Synergy to Fusion Loan IQ via direct processing as part of the Fusion LenderComm offering.
Cory Olsen, Loans Business Manager at AccessFintech said: “Finastra and AccessFintech are natural partners because we are both committed to digitizing the market and making it more transparent. This joint initiative improves agent and lender efficiency, enabling agents to share data instantly and benefit from centralized workflows and collaboration. “
Amy walker, Vice President of Fusion LenderComm at Finastra said, “Our partnership helps solve the pressing industry challenge for both sides of the market around the digitization of data. Finastra and AccessFintech are uniquely positioned to provide greater transparency in the lending market. collaborative capabilities will ensure that we reach all market players. Together, we will advance the loan market.
Fusion LenderComm digitizes and streamlines information exchange for agents and lenders. It is built on APIs through Finastra’s open development platform, FusionFabric.cloud, and is part of the company’s comprehensive suite of lending solutions, including Fusion Loan IQ, the leading commercial lending platform. in the world. Overall, Finastra software powers over 70% of total syndicated loans worldwide.
Synergy DataLake uses shared industry data to simplify and accelerate workflows, reduce capital requirements, and provide valuable benchmarking information.
Learn more about Synergy DataLake here.
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Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Backed by the largest and most comprehensive portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes around the world, including 90 of the world’s 100 largest banks. Our open architecture approach brings together a number of partners and innovators. Together, we show how applications are written, deployed and used in financial services to evolve with changing customer needs. Learn more about finastra.com
AccessFintech’s Synergy ecosystem helps optimize workflow through collaboration, data, and shared access to technology. By enabling users to collaborate on data, it transforms operations to simplify and accelerate workflows, reduce capital requirements, and provide access to benchmarking information. At the core is the Synergy DataLake, which facilitates large-scale data collaboration, with more visibility into transaction data and workflow optimization to accelerate and simplify transactions through digital automation. Synergy DataLake enables resolution and decision making in one place, as well as technology distribution providing connectivity to new technologies and lowering the cost of ownership for everyone. AccessFintech has built a network of leading financial institutions with a critical mass of data, participants and use cases and more than one billion transaction updates are now processed every month on Synergy.