Finastra partners with AccessFintech for data transparency in the syndicated loan market
By Joy Dumasia
21 October 2021
Finastra, the largest pure-play software provider serving the entire financial services industry, and FinTech Access, the data-sharing network that optimizes workflow through collaboration, announced that they have teamed up to bring greater data transparency, efficiency and industry-wide collaboration on 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 faxes, emails and phone calls and making reconciliation more efficient.
Finastra’s Fusion LenderComm will enable Fusion Loan IQ agents to deliver data to Synergy DataLake, enabling publishers and lenders to access contract and transaction-level data, manage and monitor their operations, and facilitate the efficiency of operations through transparency and collaboration. Updated loan data will be sent from Synergy to Fusion Loan IQ via direct processing as part of the Fusion LenderComm offering to complete the integration between the two platforms.
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 its comprehensive suite of lending solutions, including Fusion Loan IQ, the world’s leading commercial lending platform.
Amy Walker, Vice President of Fusion LenderComm at Finastra, said: âOur partnership helps solve the pressing industry challenge for both sides of the market around the digitization of data. Finastra and AccessFintech are ideally placed to provide greater transparency to the lending market. AccessFintech’s vast network and proven collaborative capabilities will ensure that we reach all market players. Together, we will move the loan market forward.
Recently, IBS Intelligence reported that Finastra and Bakkt announced their intention to make Bakkt’s digital marketplace and wallet available through Finastra’s open development platform and application store, FusionFabric.cloud.
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21 October 2021
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