Credit Suisse and Société Générale Corporate & Investment Banking have signed up to Euroclear Bank’s LoanReach service for syndicated loan transactions. At the moment, 15 clients are testing LoanReach.
LoanReach offers a free-of-charge service to allocate unique identifying codes for syndicated loans. It also provides a centralised loan database, as well as customised reporting possibilities for agent and lender portfolios. LoanReach’s portfolio reconciliation feature enables agents and lenders to reduce their operational workload and risks by easing portfolio reconciliations, while maintaining confidentiality of loan information. A key purpose is to decrease the number of reconciliation failures between agents and lenders, resulting in more efficient and accurate processing of cash-related operations, which will benefit lenders and agents alike.
Martin Lelong, project director at Société Générale Corporate & Investment Banking, said: “We have been testing LoanReach for some time and are convinced that this automated solution for processing syndicated bank loans will benefit us. We believe LoanReach will increase operational efficiency, while reducing risks and costs, as it removes the paper-based and manual workload associated with loan transaction processing.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more