IntraLinks Holdings and Misys have partnered to better service participants in the US$3.9 trillion syndicated loan market by offering end-to-end process solutions that mitigate legal and operational risk and increase operational effectiveness.
Under the partnership, the two companies promise to expand efforts in supporting the straight-through processing (STP) of information that is critical to the lending process. As a first step, they will launch a major upgrade to the Lenderbridge connector that currently automates the provisioning of lender access to IntraLinks’ virtual deal rooms directly from within Misys Loan IQ.
The upgrade embraces market standards in lender identifiers and enables the real time synchronisation of fund-level entities by providing administrative agents with the ability to fully represent their legal lenders of record for each deal conducted on IntraLinks’ platform. It will also serve as a foundation for the launch of additional loan process solutions including the complicated process of administering amendment voting.
“Amendment voting is one of the remaining mostly manual processes in the syndicated loan market,” said Ellen Hefferan, vice president of operations at the Loan Syndications and Trading Association (LSTA). “Solutions that can streamline this process and reduce operational risk are critical to the future growth of the market.”
IntraLinks will also offer an interface to Misys Loan IQ that includes a new front-office deal management capability intended to provide best-in-class joint book running, pipeline reporting, and customer relationship management tools. “This new partnership arrangement reinforces our existing relationship with IntraLinks and will enable us to offer our joint clients substantially more capabilities and STP,” said Ken Katz, senior loan IQ solutions manager at Misys.
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