Financial software company Misys has acquired Custom Credit Systems (CCS), a specialist in commercial loan origination and loan workflow management software.
CCS is a US company, headquartered in Richardson, Texas and was founded in 1989. A portfolio company of Triton Pacific Capital Partners, it launched its flagship product, CustomLender, in 2005. CCS has 24 clients, including five of the top ten US lenders, which include Wells Fargo, Bank of America, US Bank, Comerica, Fifth Third Bank, Washington Federal and Huntington Bank.
Misys said that CCS’s management team and staff will integrate rapidly into Misys, with its president and chief executive (CEO), Brian Shaw, leading the business to capitalise on the growth opportunity from the merger. CCS’s solution is complementary to Misys FusionBanking Loan IQ. Its flexible loan origination engine is proven across multiple lending classes and is immediately available to more than 2,000 Misys customers to enhance their lending operations.
“We are delighted to become part of Misys and help extend its capabilities globally with our solutions,” said Shaw. “The timing is perfect, since the next two years could see up to 90% of banks integrating their credit and loan origination systems with servicing. As lenders transform their businesses, the combined offering of Misys and CCS will be a winning formula.”
The CustomLender solution is available as a deployed solution as well as in the cloud as a software-as-a-service (SaaS) solution. Customers will be able to license CustomLender as a standalone product or fully integrated with Misys FusionBanking Loan IQ for a comprehensive front-to-back office lending solution.
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