New service eliminates headaches in historically manual agent notices processes
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced the automation of agent notices processing within SS&C Bank Loan Services.
The new agent notices process streamlines the labor intensive and opaque processes that currently exist in today’s workflows. Replaced with a fully automated process, managers can provide transparency through an easy-to-access client portal to store and process documentation related to bank loan holdings. As one of the largest bank loan administrators, SS&C provides an integrated and scalable suite of technology and services that delivers increased transparency and efficiency to loan market participants. With our agent notices service, managers can effectively and efficiently handle in-bound agent notices. The service enables straight through processing (STP) and operational controls over audit needs that are integrated with a client’s operations.
“Administrative managers today are sending their agent notices via email or fax, which is an archaic procedure,” said Alan Smith, Senior Vice President, SS&C Loan Services. “Investors demand greater independence and transparency around this asset class. We provide traditional and alternative asset managers with the tools to automate the agent notices processing and meet client requests through an accessible online portal and integrated data solution.”
There is over $1 trillion in assets serviced across 300 clients including alternative, banks, and insurance. SS&C Loan Services offers a comprehensive suite of technology and outsourced services across the entire loan spectrum: accounting, reserving, credit risk analysis, middle and back-office administration, agency or shadow servicing of commercial and residential mortgages and bank loans. SS&C Loan Services is comprised of three core areas covering bank loans, residential whole loans, and mortgages.
With $100 billion across financial services clients, SS&C Bank Loan Services offers middle office loan administration including market data, trade processing, document management, and portfolio management. The SS&C Bank Loan Services covers 3,500 facilities and is supported by a dedicated team of product specialists with on average 10+ years of experience in both Loan Syndication and Trading Association (LSTA) and Loan Market Association (LMA) market conventions as well as Loan Agency solutions.
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