Capita Asset Services (CAS) is Europeâs largest independent 3rd party commercial mortgage servicer, providing loan administration, facility agent, asset management and special servicing to the banking and securitisation markets. CAS has offices in the UK, Germany and Ireland and manages over Â£35 billion in assets. CAS is also the Master Servicer for the National Asset Management Agency in Ireland.
In summer 2010 CAS, after a review of future business needs, decided that its current loan servicing platform was no longer adequate, and needed to be replaced. After reviewing the available solutions the decision was made to select Evolan, from Sopra Group, as the solution was a 100% fit for the identified needs.
Evolan is a family of standard software products and services addressing financial institutions and includes amongst other products, best-in-class lending solutions. After a record implementation of only 8 months, CAS went live with Evolan on 21st March 2011. This implementation included the migration of around 800 highly complex commercial loans.
According to Robbie Hughes, CEO of CAS: âThe new platform is critical to our current operation, as well as allowing us to easily implement our new business strategy. This was a true partnership approach with Sopra Group. They have not only provided an outstanding lending platform, but also the in-depth knowledge to implement it efficiently thus allowing it to quickly add value to our business. We are already experiencing tangible benefits from using it.â
Sopra Group UK Chief Executive Pierre-Yves Commanay commented: âWe have worked closely with Capita Group on a number of IT initiatives spanning many years and have developed a strong partnership. Their decision to choose Evolan and the subsequent speedy and successful implementation has further reinforced the relationship and we look forward to supporting Capita Asset Services in their growing businessâ.