BOSTON, June 23, 2015 /PRNewswire/ -- DXSyndicate, DebtX's front-office deal management platform, can now exchange data automatically with Misys' Loan IQ, one of the most widely used general ledger systems in the syndicated loan market.
"Automated data exchange is the first phase in DebtX's efforts to implement straight- through-processing (STP) between DXSyndicate and Loan IQ," said Managing Director Geoffrey Ricks. "In addition to the efficiencies clients achieve from synchronizing data between their front and back-end systems, the data exchange improves risk management and bank group communication for agency and syndication personnel."
Automated data exchange provides:
- Improved security and compliance. Data synchronization automatically identifies changes in the bank group to ensure the right parties are granted or denied access to information distributed through DXSyndicate without delay.
- Real time updates to front office. Maintaining the current state of the bank group in the front office system based on system of record data provides syndicators with timely and critical information when managing amendments, waivers, and other time-sensitive events.
"This new functionality automatically identifies discrepancies between lenders with access to DXSyndicate and lenders boarded to deals in Loan IQ, enabling us to address these discrepancies in real time," said Chad Freeburg, Assistant Vice President of Agency Services at U.S. Bank. "Synchronizing data between our front and back-end systems addresses this critical compliance concern."
The integration with Loan IQ resolves compliance issues for agency personnel and ensures syndicators have timely and accurate information about the bank group on seasoned deals. "This integration is a key differentiator for DXSyndicate and is another example of DebtX's ongoing commitment to product innovation," Ricks said.
For more information about DXSyndicate, contact Geoffrey Ricks, [email protected], 617.531.3400.
DebtX operates the world's most liquid marketplace for loans. Through its loan sale advisory, DebtX maximizes loan sale proceeds for financial institutions and government agencies. DebtX also provides loan valuation, analytics and market data for regulatory and audit purposes. For syndication, agency, and loan sale professionals, DebtX provides a suite of web-based deal management solutions. DebtX is based in Boston, with offices across the U.S. and Europe. Call 617.531.3400 or visit www.debtx.com. Follow DebtX on Facebook, Twitter and LinkedIn.