Versana Launches New Reconciliation Module, Advancing the Digital Transformation of the Corporate Loan Market

Agents and Lenders Benefit from Significant Operational Efficiencies and Scalability

NEW YORK, Jan. 14, 2025 /PRNewswire/ -- Versana today announced the launch of its leading-edge reconciliation solution, an add-on module to its centralized digital data platform. This major advancement leverages the power of the company's growing pool of corporate loan data by electronically matching lenders' positions to agents' golden-source data at any point in time. This game-changing tool optimizes workflows and reduces data inconsistencies and costs.

The $8 trillion corporate loan market still relies heavily on legacy communication methods and text conversion technologies, resulting in material timing differences in transaction data across lenders and service providers. Further, the majority of cash flow mismatches from agents to lenders result from position discrepancies. The Versana Reconciliation Module (VRM) solves this longtime challenge by providing quick identification and resolution of position breaks against agents' records. Moreover, a unique benefit includes the display of each digital transaction notice causing such differences, greatly improving transparency and accuracy to facilitate straight-through processing.

"Today's launch of our Versana Reconciliation Module is the tipping point in our mission to digitally transform the corporate loan market. By leveraging our real-time digital data platform, we are uniquely able to electronically match lenders' positions to agents' records, providing immediate insight into any discrepancies," said Versana's Founding CEO Cynthia E. Sachs.

"I'm pleased that we're able to combine early feedback from clients, prospects and the market in designing an intuitive solution that accelerates the identification of breaks and provides the answer key to resolution. This puts lenders in the driver's seat to proactively address issues as they occur," said Versana's Head of Product Christine Scaffidi.

Versana continues to build momentum, closing a $26 million capital raise in mid-2024 to fuel its growth and expanding its leadership team to support the company's development.

About Versana
Versana is an industry-backed enterprise data and technology company transforming the syndicated loan and private credit markets. By digitally capturing agent banks' corporate loan data on a real-time basis, Versana provides unprecedented transparency into global loan level details and lender portfolio positions, bringing efficiency and velocity to the entire asset class. Through its centralized platform, participants can rest assured they are accessing the loan market's most credible source of deal information. With the support of its investors, Versana is fast becoming the technology of choice to usher in the long-awaited modernization of the corporate loan market. For more information, visit versana.io.

Media Contact
Forefront Communications for Versana
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SOURCE Versana