Ipreo and Misys announced the signing of an agreement whereby the two companies will integrate Debtdomain and Misys FusionBanking Loan IQ – market-leading software solutions for syndicated loan arrangers and agents.
Clients will benefit from the powerful integration capabilities included in FusionBanking Loan IQ. Mutual clients of Debtdomain and FusionBanking Loan IQ have previously integrated the products, but this solution will be the first that is jointly developed and supported by both Ipreo and Misys.
Through this integration, lender permissions are automatically updated on Debtdomain deal sites based on holdings changes in FusionBanking Loan IQ, thereby eliminating redundant manual work, reducing errors and improving compliance in the handling of sensitive non-public information. In addition, the integration will feed the holdings of each lender of record to Debtdomain in order to facilitate online amendment voting.
The partnership will also include other integration points between the systems, including the automated setup of new deals in FusionBanking Loan IQ based on syndication results from Debtdomain.
"We know from speaking to our clients that this partnership is welcomed by the market," said David Levy, Managing Director in the Global Markets Group at Ipreo. "We're pleased to be collaborating with Misys to provide new and improved ways for agent banks to manage deals with the least possible manual effort and reduced operational risk."
Ken Katz, Director of Product Strategy at Misys, added, "Lenders today find themselves up against information silos and increasing costs. In response we are seeing a drive to simplify, optimize and automate lending lines of business quickly and strategically. We're committed to delivering rich functionality at every stage of the loan lifecycle and it makes sense for us to collaborate with Ipreo to bring even greater efficiencies to the market."