Capmark Invests in Innovative SaaS Technology From Misys to Expand Into Outsourcing Services for the Syndicated Loan Market
By Prne, Gaea News NetworkTuesday, March 17, 2009
LONDON - Capmark to Become First European User of Hosted Misys Loan IQ Solution
as it Establishes Agency Servicing Business for New and Existing Customers
With Syndicated Loan Portfolios
Capmark, a provider of a broad range of financial services to
banks and investors in commercial real estate-related assets, has invested in
an innovative hosted technology platform from Misys, the global application
software and services company, to expand its outsourcing and loan servicing
to the general corporate syndicated loan market.
Many analysts are predicting that 2009 will see a surge in outsourcing
worldwide and According to Financial Insights, demand for transaction
processing outsourcing in Europe will grow by 10% this year as banks focus on
core businesses such as payment processing and trade finance, and Capmark
hopes to capitalise on this trend by offering middle and back office services
to banks and financial institutions.
Misys announced in June 2007 its intention to create
software-as-a-service offerings for all its products serving treasury and
capital markets, and Capmark will become the first financial institution in
Europe to implement a hosted version of Misys Loan IQ, a comprehensive tool
that covers the entire life cycle of commercial loans. To strengthen its
operations, the firm has licensed modules for full agency servicing across
its operations in London, Dublin and Hyderabad.
Robbie Hughes, Managing Director of Capmark Europe commented:
“Existing Capmark clients are now interested in a value - added loan agency
service to handle their corporate and syndicated loans. The Misys solution
together with our existing infrastructure will give us immediate capability
to deliver a service which will meet the requirements and challenges faced by
the banks. As banks consider solutions to ever increasing back office costs,
I think they will find that using a local service provider is more tangible
and an immediate solution than retaining such costs or developing another
expensive cost base elsewhere. We chose Misys as a strategic partner not only
because it has a proven hosted solution with a global presence, but because
it also understands the changing requirements of the bank market”.
Dermot Briody, Regional Director for Misys in Europe,
comments: “The ability to change is a competitive differentiator in market
conditions like these and building Misys Loan IQ into the framework of this
new service should yield many benefits for Capmark and the new demands of our
clients. They have a global infrastructure and processes in place and a
proven track record of delivering superior loan administrative service. Misys
is focused on ensuring quick delivery of this robust hosted solution and to
facilitate a working relationship that continues to deliver value services to
our customers and our continued business success.”
Misys Loan IQ, part of Misys’ Solutions for Treasury & Capital
Markets portfolio, currently handles one third of the world’s syndicated
loans and half of the world’s secondary loan trades. Misys Solutions for
Treasury & Capital Markets has 19 years of loan market experience and
unrivalled software development expertise. It creates integrated,
comprehensive solutions for financial institutions to manage their capital
market activities across multiple asset classes.
About Misys plc
Misys plc (LSE: MSY), provides integrated, comprehensive
solutions that deliver significant results to organisations in the financial
services and healthcare industries. We maximise value for our customers by
combining our deep knowledge of their business with our commitment to their
success.
In banking and treasury & capital markets, Misys is a market
leader, with over 1,200 customers, including all of the world’s top 50 banks.
In healthcare, Misys plc owns a controlling stake in NASDAQ-listed
Allscripts-Misys Healthcare Solutions, Inc, a clear leader in the provision
of healthcare technology, serving more than 150,000 physicians, 700 hospitals
and nearly 7,000 post-acute and homecare organisations. Misys employs around
6,000 people who serve customers in more than 120 countries.
We aspire to be the world’s best application software and
services company, delivering results for the most important industries in the
world.
Misys: experience, solutions, results
Contact us today, visit: www.misys.com
For further information please contact
Stephen White
Misys Solutions for Treasury & Capital Markets
+44-(0)-203-3320-5593
stephen.white@misys.com
Source: Misys plc
For further information please contact: Stephen White, Misys Solutions for Treasury & Capital Markets, +44-(0)-203-3320-5593, stephen.white at misys.com