Banks around the world are increasingly under pressure as non-bank entities enter the lending space and regulations, such as Basel III, heighten risk management and capital requirements. At the same time, commercial loan growth is expected to double over the next 10 years, according to PwC's IHS Global Insight for Commercial and Industrial Loans report.
In order to position themselves for success in this evolving landscape, banks must implement improved loan origination systems and efficient credit management systems while reducing costs throughout the entire lending lifecycle to remain competitive.
To help meet this need, Misys, a provider of financial software, has launched FusionBanking Lending, an all-in-one lending solution that gives banks the ability to manage the full loan lifecycle on a single platform.
In a release, company officials claim the solution supports the entire lending workflow – from origination, credit analysis and document generation in the front office to servicing, accounting and portfolio risk management in the back office – covering syndicated and high-volume commercial lending.
The solution is born from the fusion of two solutions: Misys FusionBanking Loan IQ, a commercial lending management and servicing solution, and Misys FusionBanking Credit Management Enterprise, a loan origination and credit workflow management solution, the latter of which Misys acquired from Custom Credit Systems in August 2014. Both can be licensed as stand-alone solutions.
‘Since joining forces six months ago, our teams have been working tirelessly to create a unique commercial lending solution by integrating our world-class solutions,’ says Brian Shaw, general manager, FusionBanking Lending, for Misys, in a release. ‘The lending industry is looking at ways to streamline operations and reduce the cost of loan operations to support their growth. Incorporating credit and loan origination systems with servicing, we have the only all-in-one platform on the market that will drive this evolution and help our clients significantly enhance their lending capabilities.’
Misys reports that Farm Credit Bank of Texas is already using FusionBanking Lending.
‘We have a responsibility to our customers to provide them with a seamless, efficient experience when they come to us for funding,’ says Michael Elliott, chief information officer for Farm Credit Bank of Texas. ‘Misys is the only company that provides the full coverage we need in a single lending system. The integrated end-to-end system gives us an efficient workflow process minimizing the need for re-keying of data, giving us maximum efficiency in our lending operations to keep costs low. The system will also allow us to take more control of the loan origination process, giving us a single customer view and credit management functionality to enable us to grow our business.’