Versana Launches Digital Data Platform, Delivering the Modern Foundation to Transform the $5T Syndicated Loan Market

Versana Launches Digital Data Platform, Delivering the Modern Foundation to Transform the T Syndicated Loan Market

NEW YORK, Dec. 13, 2022 /PRNewswire/ — Versana nowadays introduced the release of its industry-backed syndicated mortgage platform, bringing to marketplace a brand new centralized answer that digitally captures agent banks’ deal information on a real-time foundation, offering the trendy basis for long run marketplace innovation and collaboration. Versana connects banks, institutional lenders and their carrier suppliers to ship transparency, potency and pace to this $5 trillion marketplace.

Versana Launches Digital Data Platform, Delivering the Modern Foundation to Transform the T Syndicated Loan Market

Cynthia E. Sachs, Leader Govt Officer at Versana (PRNewsfoto/Versana)

Versana’s syndicated mortgage platform is innovative for the non-public sector of the company credit score marketplace, offering extraordinary transparency that hasn’t ever ahead of been made to be had to marketplace individuals. Mortgage and place stage main points vary from international borrower commitments and outstandings to historic transaction money flows, positions on a fund-by-fund foundation, base price contract main points in addition to digitized occasion notices.

Founding buyers J.P. Morgan, Financial institution of The united states, Citi and Credit score Suisse, operating with their respective mortgage syndications and debt capital markets divisions, created Versana to to start with cope with the operational inefficiencies and technological fragmentation within the U.S. leveraged mortgage marketplace. The platform is now attached and are living with real-time mortgage information. All 4 founding banks are actually Versana subscribers and its first early-adopter purchasers.

Propelled ahead via the banks’ asset magnificence experience and controlled via Versana’s crew of seasoned banking and generation pros, the platform is the marketplace’s first real-time, multi-tenant answer centralizing company mortgage information flowing immediately from main administrative agent banks’ books and data. With its release, Versana facilitates straight-through processing and long-term, scalable marketplace expansion, enabling individuals to transform from legacy analog processes to a state-of-the artwork, self-service information and generation platform that contains long run innovation.

“That is actually a huge day for all of the mortgage marketplace,” stated Versana Founding CEO and Board Member Cynthia Sachs. “Versana is the long-awaited electronic information and generation answer that the syndicated mortgage marketplace has so very much wanted. We’re extremely joyful to release this platform with the leading edge and strategic strengthen of our founding buyers for a greater – and in the end larger – company credit score marketplace.”

Alex Naboicheck, Head of U.S. Leveraged Mortgage Buying and selling at Financial institution of The united states: “We are excited to enroll in with different main agent banks to mark the release of the Versana platform. The truth that all 4 founding banks have invested capital in addition to dedicated to give a contribution their administrative agent mortgage information to the device speaks volumes about our trust on this initiative. We are proud to play such an integral function because the platform involves marketplace.”

Joseph Ferraiolo, Head of Debt Capital Markets Operations & Service provider Financial institution Coverage at J.P. Morgan: “This thrilling effort will lead the electronic transformation of the syndicated mortgage marketplace. Shifting to a digitized structure will additional permit marketplace individuals to cut back prices, building up potency, and lenders can have ease of receiving their mortgage holdings information to permit sooner resolution making to recycle and develop liquidity out there.”

Jeff Cohen, World Head of Leveraged Finance at Credit score Suisse: “The release of the Versana platform is a significant milestone in our project to remodel the syndicated mortgage marketplace via bringing innovation and generation to endure around the mortgage lifecycle. We are excited to be taking part in a component achieve this aspirational function.”

Nina Guinchard, World Head of Transaction Control at Citi: “With the release of the Versana platform, real-time sharing of mortgage knowledge is changing into a fact. We are serving to take syndicated mortgage information and generation infrastructure to the following stage, one thing this is essential for the ongoing expansion of the {industry}.”

The open, permissioned-based device is designed particularly for the non-public nature of the asset magnificence and is a key characteristic of the platform. The preliminary scope of the answer is targeted at the U.S. institutional marketplace, particularly Time period Mortgage As and Bs. As further agent banks, lenders and repair suppliers sign up for, Versana plans to additional improve its product choices to fulfill the evolving wishes of its purchasers during the mortgage ecosystem.

“The Versana platform has been constructed via a crew of veteran banking and generation pros with a long time of enjoy operating within the mortgage ecosystem,” stated Versana CTO David Kamp, who joined the company in July. “Understanding firsthand the demanding situations confronted via individuals on this house, we have now constructed a powerful and safe basis to modernize the marketplace via leveraging good contracts and distributed-compute and event-processing engines.”

For additional info and updates, please discuss with versana.io.

About Versana

Versana is an industry-backed information and generation corporate on a project to make the syndicated mortgage marketplace higher. Through digitally shooting agent banks’ information on a real-time foundation, Versana supplies extraordinary transparency into mortgage stage main points and portfolio positions, bringing potency and pace to all of the marketplace. Via our centralized platform, individuals can leisure confident they are having access to the mortgage marketplace’s maximum credible supply of deal knowledge. With the strengthen of our buyers, Versana is rapid changing into the generation of selection to herald the long-awaited transformation of the syndicated mortgage marketplace. To be told extra, discuss with Versana.io.

Media Touch
Michael Kingsley
Leading edge Communications for Versana
[email protected]
(914) 522-9471

Versana (PRNewsfoto/Versana)

Versana (PRNewsfoto/Versana)

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SOURCE Versana

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