Harmonic Fund Services live with Finastra for loan servicing
London and New York, June 27, 2018 – Harmonic Fund Services has gone live with Finastra’s Fusion Loan IQ solution. The independent fund administration and alternative asset fund servicing firm will leverage the platform — traditionally used by banks and increasingly by service providers, to service their bilateral, specialised and syndicated loan portfolios — to provide a new loan administration and agency service to its diverse alternative investment funds client base.
“Our customers have sophisticated needs, and when it comes to loan admin servicing that is no exception,” said John Wolfe, Director, Harmonic Fund Services. “With Fusion Loan IQ, we will be able to expand our services to meet the growing lending needs of our fund administration clients. This will be a highly complementary offering to our existing and well established private debt administration and back/middle office support operations.”
Harmonic Fund Services provides services and technology to investment funds, including hedge funds, fund of funds, private equity/debt funds, pension funds and family offices. It has recognized an untapped opportunity to bring in-demand loan services to its clients, and sought a technology partner that could provide a best-of-breed solution. Fusion Loan IQ was selected for its ability to handle complex debt related transactions and very large syndicated loan deals.
“Harmonic Fund Services is demonstrating how products traditionally used by banks can be implemented in other areas of financial services,” said Chris Zingo, Managing Director, Americas, Enterprise Markets, Finastra. “This approach to technology is bringing a sought-after service to the fund administrator’s end users, whilst expanding Harmonic’s vertical debt servicing platform.”
For further media information please contact:
Finastra unlocks the potential of people and businesses in finance, creating a platform for open innovation. Formed in 2017 by the combination of Misys and D+H, we provide the broadest portfolio of financial services software in the world today—spanning retail banking, transaction banking, lending, and treasury and capital markets. Our solutions enable customers to deploy mission critical technology on premises or in the cloud. Our scale and geographical reach means that we can serve customers effectively, regardless of their size or geographic location—from global financial institutions, to community banks and credit unions. Through our open, secure and reliable solutions, customers are empowered to accelerate growth, optimize cost, mitigate risk and continually evolve to meet the changing needs of their customers. 48 of the world’s top 50 banks use Finastra technology.
Please visit finastra.com.
4 Kingdom Street
London W2 6BD
T: +44 20 3320 5000