- Investment in Misys Loan IQ will boost controls in back office and highlights trend in buy-side taking share of primary loan market
29 January 2008- BlueBay Asset Management plc, a manager of fixed income credit funds and products in Europe, has enhanced its loan market operations with a best of breed commercial lending system from Misys (FTSE: MSY.L), the global software and solutions company.
The full implementation of Misys Loan IQ software has been completed at the firm's headquarters in London, enhancing back office performance and meeting the needs of the buy-side firm's rapidly expanding loan book. Furthermore, Misys have worked with BlueBay to replace manual processes and boost automation within its loans operations. The new solution has been integrated with Sungard's specialist investment accounting package, Invest 1, in the front office so that each loan related event which is captured into Loan IQ is reflected in the books and records of the portfolio accounting system.
Misys Loan IQ is a comprehensive lending solution that covers the entire lifecycle of a loan - from origination and deal tracking to administration and record maintenance. BlueBay will utilise Misys Loan IQ's proven modules for agency servicing and portfolio management among others to realise processing efficiencies in the back office and increase its presence in the primary loan market.
Simon Lumsdon, Head of IT at BlueBay, comments: "The implementation of Loan IQ fulfills our need for a system based solution that allows us to grow our loans business in a scalable and controlled manner. Loan IQ has been integrated into our systems architecture using a real time event based messaging solution that fully reflects the loans into our portfolio accounting system without manual duplication. This has allowed us to fully integrate management of the loan product together with the wide range of asset classes that we trade in, something which provides control and scalability to the operational management of this product.
"The speed at which Misys Loan IQ has been deployed also means we have been able to quickly develop our services whilst keeping the highest standards in compliance and reporting. Misys has shown commitment to working with us during this complex integration project."
Bluebay's adoption of Misys Loan IQ represents Misys' continuing expansion into the buy side.
Keith Stonell, MD EMEA, Misys Treasury & Capital Markets comments: "Expanding markets and changing legislation have encouraged the provision of larger loans, increasing levels of syndication and multi-currency requirements. There has been a noticeable increase in hedge funds getting into lending markets,and buying the loan books of sell-side institutions and we are leveraging our experience in the sell-side to serve buy side firms with increasingly sophisticated needs."
Misys Treasury & Capital Markets is the market leading software supplier in the commercial lending space with Misys Loan IQ customers accounting for one third of the world's loans and half of the global traded loan volumes. Misys Treasury & Capital Markets has 17 years of 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.
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For further information please contact
Stephen White
Misys Treasury & Capital Markets
t. +44 (0)20 7757 6134
stephen.white@misys.com
About Misys Plc
Misys plc (FTSE: MSY.L), 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 and capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys is a market leader, serving more than 100,000 physicians in 18,000 practice locations and 600 home care providers. Misys employs around 4,500 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
