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 has 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."
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