Harmonic Fund Services live with Finastra for loan servicing

Harmonic clients can now service complex syndicated and bilateral loans with Fusion Loan IQ

London and New York – 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.”

WANT TO BUILD A FINANCIAL EMPIRE?

Subscribe to the Global Banking & Finance Review Newsletter for FREE
Get Access to Exclusive Reports to Save Time & Money

By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
All emails include an unsubscribe link. You may opt-out at any time. See our privacy policy.