Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that the Israel Discount Bank of New York (IDBNY) has chosen its best-in-class lending and leasing solution for credit decision makers: Linedata Capitalstream.
IDBNY, a New York commercial bank with over US$ 9 billion in assets, has chosen Linedata Capitalstream as a cost-effective platform to increase organizational efficiency and institutional portfolio transparency throughout the bank. IDBNY will utilise Linedata Capitalstream to manage its entire commercial lending origination process and ongoing account monitoring, implemented alongside Linedata Hosting to enable the rapid roll-out of the solution.
Linedata Capitalstream is recognized as a market leader in providing leading financial institutions with the tools and services required to automate multiple lines of business across the globe. Additional benefits which influenced the selection process include better workflow management tools and capabilities throughout the underwriting and credit approval process, as well as the ability to access IDBNY’s new commercial loan origination system through Salesforce.com.
Louis Turano, Senior Vice President of IT, IDBNY, said: “By implementing Linedata Capitalstream and Linedata Hosting, we can achieve greater overall portfolio and pipeline transparency and improve the credit approval and loan funding processes. The flexibility and scalability of the platform gives us confidence that Linedata will be able to continue to support us as we look to further expand our services.”
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Steve Nippak, Senior Vice President, Global Sales at Linedata Lending and Leasing in North America, said: “We are very excited about working with IDBNY, which validates our mutual commitment and passion to serve our clients and the industry. This long-term partnership with IDBNY adds to our already extensive list of clients and is testament to the ability of our proven solutions to continue to meet the regulatory and organizational challenges faced by the banking industry today.”