IntraLinks Holdings, Inc. (NYSE: IL), a leading, global provider of inter-enterprise collaboration services, and Misys, the number one provider of financial services software, announced today an exclusive strategic partnership arrangement.
The alliance is designed to better service participants in this $3.9 trillion dollar syndicated loan market by offering end-to-end process solutions that mitigate legal and operational risk and increase operational effectiveness.
Under the partnership arrangement, IntraLinks and Misys will significantly expand efforts in supporting the straight-through-processing of information that is critical to the lending process. As a first step, the two companies will be launching a major upgrade to the Lenderbridge connector that currently automates the provisioning of lender access to IntraLinks' virtual deal rooms directly from within Misys Loan IQ™. The upgrade embraces market standards in lender (counterparty) identifiers and enables the real time synchronization of fund-level entities by providing administrative agents with the ability to fully represent their legal lenders of record for each deal conducted on IntraLinks' platform. This upgrade will serve as a foundation for the launch of additional loan process solutions including the complicated process of administering amendment voting.
"Amendment voting is one of the remaining mostly manual processes in the syndicated loan market," said Ellen Hefferan, Vice President of Operations at the Loan Syndications and Trading Association. "Solutions that can streamline this process and reduce operational risk are critical to the future growth of the market."
In addition, under the arrangement, IntraLinks will offer an interface to Misys Loan IQ™ that includes a new front-office deal management capability that is intended to provide best-in-class joint book running, pipeline reporting, and customer relationship management tools. By combining these robust, front-to-back-office solutions into one fully integrated, next-generation syndicated lending solution, Misys and IntraLinks will be well-positioned to deliver new and differentiated solutions to the syndicated loan market.
"This new partnership arrangement reinforces our existing relationship with IntraLinks and will enable us to offer our joint clients substantially more capabilities and straight-through-processing," said Ken Katz, Senior Loan IQ Solutions Manager at Misys. "We look forward to working with IntraLinks on the new initiatives, which will transform the way information is managed in the syndicated loan market."
"The alliance will provide a superior client experience and unmatched product leadership in syndicated lending," said Rainer Gawlick, Chief Marketing Officer at IntraLinks. "This partnership is another demonstration of IntraLinks' commitment to serving the loan market and the broader debt capital markets. We view this partnership as a key element of providing a dominant end-to-end solution in the syndicated loan space for years to come.