US financial services firm KeyCorp is installing Misys Wholesale Banking Systems' commercial lending system Loan IQ at its corporate and investment banking business.
KeyBanc Capital Markets will use the platform to support its agency syndication and servicing businesses.
The bank is already using Misys Loan IQ for all corporate syndicated deals. Subsequent phases of the implementation will see Misys Loan IQ integrated further into the company's existing systems to create a single platform that will manage all syndication deals, including real estate.
Amy Carlson, group head of Key's syndicated finance group, says: "We have positioned Misys Loan IQ as a foundation block of our technology and operations infrastructure because it allows us to dramatically transform and automate our processes to reduce operational costs and provide enhanced service to our clients.
Misys acquired the Loan IQ platform when it bought IQ Financial Systems (IQFS), a New York-based provider of commercial lending and capital markets software, in January.