Lloyds TSB signs for Fidelity's commercial loans suite
31 May 2007 | 7813 views | 0
Lloyds TSB is to implement the advanced commercial banking system (ACBS) product suite from US based Fidelity National Information Services (FIS) to support its commercial lending operations.
ACBS is an integrated package that streamlines and automates the commercial lending process and includes SyndTrak, LoanTrak, Origination, Servicing and DataMart.
FIS says that these tools manage the life of a loan, covering origination, syndication, servicing, trading, portfolio management, reporting and analysis.
Lloyds will use ACBS to manage its corporate markets unit's loan syndication, distribution and trading activities and lending portfolio.
David Samach, director, wholesale loans, Lloyds TSB, says: "ACBS will enable us to implement servicing efficiencies, eliminate manual processes and strengthen managerial reporting, while enhancing the level of service we provide to clients and investors."
Fidelity claims that 20 of the top 25 global financial institutions, ranked by Tier 1 Capital, use ACBS commercial loan software.
Ian Fitzgerald, head of loan syndications for Lloyds TSB, says the bank was impressed by how well the package was adapted for the European market. "We knew that ACBS SyndTrak and LoanTrak have become market standard for sales and trading in the US, and we are glad to utilise these tools for our distinctive market."