Wells Fargo Foothill to implement Fidelity ACBS loan syndication system
18 October 2004 | 1149 views | 0
Source: Fidelity Information Services
Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services division today announced that Wells Fargo Foothill has implemented the ACBS products SyndTrak and SyndTrak Online to manage their loan syndications business.
Wells Fargo Foothill, part of Wells Fargo & Company (NYSE: WFC), provides senior secured financing from $10 million to $500 million to middle market companies across the United States and Canada. Over the past twelve months, the Wells Fargo Foothill Loan Sales team has syndicated more than 50 transactions representing in excess of $5 billion in credit lines.
Wells Fargo Foothill will use the integrated SyndTrak and SyndTrak Online product suite to manage their syndication process as well as distribute confidential transaction documentation to their investors via a secure Internet site. As a result of using these products, Wells Fargo Foothill will benefit from valuable market intelligence on their transactions and investors as well as reduced administrative time and costs for each transaction. Tricia McLoughlin, a Managing Director of Loan Sales & Syndications for Wells Fargo Foothill, said, "SyndTrak and SyndTrak Online will significantly enhance our ability to leverage business intelligence and provide better service to our customers."
Richard Levy, President of the ACBS division of Fidelity Information Services, said, "We are pleased to be able to add Wells Fargo Foothill to the ACBS client list. This further demonstrates our ability to provide value added products to our customers in all segments of the syndicated loan market."