Source: Fidelity National Financial
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 (Fidelity) division announce that National City Corporation (NYSE: NCC; National City) has licensed Fidelity's Advanced Commercial Banking Systems (ACBS) to support National City's syndicated commercial loan business.
National City is one of the top ten syndication arrangers in the U.S. Middle Market as ranked by Loan Pricing Corp.
National City will deploy ACBS in its Agency Services group to improve the efficiency of processing syndicated transactions and further enhance the level of service provided to clients and investors. National City will implement Deal & Loan Origination (DLO) and Deal & Loan Servicing (DLS), resulting in a streamlined syndications process. In addition, the ACBS DataMart will provide true business intelligence allowing National City to have easy access to information to manage their syndications business. National City is already using ACBS SyndTrak and LoanTrak for front office syndications and trading, respectively.
"The ACBS solution will provide increased efficiencies which will allow us to service our clients and investors more effectively and accommodate portfolio growth with limited increase of resources," said Laura McGrath, Senior Vice President and Manager Agent Services National City. "This improved efficiency will help to strengthen our position as a customer focused lead administrative agent."
"We are very pleased that National City has chosen to expand its relationship with ACBS for the processing of their syndicated portfolio," said Richard Levy, president of Fidelity Information Services, ACBS division. "Based on our ACBS application suite, proven experience and leadership in the syndicated lending market, National City will be well positioned for future growth in its syndicated operations."