Harmonic Fund Services Goes Live With Finastra For Loan Servicing

Harmonic Fund Services has gone live with Finastra’s Fusion Loan IQ solution. The independent fund administration and alternative asset fund servicing firm will reportedly leverage Finastra’s platform to provide a new loan administration and agency service to its diverse alternative investment funds client base. While sharing more details about the collaboration, John Wolfe, Director at Harmonic Fund Services, stated:

“Our customers have sophisticated needs, and when it comes to loan admin servicing that is no exception,” said . “With Fusion Loan IQ, we will be able to expand our services to meet the growing lending needs of our fund administration clients. This will be a highly complementary offering to our existing and well established private debt administration and back/middle office support operations.”

Harmonic Fund Services currently provides services and technology to investment funds, including hedge funds, fund of funds, private equity/debt funds, pension funds and family offices. The firm reported it has recognized an untapped opportunity to bring in-demand loan services to its clients and sought a technology partner that could provide a best-of-breed solution. It was also noted that Fusion Loan IQ was selected for its ability to handle complex debt-related transactions and very large syndicated loan deals. Chris Zingo, Managing Director of Americas in Enterprise Markets at Finastra, then added:

“Harmonic Fund Services is demonstrating how products traditionally used by banks can be implemented in other areas of financial services. This approach to technology is bringing a sought-after service to the fund administrator’s end users, whilst expanding Harmonic’s vertical debt servicing platform.”

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