Finastra teams up with HUBX to boost loan syndication process

By Megha Bhattacharya

Finastra today announced that it has teamed up with HUBX with an aim to help corporate lenders during the loan syndication process by reducing manual processes. The development will see the integration of Finastra’s back-office loan software Fusion Loan IQ with HUBX’s digital front-office platform HUBX Arranger. This integration is carried out via Finastra’s open development platform, FusionFabric.cloud and is expected to develop an enhanced end-to-end offering that boosts efficiency and harnesses data insights and automation to ultimately improve customer experience.

Axel Coustere, Co-Founder of HUBX said, “We’re excited to team up with Finastra to help banks and financial institutions tackle this challenge and drive efficiencies into the lending process. HUBX Arranger leverages data and insights to boost customer experience and increase the pace at which corporate banks can execute transactions. Integrated with Finastra’s proven and trusted lending software which automates the back office, we can make a real difference in this space around speed, liquidity and the corporate customer experience.”

HUBX Arranger offers a completely digitized book-running process. It brings lenders and investors together to support all stages of the syndication book-build process in a single solution, allowing banks and financial institutions to retain full control of their proprietary data and branding.

Recently, Finastra announced the integration of its Fusion Trade Innovation and Enigio’s trace:original for the development of a solution responsible for managing and handling digital original documents using DLT. The integration will be carried through Finastra’s FusionFabric.cloud open developer platform and is expected to offer benefits including straight-through processing and machine readability for faster turnaround times and shorter servicing lead times.

Robert Downs, Global Head of Corporate & Syndicated Lending at Finastra said, “The introduction of the HUBX Arranger solution as part of our lending suite brings a digital front-to-back solution to market, built on modern technology. Banks can safely kick start their digital transformation journey with Fusion Loan IQ and HUBX Arranger to make efficiency gains and put the corporate customer at the heart of lending. The use of open APIs and Finastra’s FusionFabric.cloud, championed by both our companies, delivers an open and collaborative approach to innovation.”