National Bank of Abu Dhabi (NBAD), a UAE-based bank, has selected Misys Loan IQ, commercial lending solution, for its loan operations.
According to the Misys, Misys Loan IQ covers origination, agency servicing, loan trading, accounting, portfolio management, treasury, collateral management, total return swaps, bilateral lending, and reporting. The multi-currency and multi-branch capable solution features a scalable technology and provides coverage for bilateral loans and highly structured syndicated deals. Loan IQ will help NBAD to streamline workflows, increase loan processing efficiencies and reduce turnaround time.
Kevin Hayden, operations director of treasury and capital markets, Middle East and Africa at Misys, said: “The solution proposed by Misys will provide the bank with market-leading functionality that addresses each area of the bank’s requirements from the structured finance team, credit management, risk control, accounting and compliance and portfolio management.
“It will also enable NBAD to capitalise on the unparalleled commercial lending expertise that Misys has gained from working with the top financial institutions worldwide.”
Nigel Carrington, divisional manager of operations at NBAD, said: “We intend to improve efficiency and customer service provided to corporates and financial institutions that participate in NBAD’s syndicated lending. Misys Loan IQ will be a key factor in realising this goal.”