WINDSOR, Connecticut., August 24, 2021 / PRNewswire / – SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) announced that the number of customers using Precision LM ™ software to support their lending operations has surpassed 100. The growth is taking place as banks and non-bank lenders increased private lending activities in their investment portfolios and increased the volume of commercial and residential loans. Over the past 12 months, Precision LM has added 20 new customers.
Precision LM provides scalable technology designed to address private lending challenges, including the collection of non-standard documents and data, unique accounting and regulatory reporting requirements, and rigorous counterparty credit checks. The platform streamlines mission-critical functions such as payment processing, cash flow, bank reconciliation, investor reporting, construction loan servicing, asset maintenance, and insurance compliance. Lenders, insurers, REITs, and debt funds can use flexible deployment models with fully outsourced or collaborative functionality provided by SS&C.
“As our loan portfolio continues to grow, we needed a robust technology platform to add automation and efficiency to enable our business to grow,” said Karl Brown, Vice President of Investment at MCAN Mortgage Corporation. “SS&C has exceeded our expectations with its extensive experience in supporting the complex claims of Canadian lenders and investors. In addition, they immediately benefited MCAN by implementing Precision LM software on time and on budget. ”
“Precision LM supports complete lifecycle management for a wide range of complex lending products, participation types and investor structures, including creation, maintenance, accounting and reporting,” said Stan Szczepanik, vice president of SS&C Technologies. “We are delighted to see the dynamic use of Precision LM in the industry and look forward to continuing to serve lenders in today’s challenging marketplace.”
The industry has been positive about the latest improvements to the Precision LM, which include:
- New web and mobile friendly platform for pipeline management;
- Determining the size of transactions and tracking loan requests;
- Advanced agency / multi-family service, accounting and reporting capabilities;
- Advanced multicurrency functionality;
- Enhanced AI-powered approval, wire handling and workflow management and document processing.
Learn more about Precision LM here…
About SS&C Technologies
SS&C is a global provider of services and software for financial services and healthcare. SS&C, founded in 1986, is located in St. Windsor, Connecticut, and has offices all over the world. About 18,000 financial services and healthcare organizations, from the world’s largest companies to small and medium-sized companies, rely on SS&C for expertise, scale and technology.