Rhyze Solutions Taps SS&C to Scale Loan Servicing Operation
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Insights
The strategic partnership between Rhyze Solutions and SS&C Technologies signifies a pivotal development in the commercial real estate loan servicing sector. The adoption of advanced technologies such as Precision LM™ and EVOLV™ by Rhyze Solutions is poised to enhance their operational efficiency in managing a growing loan portfolio. This move is indicative of a broader industry trend towards digital transformation, which is driven by the need for more efficient workflows and comprehensive risk management in the face of expanding capital markets operations.
From a financial perspective, the integration of SS&C's software could lead to cost savings through automation and improved accuracy in regulatory reporting, which is crucial given the stringent compliance landscape. Investors should monitor the performance metrics of Rhyze Solutions post-implementation, such as the speed of loan processing and the accuracy of risk assessments, as these will be critical indicators of the success of this technological upgrade.
This collaboration reflects the increasing demand for sophisticated software solutions in the financial services industry, particularly within the niche of credit unions. The choice of SS&C's technology by Rhyze Solutions may influence market dynamics by setting a benchmark for operational excellence in loan servicing. Competitors may feel pressured to seek similar technological enhancements to remain competitive, potentially leading to increased market activity and investment in fintech solutions.
Additionally, the emphasis on cloud-based systems aligns with the sector's shift towards secure and scalable IT infrastructure. This trend is likely to continue as organizations prioritize data security and risk management, especially in light of recent high-profile cyber-attacks on financial institutions.
The mention of information security within the announcement underscores the critical role cybersecurity plays in the financial sector's adoption of cloud technologies. Rhyze Solutions' focus on maintaining high standards of information security while scaling their operations is a response to the heightened risks associated with data breaches and cyber threats. The effectiveness of SS&C's systems in safeguarding sensitive financial data against emerging threats will be a key factor in the success of this partnership and could serve as a case study for risk management in cloud-based financial operations.
Stakeholders should consider the robustness of the cybersecurity measures implemented as part of this technology transition, as the reputational and financial implications of a potential data breach could be significant.
A new Credit Union Service Organization (CUSO), Rhyze Solutions, LLC, selects SS&C's next-generation technology for its commercial real estate loan servicing operation.
By leveraging Precision LM™ loan origination and servicing software with EVOLV™, Rhyze is poised to scale its commercial real estate loan origination, servicing, and capital markets operations. Precision LM™ will serve as the cornerstone, providing seamless support for pipeline tracking, loan servicing, accounting, asset management, and regulatory reporting. Meanwhile, EVOLV™, a dynamic software and services platform, will take the helm in managing the intricate demands of reserving, risk assessment, and credit reporting for all cash-flow-based financial instruments. EVOLV offers three optional components for CECL & Reserving, Credit Analytics and Stress Testing, and Accounting.
"We were impressed by SS&C's technological capabilities, dedicated service team, and industry expertise. SS&C stood out as the clear choice to serve our needs, as we launched the commercial real estate asset class on our capital markets platform," said Cory Schwab, Chief Operating Officer at Rhyze Solutions. "Precision LM and EVOLV are robust and scalable solutions that will support the Rhyze capital markets platform with an efficient workflow. SS&C's commitment to innovation and excellence aligns perfectly with the Rhyze quality standards."
Rhyze Solutions expects the cloud-based systems to complement the growth of their capital markets platform, while maintaining a priority for information security and risk management.
"SS&C is committed to providing innovative software and value-added services to loan servicers and Credit Union Service Organizations," said Kevin Tynan, Managing Director at SS&C Technologies. "This industry is evolving with increasingly complex stakeholder expectations. With our deep domain expertise and superior technology, we are committed to simplifying loan management and CECL requirements for clients."
Learn more about Precision LM here. Learn more about EVOLV here.
About Rhyze Solutions
Rhyze Solutions (www.rhyze.com) is a Credit Union Service Organization (CUSO) headquartered in
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
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SOURCE SS&C
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