SS&C Exceeds 100 Clients on Precision LM Loan Servicing Platform Innovation drives strong momentum with global lenders and servicers

Rhea-AI Summary

SS&C Technologies Holdings has surpassed 100 clients using its Precision LM™ software for lending operations, adding 20 new clients in the past year. This growth aligns with increased private credit lending activities among banks and non-bank lenders. The software enhances efficiency by addressing challenges like document standardization and regulatory requirements. Recent enhancements include a mobile-friendly platform, multi-currency functionality, and AI-driven management features. The company aims to expand its capabilities to meet evolving market demands.

Positive

• Gained over 100 clients for Precision LM, reflecting strong adoption.
• Added 20 new clients in the last 12 months, indicating growth.
• Enhancements improve software functionality, addressing industry needs.

Negative

• None.

WINDSOR, Conn., Aug. 24, 2021 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that it has surpassed 100 clients relying on the company's Precision LM™ software to support their lending operations. The growth comes as banks and non-bank lenders have increased their investment portfolios' private credit lending activities and exposure to commercial and residential loans. Precision LM added 20 new clients in the last 12 months.

Precision LM delivers the scalable technology designed to deal with challenges of private credit, including non-standardized document and data collection, unique accounting and regulatory reporting requirements and rigorous counterparty credit reviews. The platform streamlines mission-critical functions such as payment processing, money movement, bank reconciliations, investor reporting, construction loan servicing, asset servicing and insurance compliance. Lenders, insurers, REITs and debt funds can use flexible deployment models, with fully outsourced or co-sourced functions provided by SS&C.

"As our loan portfolio growth continues, we needed a robust technology platform to add automation and efficiency to allow our business to scale," said Carl Brown, Vice President of Investments at MCAN Mortgage Corporation. "SS&C exceeded our expectations with their extensive experience supporting the complex requirements of Canadian lenders and investors. In addition, they provided immediate value to MCAN by implementing Precision LM software on time and on budget."

"Precision LM supports the full lifecycle management of a broad range of complex loan products, participation types and investor structures, including origination, servicing, accounting and reporting," said Stan Szczepanik, Vice President at SS&C Technologies. "We are pleased to see the momentum of Precision LM across the industry and look forward to continuing to serve lenders in today's complex market."

The industry is responding positively to the latest enhancements to Precision LM, which include:

• A new web and mobile-friendly origination platform for pipeline management;
• Deal sizing and loan request tracking;
• Enhanced agency/multi-family servicing, accounting and reporting capabilities;
• Expanded multi-currency functionality;
• Enhanced reconciliation, wire processing and AI-driven workflow management and document processing functionality.

Learn more about Precision LM here.

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 Windsor, Connecticut, and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology

Additional information about SS&C (Nasdaq:SSNC)
is available at www.ssctech.com.
Follow SS&C on Twitter, Linkedin and Facebook.

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SOURCE SS&C

FAQ

What recent milestone has SSNC achieved with Precision LM software?

SSNC has surpassed 100 clients utilizing its Precision LM software for lending operations.

How many new clients did SSNC add for Precision LM in the last year?

SSNC added 20 new clients in the past year for its Precision LM software.

What enhancements were made to the Precision LM platform?

Recent enhancements include a web and mobile-friendly origination platform, multi-currency functionality, and AI-driven workflow management.

When was the press release about SSNC's Precision LM milestone published?

The press release was published on August 24, 2021.