Commercial Lending On The Rise, According To the Fed

UK-based core banking systems vendor Misysannounced this week that it acquired Custom Credit Systems (CCS), a US-based commercial loan origination and workflow management software company.

With the move, Misys said that it can now support the full lending workflow from origination, credit analysis, and document generation in the front office. Additionally, Misys will be able to service and conduct accounting in the back office, covering syndicated and high volume commercial lending.

According to a Misys press release, CCS’s solution is complementary to its FusionBanking Loan IQ. Additionally, full support for commercial, agricultural, real estate, asset-based and small business lending is now available with the acquisition.

CCS’s CEO Brian Shaw will continue on as the head of the combined business, while CCS’s management team and staff will integrate into Misys.

“The timing is perfect, since the next two years could see up to 90 percent of banks integrating their credit and loan origination systems with servicing,” Shaw said. “As lenders transform their businesses, the combined offering of Misys and CCS will be a winning formula.”