It’s  Time  to  Modernize  the  Syndicated Loan Market

It’s Time to Modernize the Syndicated Loan Market

Versana is an industry-backed fintech bringing transparency, efficiency and velocity to this growing segment of the corporate credit market.

Versana is an industry-backed fintech bringing transparency, efficiency and velocity to this growing segment of the corporate credit market.

 

A One-for-All Solution

Backed by leading global banks, Versana is carefully considering the data, workflows and technologies that exist today to develop innovative solutions that will reduce manual processing, improve data quality and mitigate operational challenges for all market participants.

The Most Credible
and Timely Source of Data

Versana will provide unprecedented transparency and real-time insight into loan-level details and portfolio positions by digitally capturing agent banks’ reference data directly from its source.

A Growing Standard

Versana’s investors are determined to bring meaningful innovation to the loan market and we anticipate broad industry adoption given our early momentum and compelling value proposition.

Expert-Driven Design

Versana’s platform is being designed by seasoned banking and technology professionals from across the loan ecosystem, including key input from heads of trading and operations at leading agent banks and institutional lenders.

A Foundation
for Market Innovation

Versana will deliver the modern foundation that agent banks, institutional lenders, administrators and trustees need to usher in the long-awaited transformation of the industry.
We’re proud to be a leader in transforming the industry’s syndicated loan market. There’s been rapid acceleration in this market, and with Versana, we’ll be able to make loan data available to our clients more efficiently and transparently.

Dan Wilkening,
Chief Administrative Officer,
Commercial Banking and Head of Global Services, JPMorgan Chase

We saw an opportunity to spur innovation in the loan market and joined with other leading agent banks to form Versana. By addressing many of the challenges inherent in the industry, the entire loan community will benefit from Versana.

Alex Naboicheck,
Head of U.S. Leveraged Loan Trading, Bank of America

Credit Suisse is pleased to support Versana and its mission to transform the syndicated loan market through the lifecycle of a loan by bringing innovation and technology to the forefront of the industry.

Jeff Cohen,
Global Head of the Leveraged Finance Group, Credit Suisse

Innovation like Versana’s is critical for enabling growth and longevity. Real-time sharing of information is at the center of today’s society, and enabling syndicated loan infrastructure to operate the same way will be a huge step forward.

Nina Guinchard,
Global Head of Transaction Management, Citi

Versana’s position as an industry-wide collaboration is in the spirit of LSTA’s mission, and we whole-heartedly applaud what Versana is setting out to do. It has been needed for a long time.

Lee Shaiman,
Executive Director, Loan Syndications & Trading Association (LSTA)

    What is Versana?

    Versana is an industry-backed fintech on a mission to make the syndicated loan market better. By digitally capturing agent banks’ reference data directly from its source on a real-time basis, Versana provides unprecedented transparency into loan-level details and portfolio positions, bringing efficiency and velocity to the entire market.

    Why is now the ideal time to modernize the syndicated loan market?

    The syndicated loan market has grown 20% year over year, and with interest rates on the rise, this momentum is expected to accelerate as new players seek this attractive floating rate asset class. Antiquated processes - reliant on manual data entry, emails and even fax – are holding it back.

    What is the scale of these challenges?

    The syndicated loan market is $5 trillion in size, $1.4 trillion of which is traded annually. The asset class includes 40+ banks, hundreds of institutional lenders and thousands of borrowers on a global scale. The most notable challenge is trade settlement taking over 20 days, which causes an untenable amount of liquidity and operational challenges.

    Who will benefit from Versana?

    Over time, all stakeholders in the syndicated loan market will benefit from Versana’s platform, including borrowers, agent banks, institutional lenders, administrators and trustees.

    What impact will Versana have on the syndicated loan market?

    Versana will bring increased transparency, efficiency and velocity to the entire market by providing better access to the market’s most credible source of real-time deal information. This will lead to greater operational efficiencies, improved liquidity and overall market growth.

    Who is behind Versana?

    Versana is being created by seasoned banking and technology professionals across the loan ecosystem, all of whom are passionate about fixing the market’s inefficiencies and operational challenges. Industry veteran Cynthia Sachs is Versana’s founding CEO. Sachs brings more than 25 years of loan market expertise to the company, with prior corporate credit roles at Morgan Stanley, Natixis, Bank of America and Bloomberg.

    When will the Versana platform be launched?

    Versana will go live in the second half of 2022.

    How do we get started?

    It’s easy. Fill out the form below and we’ll happily send you updates, including how to best incorporate Versana into your loan management process.

    Join the Transformation

    If you are interested in becoming a client or partner in helping us usher in a new era for the syndicated loan market, we want to hear from you.
    © 2022 Syndicated Loan Consortium LLC. All Rights Reserved.

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