Misys plc (London) and HCL CapitalStream Lending Group (Noida, India), a division of HCL Technologies will partner for a new solution for banks originating commercial loans.
Misys, a global application software and services company, and HCL CapitalStream, which provides straight through processing solutions for lending operations, will integrate HCL's CapitalStream, which is a platform for business and commercial loan origination, into Misys' Loan IQ, a commercial lending solution suite. The companies will target the new solution to institutions with loan origination needs.
Misys will market the new integrated loan origination module under its own brand to complement its existing modules for front office loan syndication and secondary trading, back office loan servicing, compliance monitoring and reporting across front, middle and back office operations. Within the terms of the partnership, Misys and HCL will also grant each other licenses to distribute the other party's product and refer banking customers to each other to ensure optimal service to the wholesale banking sector.