SEI today announced that it is improving its bank loan operational outsourcing solution by using new technologies intended to increase loan processing automation and incorporate independently-sourced data. Specifically SEI will use Geneva, Advent Software's portfolio management and fund accounting solution, which was recently integrated with Virtus Partners' bank loan data offering. Through this relationship, SEI clients will gain access to automated loan data feeds from Virtus that can be electronically posted directly into Geneva. This should help SEI provide straight-through processing of loan data within its operations.
SEI has also engaged NorthPoint Solutions, a business consultancy focused on the alternative investment sector, to ensure that industry best practices are applied to its processes, controls and output as part of this enhancement. Also as part of the solution enhancement, SEI is offering a specialized set of reports that enable clients to gain bank loan-specific details and also, through integration with other asset classes, a consolidated portfolio view across all holdings. At this time, SEI says it is setting up a multi-billion dollar beta client onto the platform.