Streamline issuance, servicing and administration for agent banks
Execution and administration of syndicated loans is inefficient and costly, relying on a number of intermediaries, bespoke proprietary solutions, and legacy systems. Most deals are spearheaded by lead agent banks, which bear the liability of KYC, record management, servicing, and payments for lenders and secondary agents. Considerable manpower is required to ensure documentation work is performed correctly, taking time and increasing the risk for human error.
Digital standardization on Codefi across lead agents, lenders, and secondary agents can drastically reduce the risk and manual efforts required to facilitate crucial components of a syndicated loan deal such as KYC, record and document management, servicing, and payments. A blockchain-based digital solution enables data integrity and consistency, security, and reduced cost.