Pirum automates loan release process
01 March 2016 London
Image: Shutterstock
Pirum has completed work on its new Loan Release functionality, allowing lending clients to fully automate the release process for their new loan instructions.
Pre-collateralisation of new loans, usually required the day before or on the day the loan is due to settle, is 鈥渕anual and time-consuming鈥�, according to Pirum, leading to long delays between collateral being received and loans being released, and a risk of loans being released in error.
Pirum鈥檚 new Loan Release service works in combination with Exposure and RQV to fully automate the release cycle for new loans.
It calculates the collateral required, once a loan is booked, and automatically compares this with the collateral received, either bilaterally or via triparty accounts, to determine when the loan is collateralised and can be released.
When loans are ready to be released, a message will be sent from Pirum directly to the lender鈥檚 system, triggering the loan to be released for settlement. This calculation is performed continuously throughout the day as both new loan data and updated collateral information is received, 鈥渟ignificantly reducing any delay between collateral being received and loans being marked as collateralised and released鈥�.
Pirum鈥檚 new Loan Release service also reacts to fully customisable criteria to automatically prioritise loan release, and includes manual override.
Pre-collateralisation of new loans, usually required the day before or on the day the loan is due to settle, is 鈥渕anual and time-consuming鈥�, according to Pirum, leading to long delays between collateral being received and loans being released, and a risk of loans being released in error.
Pirum鈥檚 new Loan Release service works in combination with Exposure and RQV to fully automate the release cycle for new loans.
It calculates the collateral required, once a loan is booked, and automatically compares this with the collateral received, either bilaterally or via triparty accounts, to determine when the loan is collateralised and can be released.
When loans are ready to be released, a message will be sent from Pirum directly to the lender鈥檚 system, triggering the loan to be released for settlement. This calculation is performed continuously throughout the day as both new loan data and updated collateral information is received, 鈥渟ignificantly reducing any delay between collateral being received and loans being marked as collateralised and released鈥�.
Pirum鈥檚 new Loan Release service also reacts to fully customisable criteria to automatically prioritise loan release, and includes manual override.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities 麻豆影视传媒 Times
