Syndicated loans tech, processes lag other markets. Bank-backed Versana wants to change that

Born from a consortium that includes JP Morgan and Bank of America, Versana aims to bring up-to-date and permissioned data to the syndicated loan market—the first step to a more transparent and faster operating market.

Alex Naboicheck, head of US loan trading at Bank of America (BofA), hasn’t seen much modernization in the syndicated loan market in his more than 10 years at the bank. “If you talk to someone who’s been here as long as I have—or people who’ve been here even longer—the syndicated loan market really has not modernized over that period of time,” he says.

Syndicated loans have seen tremendous growth since the 1990s. After the market collapsed in 2007/8 during the global financial crisis, it

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Brown Brothers Harriman unifies busy suite of AI products

It’s a new world, contend BBH’s Kevin Welch and Josh Fine. After a few years of experimentation that yielded several AI products for the bank and its clients, it was time to put the puzzle pieces together to serve a different way of working post-Covid.

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