JP Morgan’s goal of STP in loans materializes on Versana’s platform
The accomplishment highlights the budding digitization of private credit, though it’s still a long road ahead.
Spend any amount of time discussing the loan market with those who have spent more than a decade inside it, and they are likely to highlight its lack of modernization. For a market that saw US institutional loan issuance rise to $307 billion in the first quarter of 2024—more than quadrupling the $72 billion issued in Q1 of 2023—the technology powering those workflows is minimal compared to other markets, as fax and email have remained king in relaying important information.
But those dark days
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