HSBC cooperates with VC Trade

Monday 20 September 2021 09:00 CET | News

Germany-based fintech VC Trade and UK-based bank HSBC have announced partnering to digitise syndicated loans. 

HSBC launched a borrower's note platform called Synd-X in 2018, however this platform will no longer be offered, and will instead integrate their offer into VC Trade. According to an HSBC representative, no customer data will be transferred from HSBC to VC Trade. The bank will use the VC Trade platform for future transactions and also check whether certain functionalities of the Synd-X platform can be transferred to VC Trade.

The aim is to be able to map the entire production chain for syndicated loans digitally and in a legally secure manner. In a further expansion stage, even the subsequent administration will be digitally mapped over the entire life cycle of the loan. In the first step, however, the companies will focus on the digital transaction structuring, creation and negotiation of the draft contract and term sheet up to the conclusion of the transaction. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, mobile banking, transactions , fintech
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Germany
This article is part of category

Banking & Fintech

Industry Events