For Immediate Release
Velocity Commercial Capital ‘Goes Live’ on SS&C’s EVOLV Platform
SS&C Primatics' automated loan and securities portfolio accounting platform implemented in 8 weeks for nationwide lender
WINDSOR, CT, November 27, 2018 (PR NEWSWIRE) – SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced that Velocity Commercial Capital, LLC (‘Velocity’) has successfully gone live on EVOLV, SS&C Primatics’ integrated cloud-based risk and finance platform.
Velocity, a direct portfolio lender that actively manages over US $1 billion in commercial real estate loans and securitized assets, implemented EVOLV to transform their financial operations and capitalize on growth opportunities. EVOLV will automate Velocity’s amortization of net deferred fees and costs for their loan and securitization portfolios. As a result, there will be fewer manual processes and subsequent operational risk.
"The speed, scale and flexibility of this deployment proved that SS&C Primatics was the right choice to support our strategic growth plans and improve operational efficiency as a part of the automation initiative," said Mark R. Szczepaniak, Chief Financial Officer, Velocity. “We were very impressed with the level of professionalism and expertise demonstrated by the entire SS&C Primatics team. They operated with a sense of urgency, consistently showed us that they understood our business and were a great partner in automating complex accounting standards for loan and securities portfolios.”
“Time-to-value is a key differentiator for EVOLV. We purposely built EVOLV so financial institutions can cut the time spent on operational tasks and controls, while increasing the capacity for analytics,” said Kwang Sin, Senior Vice President and General Manager, SS&C Primatics. “Velocity joins an impressive list of high-growth institutions that have chosen SS&C Primatics and its robust platform, EVOLV. The success of this implementation within a tight timeframe was a testament to the high level of engagement and commitment from the Velocity team."
About Velocity Commercial Capital, Inc.
Established in 2004, Velocity Commercial Capital is a portfolio lender to real estate investors and small business owners nationwide through its Velocity Mortgage Capital division. Velocity actively manages over $1 Billion in commercial real estate loans and securitized assets.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 13,000 financial services and healthcare organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services.
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