Rhyze Solutions Taps SS&C to Scale Loan Servicing Operation
Friday, February 9, 2024
A new Credit Union Service Organization (CUSO), Rhyze Solutions, LLC, selects SS&C's next-generation technology for its commercial real estate loan servicing operation.
WINDSOR, Conn., Feb. 1, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced Rhyze Solutions, a Credit Union Service Organization (CUSO), has selected SS&C to help manage its growing commercial real estate loan portfolio.
By leveraging Precision LM(TM) loan origination and servicing software with EVOLV(TM), Rhyze is poised to scale its commercial real estate loan origination, servicing, and capital markets operations. Precision LM(TM) will serve as the cornerstone, providing seamless support for pipeline tracking, loan servicing, accounting, asset management, and regulatory reporting. Meanwhile, EVOLV(TM), a dynamic software and services platform, will take the helm in managing the intricate demands of reserving, risk assessment, and credit reporting for all cash-flow-based financial instruments. EVOLV offers three optional components for CECL & Reserving, Credit Analytics and Stress Testing, and Accounting.
"We were impressed by SS&C's technological capabilities, dedicated service team, and industry expertise. SS&C stood out as the clear choice to serve our needs, as we launched the commercial real estate asset class on our capital markets platform," said Cory Schwab, Chief Operating Officer at Rhyze Solutions. "Precision LM and EVOLV are robust and scalable solutions that will support the Rhyze capital markets platform with an efficient workflow. SS&C's commitment to innovation and excellence aligns perfectly with the Rhyze quality standards."
Rhyze Solutions expects the cloud-based systems to complement the growth of their capital markets platform, while maintaining a priority for information security and risk management.
"SS&C is committed to providing innovative software and value-added services to loan servicers and Credit Union Service Organizations," said Kevin Tynan, Managing Director at SS&C Technologies. "This industry is evolving with increasingly complex stakeholder expectations. With our deep domain expertise and superior technology, we are committed to simplifying loan management and CECL requirements for clients."
Learn more about Precision LM here. Learn more about EVOLV here.
About Rhyze Solutions
Rhyze Solutions (www.rhyze.com) is a Credit Union Service Organization (CUSO) headquartered in Wilmington, Delaware, United States. Rhyze Solutions is a capital markets company leveraging loan products, services, and advanced technology to optimize the sources and uses of liquidity within its extensive network of financial institution partners.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world's largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.
Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.
Follow SS&C on X, LinkedIn and Facebook.
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SOURCE SS&C
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