J.P. Morgan achieves landmark straight-through processing
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J.P. Morgan achieves landmark straight-through processing 28 June 2024US Reporter: Jack McRae
Image: stock.adobe.com/Monster Ztudio
J.P. Morgan has achieved straight-through processing (STP) on Versana’s centralised digital data platform.
This marks a first for the syndicated loan market and Versana argues it will “usher in a new era of streamlined digital workflows.”
Cynthia Sachs, Versana's founding CEO, says: "J.P. Morgan's industry leading achievement of straight-through processing is clear evidence of the loan market's digital transformation, materially reducing friction for all participants."
Joseph Ferraiolo, head of Debt Capital Markets operations and merchant bank policy at J.P. Morgan, adds: "Utilising Versana's platform to automate antiquated workflows and achieve straight-through processing on a number of syndicated loan transactions represents a significant step toward true modernisation for the market."
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Image: stock.adobe.com/Monster Ztudio 