SEI's bank loan operational outsourcing package is now using Geneva, Advent Software's portfolio management and fund accounting system, to increase loan processing automation and add independently-sourced data to the process. Advent recently entered into an agreement with Virtus Partners to integrate Geneva with Virtus' bank loan data offering. Through this relationship, SEI clients will gain access to automated loan data feeds from Virtus, which can be electronically posted directly into Geneva via a standard integration tool developed by Advent and Virtus. This in turn can help SEI become more efficient and allows it to utilise straight through processing of loan data within its operations.  

SEI is an early adopter of the Virtus interface into Geneva, and believes this will improve data tracking and facilitate faster portfolio onboarding. Additionally, SEI has engaged NorthPoint Solutions, a consultancy focused on the alternative investment sector, to try and ensure that industry best practices are applied to its processes, controls and output as part of this project.

"With Geneva and its new Virtus interface, we will further automate our bank loan processing capability and gain access to one of the industry's leading sources of bank loan data," said Phil McCabe, senior vice president and solution head, SEI's Investment Manager Services division. "We're very pleased to be one of the first fund outsourcers to take advantage of Advent and Virtus' new relationship, and to deliver such a valuable solution to the market. SEI has an ongoing philosophy of implementing and integrating best-in-class technologies to deliver industry-leading solutions for our clients. Clients will now have access to higher quality data, greater efficiency, and the increased operational risk mitigation that is so critical in today's environment."