ING has spun out inhouse technology project Loan Optics to vc trade, a digital lending platform for private placement and promissory note loans.
Loan Optics technology enables all stakeholders in the syndicated loan market to cooperate on one central platform to originate, structure, document and negotiate digitally native loans.
Loan Optic’s functionalities will be integrated into the already existing and still evolving vc trade platform, which currently serves more than 1.000 banks and institutional investors around the globe. As part of the transaction, ING will become a shareholder in vc trade.
Loan Optics is the latest tech startup to be incubated by ING and subsequently spun out as an independent company.
Jeroen Plag, global head of strategy & innovation at ING comments: “After spinning out Stemly Pyctor and recently SparQ from ING, Loan Optics has been another innovation success story for ING. ING incubated Loan Optics leveraging ING’s innovation expertise, deep digital data knowledge and continuous input and feedback from major players in the syndicated loan market who acted as participants in the Loan Optics Working Group. We have found the perfect partner in vc trade to scale the Loan Optics technology to the next stage and to get it implemented much faster across the industry through vc trade’s existing customer base.”
Stefan Fromme, co-founder and managing partner vc trade, adds: “Digital loan negotiation and data creation now have a real chance to become the new market standard, in particular as leveraging on the vc trade client base allows a fast roll-out of the combined product offering. Winning ING as a shareholder in addition underpins the market recognition already gained by vc trade and proves once again that our bank and borrower centric business model fully meets the market´s needs and expectations.”