Swedish Export Credit Corporation picks FIS for loan origination
The Swedish Export Credit Corporation (SEK) has picked FIS and its Commercial Loan Origination (CLO) and Ambit Optimist systems.
The government of Sweden owns and operates SEK. It provides medium- and long-term export credits.
The Swedish Ministry of Finance has charged SEK with ensuring access to sustainable credit alternatives.
According to FIS, the credit firm wanted to integrate disparate loan origination systems and processes into “a single, modern platform”.
Both Ambit and CLO are part of the FIS Commercial Lending suite of systems. FIS claims both can digitise the “full lifecycle” for credit lending.
Nasser Khodri, senior vice president of sell-side capital markets at FIS, says digitisation of the lending process “can provide a competitive edge”.
“The commercial loan origination process is changing quickly, and FIS is committed to helping our clients stay ahead of the changes and be successful.”
The Swedish central government reported a deficit of $4.8 billion in March 2020, according to the country’s debt office.
Net lending to government organisations is £3 billion higher in the country due to complications surrounding the coronavirus pandemic.