EXTON, Pa.–(BUSINESS WIRE)–Automated Financial Systems, Inc. (AFS) announced today that Santander Bank, N.A., the U.S. affiliate of Banco Santander, S.A. (NYSE: SAN), has signed on to convert to AFSVision, the state-of-the-art next-generation commercial lending system from AFS.
Since the year 2000, AFS has supported the Bank’s evolution of business strategies, growth goals, and regulatory and reporting needs with our market-leading commercial lending system AFS Level III™. Santander Bank was the first AFSCommerce® client, and AFS has been a key partner to Santander for more than 20 years by supporting the growth and evolution of the Bank’s loan portfolio.
“There is a demonstrated history of stability and scalability for both the system and the company, reinforcing Santander Bank’s decision to make AFSVision its next-generation commercial loan servicing platform,” said Jim Greenwood, Chairman and CEO. “AFS leadership and support for the LIBOR to SOFR transition on both systems is further evidence of our commitment to our clients’ long term success.”
AFSVision is an integrated lending system for all commercial lines of business. Its ability to integrate with and into third-party systems promotes straight-through processing with fully digital and mobile capabilities and provides real-time management of any size commercial lending portfolio–from first customer touch to servicing and reporting. Today, some clients are implementing loan origination first as part of their commercial credit transformation. With AFSVision, they get the distinct advantage of the AFS Post-Approval Workflow (PAW), which includes comprehensive data validation and automated booking via standard, integrated workflows, supporting a seamless, straight-through processing experience. PAW is the latest in AFS innovations to provide industry-relevant solutions.
“AFSVision provides a globally available, unified banking experience, empowering financial institutions with 24/7, digital and mobile, real-time access, allowing banks to better serve their customers,” said John Shain, President, AFS. “With AFSVision, Santander Bank will get enhanced multicurrency and capital market capabilities to empower the Bank’s global brand here in the U.S. and a myriad of process improvements stemming from replacing batch operations with real-time integrations.”
“We saw AFS as the natural choice, given our long-term relationship. AFS has a singular focus on commercial lending and a proven track record of delivering on time and on budget. We look forward to AFS providing us with the agility we need to efficiently enhance client servicing and experience,” said Joe Abruzzo, Head of Commercial Banking, Santander Bank.
AFS is the global leader in providing real-time, straight-through processing commercial lending solutions to the world’s top-tier institutions. Solely dedicated to the financial industry, AFS is uniquely positioned to understand our client’s business and technology objectives, evidenced by our solutions processing more than $2.5 trillion in commercial, CRE and syndicated loans daily. AFS is headquartered in Exton, Pennsylvania, with offices in Vienna, Austria and Brussels, Belgium. Please visit www.afsvision.com.
Santander Bank, N.A. is one of the country’s largest retail and commercial banks and an active provider of capital, treasury management, risk management and international solutions. Santander earns the loyalty of its commercial banking clients by offering individualized services that help them manage their operating needs, maximize their working capital and grow their businesses domestically and internationally. The Bank is a wholly-owned subsidiary of Madrid-based Banco Santander, S.A. (NYSE: SAN) – one of the most respected banking groups in the world with approximately $1.13 trillion in total funds and 146 million customers in the U.S., Europe and Latin America. For more information, please visit www.santanderbank.com/us/commercial.
Rene Baron Coady, AFS
Director of Marketing