Federal Home Loan Bank of Chicago chooses EVOLV to automate loan and securities portfolio accounting
WINDSOR, Conn., July 17, 2019 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (SSNC), today announced that the Federal Home Loan Bank of Chicago (FHLBank Chicago) has signed a multi-year agreement to use SS&C Primatics' EVOLV platform. FHLBank Chicago is one of a growing number of Federal Home Loan Banks to select EVOLV.
FHLBank Chicago needed a single platform to integrate their accounting processes to operate more efficiently, enhance business decisions and capitalize on growth opportunities in a controlled environment. EVOLV's cutting-edge architecture will provide FHLBank Chicago with a centralized end-to-end accounting process from data validation to disclosures and reporting, reducing manual processes and subsequent operational risk.
"After considering several vendors, we chose SS&C Primatics because of EVOLV's functionality, ease of integration and the team's expertise and dedication," said Roger D. Lundstrom, Chief Financial Officer, Federal Home Loan Bank of Chicago. "EVOLV is a natural fit with our organizational commitment to operational excellence and we look forward to implementing the platform."
"FHLBank Chicago is one of 11 Federal Home Loan Banks dedicated to promoting homeownership. We are proud to partner with FHLBank Chicago and provide them with the technology to reduce the time spent on operational tasks and controls, while increasing the capacity for analytics," said Kwang Sin, Senior Vice President and General Manager, SS&C Primatics.
About Federal Home Loan Bank of Chicago
The mission of the Federal Home Loan of Chicago is to partner with member shareholders in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment in the Bank, and support for community investment activities. The bank is one of 11 Federal Home Loan Banks chartered by the U.S. Congress in 1932 to promote homeownership. Members include banks, thrifts, credit unions, insurance companies, and community development financial institutions.
About SS&C Technologies
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 18,000 financial services and healthcare organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services.
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