Fintech startup ORSNN launches whole-loan trading platform to beta
ORSNN, a fintech startup that builds end-to-end solutions for managing and trading loan portfolios, launched a private beta platform that provides financial institutions with a low-cost, transparent, and automated loan-trading system.
Powered by machine learning and cloud technology, the ORSNN beta platform has three functions:
- Rich analytics: Currently, financial institutions must rely on in-house systems, expensive external software subscriptions, or brokers to obtain analytics. With ORSNN's new automated platform, financial institutions can instantly upload their loan portfolios, carve them up using various criteria, and perform advanced analytics.
- Double-sided marketplace: ORSNN's automated marketplace replaces the traditional broker role, enabling financial institutions to browse or post anonymous offerings, connect with counterparties to transact, and execute streamlined deal flow and communications on the platform.
- Automated diligence: Machine learning accelerates the documentation review and remediation, which is currently a manual and painstaking process executed by the counterparties themselves or third-party services.
Sean Banerjee, CEO and co-founder of ORSNN: "Unlike the equities and Treasurys markets, trading loans is a clunky, old-fashioned business. By utilizing cloud computing and machine learning, the ORSNN team realized the technology exists to digitally transform this trillion-dollar loan market."
Designed by former bankers, traders, and ex-Amazon employees, ORSNN's platform eliminates the need for traders to send countless emails and create individual counterparty reports, while improving the efficiency of reverse inquiries. The platform also provides transparency into the process by facilitating seamless access to liquidity.
Financial institutions interested in utilizing ORSNN's automated trading platform for residential mortgage, consumer automobile, commercial real estate, and member business loans (MBLs) can inquire about gaining access by emailing email@example.com. The platform also supports credit union participation trading, including MBLs.