Veritas Financial Partners and Bayside Business Solutions Announce Partnership
FOR IMMEDIATE RELEASE
Veritas Financial Partners and Bayside Business Solutions Announce Partnership
Boca Raton, FL and Birmingham, Alabama – November 14, 2011 – Veritas Financial Partners and Bayside Business Solutions announced an exclusive partnership through which Veritas will service asset based loans for banks with less than $1 billion in assets using Bayside’s CADENCE suite of products.
“We’re extremely pleased to be able to offer The CADENCE product suite,” explained Veritas co-CEO, Mark Sunshine, “This partnership will provide us with unique capabilities to serve our bank clients seeking to increase their commercial and industrial lending capabilities in co-lending arrangements with us, while having access to state-of-art risk management processes and portfolio reporting.“
Russ Opper, Managing Director and CTO for Bayside Business Solutions, commented, “This partnership allows us to effectively extend the reach of our CADENCE solution into an arena where the economies of individual implementations would be problematic. We are delighted to have partners with the impressive track record of the Veritas management team to address this emerging market.”
Veritas co-CEO Mike Perlman added, “Many banks cannot justify the costs in systems and infrastructure needed to service and monitor business loans safely. Our partnership with Bayside allows us to deliver this capability to them at a reasonable cost that creates higher levels of profitability and lower risk.”
ABOUT VERITAS FINANCIAL PARTNERS
Veritas Financial Partners is a national provider of senior secured and real estate financing solutions to middle market businesses. Veritas loans and solutions are tailored to allow borrowers and clients weather current economic uncertainties and seize market opportunities. Veritas product offerings include senior secured loans, loan sourcing and origination, loan syndications, and business process outsourcing including loan underwriting, servicing and credit administration services.
ABOUT BAYSIDE BUSINESS SOLUTIONS
Bayside Business Solutions is an industry-leading, innovative supplier of portfolio management software to the global commercial lending industry. Bayside has customers throughout North America as well as in Australia, the UK, Europe and Latin America. Its operations are located in Birmingham, Alabama, and include worldwide support capabilities.
