Live Oak Ventures Makes a Strategic Investment
Live Oak Ventures, the investment arm of Live Oak Bancshares, Inc., has recently announced its investment in Synply Inc., a cloud technology company focused on improving the loan syndication process for banks. This investment is a reflection of Live Oak's commitment to fostering innovation in the banking sector.
Empowering Banks with the Synply Platform
According to Stephanie Mann, the Chief Strategy Officer at Live Oak Bank, the collaborative and entrepreneurial environment at Live Oak promotes the emergence of promising fintech solutions like Synply. The platform aims to simplify the complexities that banks face when dealing with syndicated loans.
Addressing Industry Pain Points
Corbin Penland, CEO of Synply, brings a wealth of experience from his previous role as managing director of loan syndications at Live Oak Bank. He emphasizes that Synply was developed out of a profound understanding of the challenges faced by banks in the syndication space. The platform allows banks to streamline their workflows, enabling them to focus on building client relationships rather than navigating cumbersome processes.
A Modern Solution
Synply is designed to provide a centralized solution for syndicated lending and portfolio management. By offering a user-friendly interface and robust functionality, it empowers banks to manage the entire loan syndication process, from origination through to servicing—all within a single, efficient platform.
About Live Oak Ventures
Live Oak Ventures is dedicated to investing in fintech-focused companies that enhance the banking industry's capabilities. By targeting innovations that promote open digital solutions, Live Oak Ventures seeks to transform financial services and improve small business banking.
About Synply
As a cloud-based technology firm, Synply is committed to revolutionizing how banks handle loan syndications. By leveraging expertise from seasoned bankers, Synply provides a comprehensive platform that simplifies the complex process of syndication, making it accessible and intuitive for banking institutions.
Contact Information
If you wish to reach out, you can contact Claire Parker, Senior Vice President of Corporate Communications at Live Oak Bank, by phone at 910.597.1592 or via email at claire.parker@liveoak.bank.
Frequently Asked Questions
What is the focus of Live Oak Ventures?
Live Oak Ventures focuses on investing in fintech companies that aim to enhance and innovate the banking industry.
What does the Synply platform offer?
The Synply platform provides tools for banks to streamline the loan syndication and portfolio management process in a user-friendly manner.
Who is Corbin Penland?
Corbin Penland is the CEO of Synply, with extensive previous experience in loan syndications at Live Oak Bank.
How does Synply benefit banks?
Synply helps banks to manage their loan syndication processes more efficiently, allowing them to concentrate on client relationships instead of operational burdens.
How can I get in touch with Live Oak Bank?
You can contact Live Oak Bank's Senior Vice President, Claire Parker, at 910.597.1592 or through email at claire.parker@liveoak.bank.