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FNC Partners with Brazilian Securities Clearinghouse

""Cetip"":http://www.bcb.gov.br/?CETIPEN, a large private asset clearinghouse based in Brazil, will partner with technology provider ""FNC"":http://www.fncinc.com/. Through the partnership, Oxford, Mississippi-based FNC, Inc. will apply its technology solutions to the Brazilian mortgage industry.


""We at Cetip are excited to be partnered with FNC, the technology leader in the residential lending arena,"" said Roberto Dagnoni, Cetip executive director. ""Brazil will greatly benefit from FNC's solutions that have proven so valuable to U.S. lenders.""


FNC's products will function as a means to provide Brazilian banks with a system to manage the collateral valuation process, help reduce costs, speed up the lending process, and access loan level data.

FNC's technology solutions will become ""an essential infrastructure player for the emerging Brazilian secondary market, by providing information and tools to investors,"" announcement stated.

""The partnership with Cetip places FNC at the very core of the sixth largest economy in the world, and we look forward to even more growth and success,"" said Governor Phil Bryant. ""We're proud that FNC, recognized as one of the world's top 100 financial technology companies, is a Mississippi-born, Mississippi-based company.""

Cetip offers services related to registration, central registration depository, trading and settlement of assets and securities. The company asserts it is Latin America's largest depositary of fixed income securities.

FNC has been offering solutions since the mid-1990s to automate appraisal ordering, tracking, documentation, and review for lender compliance with government regulations.

About Author: Esther Cho


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