ComBanc Support Services and UPLEX Global Form a Strategic
Operating Alliance For U.S. Markets
Indianapolis, IN – In order to expose more banks and credit unions to its powerful loan-trading platform, UPLEX Global has partnered with ComBanc Support Services (CBSS) to augment its own marketing resources. Paul J. Giefing, CEO and Founder of UPLEX Global and Don Macaulay, President of ComBanc Support Services jointly announced this move.
“CBSS is a one-stop-shop designed to deliver useful products and services to community-based banks and credit unions,” explained Macaulay. “We feel that UPLEX Global can be very helpful for meeting the normal cyclical demands on bankers to buy or sell loans. Having been a banker for over 30 years, I’ve experienced many liquidity cycles and would have liked a secure, low cost way to access the loan market, to both buy and sell.”
Several improvements have been made to UPLEX over the past year. Besides enhancements to security and efficiency, now Home Mortgages, Auto Loans, Credit Card Paper and even Student Loans can be traded using the same simplified process, whether as whole loans, participations or portfolios. Also, a subscriber type specifically for U.S. credit unions allows credit unions to list and sell their assets to anyone in the market, while limiting their view/access only to assets listed by other credit unions to stay within regulatory guidelines.
“We are very proud of what UPLEX Global now offers,” stated Giefing. “It leverages the latest in technology to make buying and selling assets easy. Using an active, sealed-bid auction system, sellers can entertain numerous offers on a single asset. Members can both list their assets to sell and search to buy assets with no subscription fee. Plus, the platform’s efficiency allows us to charge the lowest transaction fees in the industry.”
“While we are fully aware of UPLEX Global’s value, it can’t help bankers unless they know about it,” added Macaulay. “That’s why we will be doing all we can to get the word out about UPLEX Global in the months to come.” To find out more about UPLEX Global or CBSS visit www.uplexglobal.com or www.combancsupportservices.com