Automated Financial Systems Acquired by OceanSound

OceanSound Partners has acquired Automated Financial Systems (AFS), a long-established provider of commercial loan servicing and loan lifecycle management technology for financial institutions. The deal is aimed at accelerating product innovation and expanding capabilities for banks and other lenders.

AFS, founded in 1970 and headquartered in Exton, Pennsylvania, offers AFSVision as a system of record for commercial lending activities including commercial and industrial loans, capital markets and syndications, commercial real estate, SBA loans, agriculture lending, and other portfolio facilities. Edward Jenkins has joined as chief executive officer.

OceanSound is a New York-based private equity firm focused on control investments in technology and technology-enabled services companies in highly regulated markets.