Spinning the Rolodex no longer cuts it for archaic loan sales

Singapore

IT HAS been a game of "calling your 10 best friends". A US$3.25-trillion global market makes up the secondary loans space, but it continues to operate in a largely archaic, low-tech environment.

This space is an important one - banks sell off loans to one another to deleverage their balance sheets if the returns on the loans look poor relative to their cost of capital.