Automated Financial Systems, a long-established provider of commercial loan servicing and loan lifecycle management technology for financial institutions, has been acquired by private equity firm OceanSound Partners in a deal aimed at accelerating product innovation and expanding capabilities for banks and other lenders.
The transaction is expected to support increased investment in product development, sales, and customer support as AFS continues to serve community banks, regional banks, and national financial institutions. As part of the deal, Edward Jenkins has joined the company as chief executive officer.
Founded in 1970 and headquartered in Exton, Pennsylvania, AFS provides technology solutions that help financial institutions manage complex commercial lending portfolios. Its flagship platform, AFSVision, serves as a system of record for a broad range of commercial lending activities, including commercial and industrial loans, capital markets and syndications, commercial real estate, small business administration loans, agriculture lending, and other portfolio facilities. The platform is designed to replace fragmented legacy systems, reduce operational risk, and improve efficiency across lending operations.
Jenkins brings experience leading enterprise software businesses in regulated industries. Prior to joining AFS, he served as chief operating officer and chief product officer at Veriforce, a provider of supply chain risk management software. In his new role, Jenkins is expected to guide the company’s product roadmap, enhance customer outcomes, and invest in talent and infrastructure to support long-term growth.
OceanSound Partners, a New York-based private equity firm, focuses on control investments in technology and technology-enabled services companies operating in aerospace, defense, government, and other highly regulated markets. The firm said the acquisition reflects growing demand among financial institutions for modern, mission-critical technology platforms that can support increasingly complex lending operations and regulatory requirements.
Legal and financial advisors on the transaction included Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor to OceanSound, while Troutman served as legal advisor and Houlihan Lokey acted as exclusive financial advisor to AFS.
KEY QUOTES
“I am honored to join AFS at such an important moment in the Company’s evolution. For over 50 years, AFS has built an exceptional reputation for reliability, deep functionality, and customer partnership. Banks depend on AFSVision as their system of record for billions of dollars in commercial loans. That’s a tremendous responsibility and a testament to what this team has built. With OceanSound’s support and expertise in regulated technology markets, we’re going to accelerate our investment in product innovation, expand our engineering and customer success capabilities, and deliver the modern technology our customers need to compete and grow.”
Edward Jenkins, Chief Executive Officer, Automated Financial Systems
“The AFS team has built a mission-critical platform that banks trust with their most complex lending operations. The next chapter is about taking that foundation and accelerating the innovation our customers are demanding, particularly around interconnectivity, real-time insights, and modern infrastructure. That requires investment, talent, and focus. We’re excited to partner with Edward and the AFS team to make those investments and deliver on that vision.”
Ted Coons, President and Co-Founder, OceanSound Partners
“AFS has established itself as the gold standard for commercial loan servicing technology, enabling banks to manage their most complex lending activities with precision and scale. As financial institutions modernize their technology infrastructure, the need for mission-critical, best-of-breed platforms like AFSVision has never been greater. We look forward to supporting the team as they enhance the platform and expand their capabilities to serve an evolving market.”
Sam Todd, Principal, OceanSound Partners
