Automated Financial Systems, LLC (AFS), a provider of commercial loan servicing and loan lifecycle management technology, has been acquired by OceanSound Partners, a private equity firm investing in technology and technology-enabled services companies. Edward Jenkins has been appointed Chief Executive Officer to lead AFS’s product innovation and expansion efforts.
Founded in 1970, AFS has served community, regional, and national financial institutions by managing complex commercial lending portfolios. The Company’s platform, AFSVision, enables customers to manage the full lifecycle of complex commercial loans, including commercial and industrial, capital markets/syndications, commercial real estate, small business administration, and agriculture facilities, through a single, real-time system of record. AFS aims to assist US financial institutions in replacing fragmented legacy systems, reducing operational risk, and improving efficiency across their commercial lending operations.
Edward Jenkins joins AFS with experience in leading and scaling enterprise software businesses within highly regulated industries. He previously served as Chief Operating Officer and Chief Product Officer at Veriforce, a provider of supply chain risk management software. As CEO, Jenkins will focus on advancing AFS’s product roadmap, enhancing customer outcomes, and investing in talent and infrastructure for long-term growth.
Jenkins stated, “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. 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.”
Ted Coons, President and Co-Founder at OceanSound Partners, commented, “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.”
Sam Todd, Principal at OceanSound Partners, added, “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.”
Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to OceanSound. Troutman served as legal advisor, and Houlihan Lokey served as exclusive financial advisor to AFS.
