A bank or financial institution that acts as agent for a group of lenders (known as a syndicate) in the syndication of a loan. In some transactions, the syndication agent has an active role in the syndication process. In many cases, however, the title of syndication agent (as well as other agency titles) is offered as a marketing incentive to encourage a bank to join the syndicate, but the bank awarded the title has no meaningful duties in the syndication process. In these cases, the syndication is typically organized by another institution (an arranger) with which the borrower has a banking relationship.