PNC selects SunGard asset/liability tool

Pennsylvania-based PNC Financial Services Group (PNC) is set to implement SunGard Trading and Risk Management's BancWare Convergence product for asset/liability and balance-sheet management.

PNC will use BancWare Convergence for total balance sheet management - including market risk management, financial planning and forecasting.

Kathryn Haynor, vice-president and project manager at PNC, said BancWare Convergence offers complex, multi-dimensional analysis and is easy to use. “Its rigorous analytics, with flexible prepayment modelling and valuation models and the equation-building capability, provide us with an in-depth understanding of our interest rate risk, so that we can intelligently manage that risk and hedge accordingly,” she said.

PNC will also use BancWare Insight for data collection, transformation and management. BancWare Insight extracts, transforms, validates and loads raw data from subsidiary accounting systems into the format required to support financial analysis.

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