PNC Financial (PNC) Opens Online Loan Room PNC Asset Exchange
The PNC Financial Services Group, Inc. PNC has announced the introduction of PNC Asset Exchange, which is an online loan resource and marketplace for financial institutions. With this, PNC will be expanding its capital market capabilities and investing in solutions to meet clients’ evolving strategic needs.
PNC Asset Exchange is powered by Community Capital, which is a marketplace for loans and a business intelligence platform. This will aid PNC’s financial institution clients to optimize their loan portfolios with greater efficiency and effectiveness.
PNC Asset Exchange is designed to provide the member institutions with tools and information to instantly locate and connect with nationwide proprietary deal flow and counterparties. It will be assisting in receiving customized transaction level guidance that will help optimize results.
The platform will ensure high-quality connections on deal opportunities and counterparties as it has the ability to create customized preferences by identifying and matching members to relevant transactions.
Brian DeRespiris, COO of PNC Capital Markets stated, "PNC Asset Exchange combines great technology, real-time market insights, price discovery, diversified deal flow and counterparties, and experienced transactional support in one streamlined, easy-to-use platform." He also added, "By acting on timely and strategic recommendations, our clients can more effectively achieve their growth and liquidity objectives."
PNC Asset Exchange will enable easier placement and origination of loans in secondary markets. Also, it will assist clients in finding new credit opportunities. Further, the platform will offer customized advice from seasoned traders of PNC FIG Advisory's team.
The platform will enable an institution's identity to remain anonymous for all types of activities until a non-binding bid is accepted and the due diligence process is embarked upon.
These efforts will aid PNC Financials’ organic growth in the upcoming period. Also, with higher interest rates, the company’s net interest income and margins are positioned to grow. However, a rise in expenses, specifically due to investment in such capabilities, is likely to limit bottom-line growth.
Over the past six months, shares of PNC have lost 22.6% compared with a decline of 11.2% of the industry it belongs to.
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PNC currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recently, many finance firms like Interactive Brokers IBKR and Citigroup C have launched new platforms aimed at better serving their customers.
IBKR unveiled a new platform, Securities Lending Dashboard. It aims to provide clients with enhanced tools for assessing short-selling activity and making informed trading decisions.
This innovative platform offers sophisticated investors, including hedge funds, access to an extensive range of securities lending data, empowering them to evaluate investment opportunities more effectively. The platform complements Interactive Brokers' existing Securities Loan Borrow system, a self-service utility for identifying shortable stocks.
Citigroup has launched a platform — CitiDirect Commercial Banking — which offers a single-entry point digital platform to cater to the needs of Citi Commercial Bank clients. This initiative is part of C’s significant strategic investment plan to meet the growing global needs of these clients.
Particularly, CitiDirect Commercial Banking platform brings together the bank’s global products and services into a single digital platform. This provides clients with a comprehensive view of their Citi banking relationship across Cash, Loans, Trade, FX, Servicing and Onboarding.
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