Pennsylvania-based PNC Financial Services Group is to implement SunGard Trading and Risk's BancWare Convergence for asset/liability management and data integration.
PNC will use the latest version of the package - which features a new technology platform and analytical engine - for total balance sheet management including market risk management, financial planning and forecasting.
Kathryn Haynor, vice president and project manager at PNC, says: "We liked BancWare Convergence because although it offers complex, multidimensional analysis, it is easy to use, read, and manipulate...We can build in more assumptions, perform more what-if scenarios and spend more time analysing the data rather than trying to retrieve and format it."
PNC has also licensed BancWare Insight for data collection, transformation and management. The module extracts, transforms, validates and loads raw data from subsidiary accounting systems into the format required to support consistent group-wide financial analysis.
"BancWare Insight is critical to our business," says Haynor. "We completely understand that a good data management tool is essential for efficient, streamlined data flow, consistency, confidence and reliability."