PNC FIG Advisory, part of PNC Capital Markets announced an expansion to its client offerings through the introduction of PNC Asset Exchange, an online loan resource and marketplace for financial institutions. PNC Asset Exchange is powered by Community Capital Technology Inc.'s ("Community Capital") loan marketplace and business intelligence platform and will provide PNC's financial institution clients with a more efficient, effective way to optimize their loan portfolios.
PNC Asset Exchange will enable clients to more easily place and source loans in the secondary markets, as well as find new credit opportunities. Unlike other loan trading platforms, the new marketplace offers customized advice from PNC FIG Advisory's team of seasoned traders to help customers experience greater success. Whether the client is a seller looking to manage asset concentrations and liquidity, or a loan buyer seeking to diversify asset classes or enhance yield, the digital community of vetted financial institution members and loan opportunities provides a seamless solution for managing balance sheet risks and returns. For all activity types, the institution's identity can remain anonymous until a nonbinding bid is accepted and the due diligence process begins.
"The introduction of PNC Asset Exchange reflects our commitment to expanding our capital markets capabilities and investing in solutions our clients need to meet their evolving strategic needs," said Charlotte McLaughlin, president and CEO of PNC Capital Markets. "Leveraging Community Capital's online marketplace and PNC's trusted advisory services, we've coupled efficiency with expertise to bring a cutting-edge solution to the market."
PNC Asset Exchange provides member institutions the tools and information to quickly find and connect with nationwide proprietary deal flow and counterparties, as well as receive customized transaction level guidance to optimize results. The platform also includes the ability to create customized preferences that automatically identify and match members to relevant transactions, ensuring high-quality connections on deal opportunities and counterparties.
"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," said Brian DeRespiris, COO of PNC Capital Markets and head of FIG Advisory and Institutional Fixed Income Sales. "By acting on timely and strategic recommendations, our clients can more effectively achieve their growth and liquidity objectives."
"We are energized by the opportunity to work with the innovative team at PNC FIG Advisory in delivering a market-defining technology and service solution," said Garrett Smith, CEO and founder of Community Capital. "Our company's mission is to drive greater efficiency and liquidity across the loan markets, and offer our existing network of banks, credit unions, asset managers and loan originators frontline access to an even larger ecosystem of sourcing and distribution partners."
PNC FIG Advisory is a marketing name of PNC Capital Markets LLC, a FINRA registered broker-dealer, that offers a comprehensive suite of strategic, customized solutions to community banks and thrifts nationwide, including balance sheet management, strategic planning, investment banking and capital markets services. PNC FIG Advisory's issuance platform and broad distribution network seeks to allow banks of all sizes to access the capital markets.