Exclusive online loan marketplace, powered by
Community Capital, will expand client loan market access and
liquidity management
PITTSBURGH, Aug. 16,
2023 /PRNewswire/ -- PNC FIG Advisory, part of PNC
Capital Markets LLC, today 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.
About Community Capital Technology Inc.
Community
Capital is a digital platform for optimizing the management of loan
portfolios. CCT's loan transaction marketplace provides Regional
Banks, Community Banks, Credit Unions, and other non-bank
originators or credit investors, a simpler, more cost effective and
transparent way to buy, sell, source and/or participate loans.
Member firms efficiently find relevant opportunities or partners,
actively manage balance sheet risk, and drive returns, resulting in
better access to capital for their clients and communities. For
further information, visit: www.communityct.com.
About PNC Capital Markets LLC
PNC Capital Markets LLC
is a member of The PNC Financial Services Group, Inc. (NYSE: PNC).
PNC is one of the largest diversified financial services
institutions in the United States,
organized around its customers and communities for strong
relationships and local delivery of retail and business banking
including a full range of lending products; specialized services
for corporations and government entities, including corporate
banking, real estate finance and asset based lending; wealth
management and asset management. For information about PNC, visit
www.pnc.com.
CONTACT:
Christina Figg
(214) 871-1259
christina.figg@pnc.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pnc-capital-markets-launches-pnc-asset-exchange-to-help-financial-institution-clients-optimize-loan-portfolios-301901611.html
SOURCE PNC Capital Markets