Financial holding company National City Corporation has chosen a suite of solutions from Advent Software for straight-through-processing.
National City Corporation operates banks and other financial services institutions based in Ohio, Michigan, Pennsylvania, Indiana, Kentucky and Illinois. Its activities include commercial and retail banking, consumer finance, asset management and mortgage financing.
It has chosen the Advent Office suite of solutions from US company Advent Software to automate its wealth management businesses which comprise institutional asset management and private investment.
Kyle Schultz, vice-president,institutional asset management, National City, says: "Advent will be a significant contributor in preparing us for T+1 settlement compliance while achieving greater operating efficiency, cost control and risk reduction."
The bank wanted a single-vendor solution which could provide integrated, asset management supported by a central, fully-automated, infrastructure.