Orix USA Corp., a subsidiary of Japanese based international financial services provider, Orix Corp., has selected PAM for Securities, the flagship investment accounting platform from Princeton Financial Systems (PFS).
PFS is a leading provider of investment accounting, compliance, data management and reporting solutions for the global institutional investors.
ORIX will use PAM to automate the investment cycle including importing executed trades, providing an exception based operational environment and posting to the corporate general ledger. PAM will also provide the ability to maintain impaired assets using enhanced OTTI functionality and apply FAS157 Fair Value Pricing to assets.
"We chose PAM after a very detailed pilot phase in which PFS clearly demonstrated to have the superior product and experienced people that made a difference. PAM serves a unique place in the market for groups that own lower tranched CMBS. We look forward to expanding our relationship with Princeton Financial Systems", commented Brad DeLong, Chief Information Officer, at ORIX USA Corp.
Lorne Whitmore, Head of Global Sales at Princeton Financial Systems provided: "We have seen continuing momentum in the market of firms who require the combination of functionality PAM offers as they capture more of the rising opportunities in mortgage-related investment pools and hedging strategies. ORIX is a perfect fit for PFS and PAM. We are happy to welcome them to our client base."