San Francisco, July 18, 2001 - Advent Software, Inc. (Nasdaq: ADVS) announces that National City Corporation, a financial holding company based in Cleveland, OH, has chosen Advent OfficeTM to further enable its Straight-Through Processing initiatives. National City will implement Advent’s solutions in its wealth management businesses, which are comprised of its Institutional Asset Management, and its Private Investment Advisors areas.
The Advent Office suite of solutions automates the entire spectrum of investment management functions. Because all applications are integrated, scaleable and client-centric, the suite connects and accelerates all of an organization’s investment functions. Implementing Advent Office can help firms strategically address their workflow across their entire organizations, and leverage technology resources among multiple business lines.
“We were focused on finding a single-vendor technology solution that will provide an integrated, full-function, state of the industry asset management capability that can be supported by a central, fully automated infrastructure. Advent will be a significant contributor in preparing us for T+1 settlement compliance while achieving greater operating efficiency, cost control and risk reduction,” said Kyle Schultz, Vice President in Institutional Asset Management of National City. “We were very pleased with the strategic approach that Advent took toward our business needs, and the insight they provided during the selection process.”
“We’re very excited to be working with National City. As a multi-unit bank, it is taking a very strategic approach to implementing technology that will address not just its immediate need for efficiencies, but also will address long-term operational issues that will position them to be fully T+1 compliant,” said Peter Caswell, President and Chief Operating Officer of Advent Software.
National City Corporation is a $91 billion financial holding company headquartered in Cleveland, Ohio. The company operates banks and other financial services subsidiaries principally in Ohio, Michigan, Pennsylvania, Indiana, Kentucky, and Illinois. Principal activities include commercial and retail banking, consumer finance, asset management, mortgage financing and servicing, and item processing. National City can be found on the World Wide Web at http://www.nationalcity.com.
Advent Software, Inc. is the leading provider of Enterprise Investment Management solutions. The company provides a suite of complementary products for the front, middle and back offices of investment management organizations. The company’s common stock is traded on the NASDAQ National Market under the symbol ADVS.
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