FIMAC Solutions is one of the leaders in providing risk analytics software for banks, credit unions, thrifts and other financial institutions. The company recently announced that it has created an SaaS (News - Alert) (Software as a Service) application which is called Portfolio Accounting Analytics. The new application is all set to replace the 40-year old industry workhorse The Deats Report. FIMAC Solutions will release the new platform to the marketplace in July 2011.

The Deats Report, which is the current model has been accepted by regulators and independent auditors for over forty years. The Deats Report provides live independent market pricing and embedded cash flows for all debt securities in the institution's fixed income portfolio. The Deats Report was acquired in 2009 by FIMAC Solutions and has provided monthly accounting data to financial institutions and other institutional investors on a service bureau basis. FIMAC Solutions is now introducing a new cloud-based model which will enable bond accounting to be merged with its flagship Risk Analytics ALM Model since both make use of the same instrument level investment data.

In a release, Eric Struble, product manager for FIMACMountain’s Portfolio Accounting Analytics said that, “The SaaS delivery format assures affordable pricing and extreme ease of use for bankers, and like all FIMACMountain products, it comes with FIMAC Solutions’ unparalleled customer service and user support.”

Some of the software capabilities from FIMACMountain Portfolio Accounting Analytics include Automatic tracking of U.S. Government Agency and municipal calls as available, Automatic reviews of municipal and corporate issues for calls, step-ups, etc, Rate shock analysis

Clients generate their own chosen custom reports, Simplified month-end posting and balancing

Electronic data files for tie-ins to FIMACMountain Risk Analytics ALM Model, Complete monthly amortization and accrual results, Automated export capabilities to any General Ledger system, Factors and prices of Pools, CMOs, and Asset-Backed from recognized independent data providers automatically embedded with user without involvement, Independent market values from leading national and international data providers and comprehensive, yet intuitive and very easy to use.

Greg Doner, FIMAC Solutions CEO said that, “FIMACMountain's Portfolio Accounting Analytics is a very exciting upcoming release for us and our clients. This model enables our clients to utilize our FIMACMountain suite of products to reduce their expenses by eliminating the need to hire third parties to provide accounting and portfolio-wide analysis.”