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PNC Financial & GTreasury Team Up to Boost Digital Treasury Services

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The PNC Financial Services Group, Inc. (PNC - Free Report) announced its partnership with GTreasury, a global leader in Digital Treasury Solutions. This new collaboration integrates PNC’s embedded banking solution, PINACLE Connect, with GTreasury’s treasury and risk management platform. 

PNC introduced PINACLE in 2021 to remove complexities and address client feedback, particularly regarding technology integration and fraud prevention.

PNC Financial and GTreasury Streamline Treasury Operations

With this expanded partnership, PNC and GTreasury’s mutual clients can make their operations more efficient and streamline processes. The client can also avoid the swiveling practice that generally arises when using multiple partner platforms by integrating key PNC banking services. These services include payment automation (ACH, wire and real-time payments initiation), along with reconciliation through real-time payment status updates, as well as real-time and historical balance and transaction reporting to streamline cash management.

The client onboarding process will be streamlined to reduce implementation time and minimize the technology resources required to integrate PNC’s services with the GTreasury platform.

Similar to PNC, Wells Fargo & Company (WFC - Free Report) and Deutsche Bank (DB - Free Report) are also enhancing their API technologies. WFC expanded its APIs portfolio with the launch of specialized APIs for its Commercial Banking clients in September 2024. This automated setup permits effortless data transfer among trading partners, reducing delays in sending and receiving information. 

In June 2024, DB expanded its collaboration with Bitpanda to offer real-time payment solutions for incoming and outgoing transactions for users in Germany. This API-based account solution will give Bitpanda access to German IBANs, streamlining and improving the user experience while ensuring confidence, speed and efficiency.

PNC Financial’s Management Comments

Howard Forman, executive vice president and head of Digital Channels for PNC Treasury Management, said, “This integration with GTreasury expands our existing, broad portfolio of platform integrations that are delivering the power of our Treasury Management platform within the systems our clients use to run their businesses.’’ 

He further added, “The secure modern, scalable API-based approach helps our clients accomplish many of their financial goals — automating manual processes, reducing risk and optimizing their liquidity position.”

PNC Financial’s Prior Efforts to Enhance Online Platforms

Before partnering with Gtreasury, in September 2024, PNC and Plaid, a fintech company specializing in data transfer networks, entered into a bilateral data access agreement. This agreement intends to help PNC customers across the United States to securely and efficiently share their financial data with their preferred financial applications through Plaid.

In 2022, PNC Bank enhanced its services for the hospitality sector by acquiring Linga, a leading provider of point of sale and payment solutions. Linga's cloud-based restaurant operating system has enabled PNC to enhance its service offerings to hospitality and restaurant industry clients, providing a more comprehensive suite of financial tools tailored to meet the unique needs of these businesses.

Parting Thoughts on PNC Financial

PNC Financial is strengthening its digital and banking solutions through strategic partnerships and acquisitions. These efforts reflect PNC’s commitment to innovation, providing secure and scalable solutions that address evolving client needs.

Such strategic efforts will help the bank to further solidify customer loyalty and attract new clients seeking advanced digital solutions. This could lead to increased transaction volumes and higher revenue streams.

PNC Financial’s Price Performance & Zacks Rank

Over the past six months, shares of PNC have gained 34.7% compared with the industry’s growth of 22.6%.

Zacks Investment Research
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PNC Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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