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TFC Launches Truist Merchant Engage, Rides on Payment Innovation
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Key Takeaways
TFC launches Truist Merchant Engage to help SMBs streamline operations and drive business growth.
The platform offers real-time dashboards, onboarding tools and insights for smarter decision-making.
TFC aims to gain share in the $40B merchant acquiring market and grow recurring non-interest income.
Truist Financial (TFC - Free Report) has introduced Truist Merchant Engage, an integrated merchant services platform aimed at helping small and mid-sized businesses (SMBs) simplify their operations, access real-time insights and grow confidently.
This launch marks a notable expansion of TFC’s payments product suite, enabling greater revenue diversification and client base growth.
Given that SMBs represent 99% of U.S. businesses, Truist’s ability to capture even a modest share of the $40 billion merchant acquiring market through the integrated, tech-enabled platform positions it well for substantial and recurring non-interest income growth.
Details of the Truist Merchant Engage Platform
Truist Merchant Engage offers a more simplified approach to serve business clients by combining core financial services and merchant solutions into a seamless, user-friendly digital platform. It includes real-time dashboards, dynamic onboarding, product discovery and self-service tools that enhance operational efficiency and unlock insights.
This aligns with Truist’s ongoing investments to advance innovative payments technology customized to evolving client demands, aiming to solidify its position as a leader in digital financial services. Launched in late June and set to continue through early 2026, the rollout represents a key move in the company’s strategy to modernize business banking with integrated, data-driven solutions.
Chris Ward, head of Enterprise Payments at Truist, stated, “Truist Merchant Engage is more than a product — it's a reflection of our purpose-driven commitment to lead the industry with integrated solutions that help businesses thrive. By unifying business banking and merchant services into one seamless experience, we're enabling SMBs to operate more efficiently, make data-driven decisions and grow with confidence.”
This April, Truist announced the successful completion of the initial testing phase of an innovative alias-based bill payment solution that allows businesses to offer faster, simpler, more secure and cost-effective bill payments.
TFC’s Price Performance & Zacks Rank
Shares of TFC have risen 15.6% in the past year, underperforming the industry’s growth of 25.9%.
Last month, Goldman Sachs (GS - Free Report) launched GS AI Assistant firmwide, a tool driven by generative AI, according to an internal memo seen by Reuters.
The GS AI assistant will help Goldman employees in "summarizing complex documents and drafting initial content to perform data analysis."
Similarly, HSBC UK Private Banking, a subsidiary of HSBC Holdings PLC (HSBC - Free Report) , has adopted the Addepar platform, which is particularly designed for wealth managers. This move comes after its adoption in the U.S. Private Bank, with plans for rollouts in the Channel Islands and Luxembourg later in the year.
HSBC UK Private Banking provides services to domestic and global ultra and high net worth clients alongside family offices.
The Addepar platform offers a superior client reporting experience, handling complex aspects such as alternative investments and account aggregation. It allows relationship managers and investment advisers to smoothly deliver customized, comprehensive performance reports and investment insights.
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TFC Launches Truist Merchant Engage, Rides on Payment Innovation
Key Takeaways
Truist Financial (TFC - Free Report) has introduced Truist Merchant Engage, an integrated merchant services platform aimed at helping small and mid-sized businesses (SMBs) simplify their operations, access real-time insights and grow confidently.
This launch marks a notable expansion of TFC’s payments product suite, enabling greater revenue diversification and client base growth.
Given that SMBs represent 99% of U.S. businesses, Truist’s ability to capture even a modest share of the $40 billion merchant acquiring market through the integrated, tech-enabled platform positions it well for substantial and recurring non-interest income growth.
Details of the Truist Merchant Engage Platform
Truist Merchant Engage offers a more simplified approach to serve business clients by combining core financial services and merchant solutions into a seamless, user-friendly digital platform. It includes real-time dashboards, dynamic onboarding, product discovery and self-service tools that enhance operational efficiency and unlock insights.
This aligns with Truist’s ongoing investments to advance innovative payments technology customized to evolving client demands, aiming to solidify its position as a leader in digital financial services. Launched in late June and set to continue through early 2026, the rollout represents a key move in the company’s strategy to modernize business banking with integrated, data-driven solutions.
Chris Ward, head of Enterprise Payments at Truist, stated, “Truist Merchant Engage is more than a product — it's a reflection of our purpose-driven commitment to lead the industry with integrated solutions that help businesses thrive. By unifying business banking and merchant services into one seamless experience, we're enabling SMBs to operate more efficiently, make data-driven decisions and grow with confidence.”
This April, Truist announced the successful completion of the initial testing phase of an innovative alias-based bill payment solution that allows businesses to offer faster, simpler, more secure and cost-effective bill payments.
TFC’s Price Performance & Zacks Rank
Shares of TFC have risen 15.6% in the past year, underperforming the industry’s growth of 25.9%.
Image Source: Zacks Investment Research
Currently, Truist carries a Zacks Rank of 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Product Expansion Efforts by Other Finance Firms
Last month, Goldman Sachs (GS - Free Report) launched GS AI Assistant firmwide, a tool driven by generative AI, according to an internal memo seen by Reuters.
The GS AI assistant will help Goldman employees in "summarizing complex documents and drafting initial content to perform data analysis."
Similarly, HSBC UK Private Banking, a subsidiary of HSBC Holdings PLC (HSBC - Free Report) , has adopted the Addepar platform, which is particularly designed for wealth managers. This move comes after its adoption in the U.S. Private Bank, with plans for rollouts in the Channel Islands and Luxembourg later in the year.
HSBC UK Private Banking provides services to domestic and global ultra and high net worth clients alongside family offices.
The Addepar platform offers a superior client reporting experience, handling complex aspects such as alternative investments and account aggregation. It allows relationship managers and investment advisers to smoothly deliver customized, comprehensive performance reports and investment insights.