F.N.B. Corporation at Forefront of Industry with Launch of Automated Payment Switch Technology
Company Continues to Build Out Comprehensive Capabilities with Latest Feature Designed to Save Time and Drive Customer Primacy
Payment Switch joins FNB's Direct Deposit Switch service to address common hurdles consumers encounter when opening a new account or changing financial institutions. Instead of visiting multiple merchant websites to update payment details, FNB customers can now utilize the automated Payment Switch service to seamlessly update their payment methods for these merchants in near real time. Saving time and effort, they can easily switch to their FNB Debit Card or Checking Account across multiple merchants and service providers — all in one user-friendly platform, all within the FNB Mobile Banking experience.
"Our digital strategy is designed to drive client primacy and increase market share through a uniquely full-service banking experience that starts with a fast, simple onboarding process," said
FNB's current and future customers will be able to take charge of how they pay for services like streaming, food delivery, ride share, car payments, utilities and more, with the merchants accessible through Payment Switch managing about 80 to 90 percent of all total recurring payment volumes nationwide.
Payment Switch and Direct Deposit Switch are delivered through FNB's innovation partnership with Atomic. FNB previously announced it had made a strategic investment to obtain an ownership interest in the fintech firm because of its alignment with FNB's proprietary technology and commitment to innovation.
This most recent announcement demonstrates FNB's continual enhancement of the eStore onboarding process, which enables consumers and small businesses to open more than 40 accounts simultaneously. Now, with the added services, customers can instantly move their direct deposit and recurring ACH transactions to FNB.
To explore an interactive, step-by-step Payment Switch demo, visit the Payment Switch page on fnb-online.com.
Introducing Instant Payments
Payment Switch is one example of FNB's continual investment in its digital technology suite. The Company also recently introduced instant payments capabilities, enabling consumer and commercial clients to now receive funds faster than ever. A form of electronic funds transfer, an instant payment leverages advanced and secure channels that enable users to receive a transaction in under 15 seconds — 24 hours per day, 365 days per year. In the months ahead, FNB also will add the ability for business clients to send their own instant payments.
Continued Investments in Digital Solutions
FNB's electronic payments initiatives advance its omnichannel Clicks-to-Bricks strategy, which is focused on unifying the customer experience across traditional and digital networks. FNB's seamless customer journey revolves around eStore. The proprietary platform enables consumers and businesses to shop for banking solutions, receive data-driven product recommendations, access financial education resources and schedule appointments with FNB experts all in one place. In the weeks and months ahead, customers can expect new capabilities that add digital convenience to traditional channels, including temporary digital debit cards to be issued at account opening before physical cards are delivered.
For FNB's full suite of products, visit fnb-online.com.
About
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network which is led by its largest affiliate,
The common stock of
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