PNC Treasury Management Launches Capabilities For Industry-Leading Corporate Banking Platform

PITTSBURGH, Oct. 25, 2021 /PRNewswire/ -- PNC Treasury Management today announced new capabilities that strengthen its industry-leading corporate banking platform, PINACLE^®. The newly introduced features – PINACLE Connect and PINACLE Payee Account Validation – remove complexities and address client feedback, specifically related to technology integration and fraud prevention. 

Through PINACLE Connect, PNC can now seamlessly integrate its treasury management services directly into its clients' existing Enterprise Resource Planning (ERP) systems, providing an embedded banking experience. PNC clients leveraging this new offering can now initiate payments, track payment statuses, and access their account and transaction information all within their ERP, utilizing their existing PINACLE data access controls. PINACLE Connect provides clients with a streamlined interface, keeping treasurers' day-to-day activity in one platform – removing the need to switch between systems – and ultimately, eliminating friction in the customer experience. This embedded banking experience is representative of customers' changing expectations and a broader acceptance of new technologies.

"PNC Bank is committed to providing its clients with an innovative platform of solutions and tools to help them achieve success and keep their businesses running smoothly," said Chris Ward, executive vice president and head of Data, Digital & Innovation for PNC Treasury Management. "We know how critical a streamlined, easy-to-use system is for the efficiency of our clients' business operations, and PINACLE Connect simply bridges the divide between legacy technology systems and our banking platform."

In addition, PINACLE Payee Account Validation provides industry first integrated account validation directly within the PINACLE payment workflow. This new capability helps clients more easily transact by confirming payee details, and most importantly, alerting businesses when there are signs of potential payments fraud, such as supplier email account compromise. Validating a payment's intended beneficiary account is quick and easy, and occurs before the payment instruction is submitted. The results of the validation are near-immediate, clear and informative, and appear alongside the payment so it can be tracked from end-to-end. Ultimately, Payee Account Validation provides clients with confidence as they execute payments and reduces fraud-related losses that can be crippling to their business.

"As the world continues to evolve and our economy shifts toward real-time, immediate transactions, our focus remains not only on delivering faster payment solutions, but also on delivering them safely and securely. We know nothing can disrupt business operations faster than fraud, which is why we've created PINACLE Payee Account Validation, a near real-time integrated account validation solution," added Ward.

PNC Treasury Management offers a platform of innovative, end-to-end technologies and experienced teams that help clients architect and implement a cohesive cash management system for their business. PNC is committed to investing in leading technology and will continue to support its clients as they work to optimize working capital, achieve faster, more secure transactions and drive their business forward. Both PINACLE Connect and PINACLE Payee Account Validation are now available to PNC clients. For more information, please visit www.pnc.com/treasury.

PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACT:

Whitney Wilson
(214) 871-1209
[email protected] 

SOURCE PNC Bank