Huntington Bancshares announced today it expects to double its technology investment by the end of 2023.

The $178.8 billion bank’s technology equipment spend in Q2 increased 17% year over year to $61 million, down 23% sequentially, according to today’s earnings presentation.

Additional resources — including two acquisitions for the Columbus, Ohio-based bank’s consumer and investment divisions — were also added to expand the bank’s development teams in Q2 “to drive continued innovation across every major business unit,” according to the presentation.

Huntington completed the acquisition of middle market investment bank and advisory firm Capstone Partners in June, and digital payments fintech Torana, now Huntington ChoicePay, in May, Chief Executive Steve Steinour said during today’s earnings call.

The bank’s latest acquisitions follow its closing of TCF Bank just over a year ago, Steinour said, noting, “We delivered the cost synergies [of TCF] earlier than guided … The pace of digital investments has doubled from the prior run rate, accelerating our digital initiatives,” he added.

Meanwhile, the bank’s Q2 digital engagement grew as average monthly active digital users increased 37% YoY to 3.3 million, average monthly active mobile users increased 43% to 2.48 million and mobile digital logins grew 48% to 161.5 million, according to the presentation.

Looking ahead, Huntington plans to further enhance its digital capabilities, introduce new digital tools and expand market share by emphasizing online and technology development, according to today’s earnings presentation.

[stock_market_widget type=”inline” template=”generic” assets=”HBAN” markup=”{name} ({symbol}) is trading at {price} ({change_pct}) as of{last_update}” display_currency_symbol=”true” api=”yf”]

Bank Automation Summit Fall, taking place Sept. 19-20 in Seattle, is a crucial event on automation and automation technology in banking. Learn more and register for Bank Automation Summit Fall 2022.