PNC automates payments processes for corporate clients

PNC Treasury Management is automating its payments process for corporate clients through API integrations. Through an integration with bank API and cash management platform Trovata , the $556 billion PNC Bank 's business clients will be able to send payments and transfer money through automated clearing house, wire and real-time payments (RTP) networks without third-party involvement, according to a Trovata release. [caption id="attachment_220088" align="alignright" width="300"] Photo by Bloomberg Mercury [/caption] “Many of our clients have expressed the desire to further automate and optimize their payments process, including integrating our payments offerings, such as RTP,” Howard Forman , senior vice president and head of digital channels for PNC Treasury Management, told Bank Automation News . “This new integration with Trovata does just that with a seamless, embedded banking experience.” To integrate, Trovata’s API-based payment platform and PNC’s PINACLE Connect APIs combined “to offer an end-to-end money movement experience for PNC’s commercial and corporate banking clients,” Brett Turner , founder and chief executive of Trovata, told BAN . Trovata clients, too, can benefit from the integration, Turner said, noting that they can use PNC’s APIs for onboarding and be up and running in a matter of weeks instead of months. The payments offering builds on the pair’s integration of PINACLE Connect for transactions and account balances on the Trovata platform, Forman told BAN . “Bringing this same efficiency to payments was a natural next step,” he said. Automated finance Trovata automates manual tasks for financial institutions, including collecting bank files, normalizing data and creating analysis in spreadsheets, Turner told BAN . The tech provider works with several financial institutions, including JPMorgan Asset Management and cybersecurity fintech CrowdStrike . At JPMorgan, Trovata automates the process of determining liquidity needs and identifying idle cash, saving the bank more than 50 hours per month in manual process, Turner previously told BAN . CrowdStrike was also spending more than 40 hours per month on manual processes before selecting Trovata, he said.

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PNC automates payments processes for corporate clients

Bank integrated with Trovata for embedded banking experience

Private equity firm GTCR buys majority stake valuing Worldpay at $18.5B

UiPath tapping AI to process unstructured loan data

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