F.N.B. Corporation at Forefront of Industry with Launch of Automated Payment Switch Technology

Core Viewpoint - F.N.B. Corporation has launched the Payment Switch feature, allowing customers to easily transfer their recurring ACH or Debit Card payments to FNB through the FNB Direct Mobile Banking App, enhancing customer engagement and positioning FNB as a primary banking choice for clients [1][4]. Group 1: Payment Switch Feature - The Payment Switch feature enables customers to automatically move their recurring payments to FNB in a few simple steps, streamlining the process of establishing a banking relationship [2][3]. - This service addresses common challenges faced by consumers when switching banks, allowing them to update payment methods across multiple merchants in near real-time, thus saving time and effort [3][4]. - Payment Switch is designed to manage approximately 80 to 90 percent of all total recurring payment volumes nationwide, covering services like streaming, food delivery, and utilities [4]. Group 2: Digital Strategy and Innovations - F.N.B. Corporation's digital strategy aims to enhance client primacy and market share through a comprehensive banking experience, starting with a simplified onboarding process [4]. - The company has made strategic investments in fintech, including a partnership with Atomic, to enhance its digital capabilities and improve customer service [5]. - Recent innovations also include instant payment capabilities, allowing clients to receive funds in under 15 seconds, available 24/7 [7]. Group 3: eStore and Omnichannel Experience - The Payment Switch feature complements FNB's Direct Deposit Switch service, further enhancing the eStore onboarding process, which allows consumers and small businesses to open multiple accounts simultaneously [6]. - FNB's omnichannel Clicks-to-Bricks strategy focuses on unifying customer experiences across digital and traditional banking networks, with the eStore platform providing a range of banking solutions and resources [8]. - Upcoming features will include temporary digital debit cards issued at account opening, enhancing digital convenience for customers [9]. Group 4: Company Overview - F.N.B. Corporation operates in seven states and the District of Columbia, with total assets of $50 billion and approximately 350 banking offices [10]. - The company offers a full range of commercial and consumer banking services, including wealth management solutions through its subsidiary network [11]. - F.N.B. Corporation is publicly traded on the New York Stock Exchange under the symbol "FNB" and is part of the S&P MidCap 400 Index [12].