Core Insights - F.N.B. Corp. (FNB) has launched Payment Switch, a service for automatic transfer of recurring ACH and debit card payments via the FNB Direct Mobile Banking App [1][10] Group 1: Payment Switch Service - Payment Switch simplifies customer onboarding and aligns with FNB's strategy to become the primary bank for clients [2] - The service allows near-real-time updates of payments across multiple merchants, covering approximately 80-90% of total recurring payment volumes nationwide [3] - Payment Switch enhances FNB's digital onboarding capabilities, allowing instant transfers of direct deposits and recurring payments, thus reducing account-switching hurdles [4] Group 2: Digital Payment Strategy - FNB is investing in digital payments and implementing an omnichannel Clicks-to-Bricks strategy to provide a seamless experience across physical and digital channels [5] - Recent enhancements include instant payments that enable fund transfers in under 15 seconds, with plans for outgoing instant payments for business clients [5] Group 3: Competitive Landscape - FNB's peers, Hancock Whitney (HWC) and SouthState Corp (SSB), are also focusing on market share growth through acquisitions and strategic expansions [6] - Hancock Whitney's acquisition of Sabal Trust aims to support fee income growth and expand its presence in Florida and Texas [7] - SouthState's acquisition of Independent Bank has significantly increased its total assets to $65.1 billion and enhanced its footprint in rapidly growing U.S. metropolitan areas [8] Group 4: Performance Metrics - Over the past six months, FNB's shares have increased by 26.9%, outperforming the industry's growth of 11.8% [9]