FNB Introduces Direct Deposit Switch Capabilities
Rhea-AI Summary
F.N.B. (NYSE: FNB) has announced the launch of automated direct deposit switch capabilities, enhancing its digital banking platform. The new feature streamlines the account onboarding process by allowing customers to instantly transfer their payroll direct deposits during account opening.
The service is integrated into FNB's eStore® platform, which enables customers to shop for banking solutions and apply for up to 30 different products simultaneously through their Common app. FNB plans to expand functionality to include digital transfer of recurring debit transactions later in 2025, implemented through a partnership with Atomic.
The implementation has shown significant results, with monthly averages for consumer deposit applications increasing by 30% and loan applications rising by 40% since launching the eStore Common app. The service is available for new and existing FNB checking, savings, and money market accounts through Online or Mobile Banking.
Positive
- Launch of automated direct deposit switch capabilities streamlines customer onboarding
- 30% increase in monthly consumer deposit applications
- 40% increase in monthly loan applications
- Partnership with Atomic fintech expanding digital capabilities
- Ability to apply for up to 30 products simultaneously through single application
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, FNB gained 2.29%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Continues to Advance Digital Strategy with Latest Feature Designed to Save Time and Simplify the Bank Onboarding Process
The Direct Deposit Switch service is embedded in FNB's account opening process. By providing the option for customers to move their payroll direct deposit(s) instantaneously with a few simple steps, FNB further streamlines the account onboarding experience and makes it even more convenient for customers to choose FNB as their primary bank.
FNB expects to also enable clients to digitally move their recurring debit transactions to FNB later in 2025. Both services are being launched through a partnership with Atomic, building on FNB's recent investment in the fintech's strategic fundraising initiative.
"FNB's digital strategy is designed to drive client acquisition, engagement and primacy, and it is a major force behind our success gaining share throughout the footprint," said Vincent J. Delie, Jr., Chairman, President and Chief Executive Officer of F.N.B. Corporation and First National Bank. "Our work with Atomic is the latest in an ongoing series of investments we have made in fintech partnerships and proprietary technology that make it easier to start or grow an FNB relationship."
FNB's seamless customer onboarding journey revolves around eStore®. The proprietary platform enables consumers and businesses to shop for banking solutions, receive data-driven product recommendations, access financial education resources, and schedule appointments with FNB experts. Users can put their product selections in their shopping cart and check out to begin their applications — and with FNB's innovative eStore Common application (Common app), they have the added convenience of applying for up to 30 different products simultaneously with one universal application.
Now, with the ability to seamlessly move direct deposits using Online or Mobile Banking, the process to find, open and set up FNB accounts can be completed in minutes, all from a digital device.
According to Delie, customer activity levels indicate that FNB's focus on reducing common account-opening obstacles has been extremely effective. He added, "We use technology, including AI, to increase the speed with which we connect clients with the optimal products for their needs. Since launching the eStore Common app, monthly averages for consumer deposit and loan applications have increased approximately 30 and 40 percent, respectively."
FNB's direct deposit switch capabilities are available with new or existing FNB checking, savings or money market accounts. After logging in to Online or Mobile Banking, consumers can access the Direct Deposit Switch service by navigating to their accounts. Then, customers can search for their payroll provider, sign into their corresponding employer account and receive confirmation that their payroll direct deposit has been successfully moved to their FNB account.
FNB continually builds on its digital banking platform. Explore the Company's comprehensive digital solutions, highlighted by eStore, at fnb-online.com.
About F.N.B. Corporation
F.N.B. Corporation (NYSE: FNB), headquartered in
FNB provides a full range of commercial banking, consumer banking and wealth management solutions through its subsidiary network, which is led by its largest affiliate, First National Bank of
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB" and is included in Standard & Poor's MidCap 400 Index with the Global Industry Classification Standard (GICS) Regional Banks Sub-Industry Index. Customers, shareholders and investors can learn more about this regional financial institution by visiting the F.N.B. Corporation website at www.fnbcorporation.com.
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SOURCE F.N.B. Corporation
FAQ
What new digital banking feature has FNB introduced in April 2025?
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