PNC Bank Announces Integration with Oracle Fusion Cloud ERP for Embedded Banking
Rhea-AI Summary
Oracle (NYSE:ORCL) and PNC Bank announced the integration of PNC's PINACLE Connect® embedded banking platform with Oracle Fusion Cloud ERP. This integration enables PNC's corporate and commercial banking clients to access treasury services directly within Oracle Cloud ERP, streamlining financial operations.
The embedded banking experience utilizes Oracle's B2B offering for turnkey connectivity, allowing clients to manage balances, transactions, payments, and account reconciliation without switching between multiple platforms. Oracle Cloud ERP, currently serving over 10,000 organizations, offers comprehensive enterprise finance and operations capabilities with AI-powered features.
Positive
- Integration streamlines financial operations by reducing the need for multiple platforms
- Expands Oracle Cloud ERP's functionality for over 10,000 existing customers
- Enhances efficiency through automated manual processes and improved bank connectivity
Negative
- None.
News Market Reaction
On the day this news was published, ORCL gained 0.92%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Connection Enables PNC PINACLE Connect® Clients to Seamlessly Access Treasury Services Within Market-leading Cloud ERP
The new embedded banking experience, which uses the Oracle B2B offering to provide turnkey connectivity, helps optimize business processes by reducing the need for clients to navigate between multiple platforms to retrieve balance and transaction information, initiate and approve payments and reconcile accounts —automating manual processes and helping save valuable time.
"We are committed to delivering innovative, secure and efficient solutions within PNC's Treasury Management platform that integrate seamlessly into our clients' workflows," said Howard Forman, executive vice president and head of PNC's Commercial Digital Channels. "By embedding our services within Oracle Cloud ERP, our clients can more effectively manage their cash position and spend more time running their businesses, while spending less time establishing bank connectivity and handling manual financial tasks."
This announcement builds upon PNC's strong record of integrating its banking services with leading ERP and treasury management systems, reducing the need for clients to use multiple systems and creating a more direct and comprehensive view of a company's financial information.
"Manual navigation between banking platforms and financial management systems can add friction, complexity, and human error, reducing the efficiency of financial processes," said Catherine You, group vice president, Oracle. "With PNC's banking services embedded in Oracle Cloud ERP, joint customers can increase the speed and accuracy of transactions to further increase productivity, reduce costs, and improve controls."
Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials, an accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, and supply chain and manufacturing. More than 10,000 organizations turn to Oracle Cloud ERP to run their businesses and can embrace innovations in predictive, generative, and agentic AI to help optimize finance processes across accounting, procurement, and treasury teams.
PNC Treasury Management offers a platform of innovative, end-to-end technologies and experienced teams that help clients architect and implement a cohesive cash management system for their business. For more information about PNC Treasury Management and PINACLE Connect®, visit https://www.pnc.com/treasury.
PNC Bank Announces Integration with Oracle Fusion Cloud ERP for Embedded Banking – Page 2
About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.
About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in
CONTACT:
RJ Tamburri
(412) 762-9614
rj.tamburri@pnc.com
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SOURCE PNC Bank
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