Truist Finl Corp Stock Price, News & Analysis

Truist Financial Corporation (TFC) has launched Truist Assist, a new AI-enhanced digital virtual assistant, available 24/7 via mobile and online banking. This tool aims to improve client service by answering over 100 common banking inquiries using advanced natural-language processing and understanding. The initiative aligns with Truist's strategy to enhance client satisfaction by integrating technology and personal support. The launch is part of their broader innovation strategy, facilitated by the newly opened Innovation and Technology Center in Charlotte, North Carolina.

Truist Financial Corporation (NYSE: TFC) has appointed Mike Maguire as the new chief financial officer (CFO), effective Sept. 15, 2022. He takes over from Daryl Bible, who announced his retirement in May and will assist during the transition. Maguire is a strategic leader with extensive experience in consumer finance and payments, overseeing various businesses like LightStream and Service Finance. This leadership change occurs as Truist navigates a transformative phase, reaffirming its commitment to enhancing community and client experiences.

Truist Insurance Holdings, a subsidiary of Truist Financial Corporation (NYSE: TFC), has signed a definitive agreement to acquire BankDirect Capital Finance from Texas Capital Bancshares, Inc. (NASDAQ: TCBI) for over $3 billion in loans. This acquisition will enhance Truist's premium finance business and expand into the life insurance sector. BankDirect will operate under AFCO Credit Corporation post-acquisition, expected to close in Q4 2022. The deal will diversify Truist's risk management offerings and potentially increase geographic reach, particularly on the West Coast.

Truist Financial Corporation (NYSE: TFC) announced that its Chairman and CEO, Bill Rogers, will present at the Barclays Global Financial Services Conference on September 13, 2022, at 9 a.m. ET in New York City. A live audio webcast of the event will be accessible on Truist's investor relations website, with a replay available for 30 days. As of June 30, 2022, Truist holds total assets of $545 billion and is a leading player in U.S. banking, offering a comprehensive range of financial services.

Truist Wealth has launched Truist Invest and Truist Invest Pro, expanding its digital investment offerings. Truist Invest offers tailored portfolios based on client goals and risk tolerance, featuring daily portfolio analyses and automated rebalancing. Truist Invest Pro combines this digital approach with direct access to financial advisors for personalized investment advice. Accounts can be opened online with a minimum of $5,000, and fees are 0.50% for Truist Invest and 0.85% for Truist Invest Pro. This initiative aligns with Truist's T3 strategy, aiming to enhance client trust and engagement.

Truist Foundation has announced a $2.25 million grant to Community First Fund, aimed at supporting 500 Black and Latine entrepreneurs and financing 100 minority-owned businesses to generate 400 jobs in Pennsylvania. This grant is part of Truist's broader $120 million initiative to bolster small businesses nationally. The newly formed Economic Justice Fund will enhance lending activities for minority entrepreneurs, focusing on the Greater Philadelphia area. Truist emphasizes its commitment to financial equity and supports community development through sustainable economic initiatives.

Truist Financial Corporation (NYSE: TFC) has appointed Scott Stanzel as the new executive vice president and chief communications officer, effective October 1, 2022. Reporting to Chief Legal Officer Ellen Fitzsimmons, Stanzel will oversee corporate communications from Truist's headquarters in Charlotte, North Carolina. With extensive experience, including positions at Capital One, Amazon, and Microsoft, Stanzel aims to enhance stakeholder engagement. The company also announced that Brian Davis will transition to a new role, details of which will be revealed soon.

Truist Financial Corporation (NYSE: TFC) announced the acquisition of key strategic assets from Zaloni, including the Arena platform, enhancing its data governance and analytics capabilities. This acquisition aims to advance Truist's artificial intelligence and machine learning initiatives. Key Zaloni personnel will join Truist's Enterprise Data Office, based in Raleigh. The Arena platform is designed to improve data management, reduce IT costs, and accelerate insights. The deal underscores Truist’s commitment to evolving its services and enhancing customer experience.

Truist Financial Corporation (NYSE: TFC) announced a $1.45 million commitment to Junior Achievement of Greater Washington (JAGW) to enhance financial literacy programs for over 40,000 students in Fairfax and Prince George's counties. This funding aims to support JAGW's JA Finance Park initiative, preparing students for financial and career success through experiential education. Since 2021, Truist has donated $5.1 million to various initiatives, demonstrating its dedication to economic equity and community development in the Greater Washington area.