PNC, a top-10 US bank by assets has gone live on real-time payments, The Clearing House’s new US real-time payments network.
PNC can now offer its clients the ability to send and receive real-time payment transactions using Finastra’s payment services hub. The process of real-time payments enables the clients to seamlessly and quickly transact payments across a secure network system.
Fusion Payments is already being used by PNC to provide wire payment processing.
Simon Paris, deputy chief executive officer at Finastra said: “PNC has positioned itself at the forefront of US real-time payments as an early adopter, enabling its clients to enjoy the benefits of real-time payments immediately with the launch of RTP.
“We’re helping banks like PNC make real-time payments a reality so that they and their clients can more effortlessly embrace the digital future.”
Erika Baumann, senior wholesale banking analyst at Aite Group, added: “In the United States, real-time payments are being driven by market forces and user demand for real-time services.
“Early adopters like PNC are leading the way in bringing the benefits of real-time payments to their business and consumer customers. Payment vendors such as Finastra have considerable experience in implementing real-time payments solutions and can be great resources for banks that seek to become early adopters of real-time payments capabilities.”