PNC FINANCIAL SERVICES GROUP, INC.

(PNC)
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Delayed Nyse  -  04:00 2022-06-24 pm EDT
162.84 USD   +4.52%
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PNC Financial Services : Bank Announces North Texas As Location Of Its Newest Tech Hub

04/21/2022 | 10:16am EDT

FARMERS BRANCH, TEXAS, April 21, 2022 - PNC Bank today announced the official opening of its North Texas Technology and Innovation Hub, the most recent tech-focused space it has opened across its coast-to-coast footprint, and the first hub of this type to be established in Texas.

The hub will house approximately 200 employees, the majority of which will focus on developing and elevating PNC's industry-leading innovation and technology endeavors. The new space, located strategically in North Texas to attract top talent in a high-growth, tech-driven market, also will feature a modern design, including an open layout to encourage a culture of collaboration.

"PNC's new North Texas Technology and Innovation Hub is another example of how we are leading the financial industry in the innovation space, especially in a region that is one of the fastest growing tech hubs in the country," said Brendan McGuire, PNC regional president for North Texas. "We know the only way to stay ahead of the curve in banking is through consistent, groundbreaking technology, and the spirit of entrepreneurship is core to who we are. Particularly now, following our acquisition of BBVA USA, we are in prime position to grow our employee and customer base, physical presence and capabilities to better serve our community through our Main Street banking model. Our newest innovation hub will help us to continue this momentum."

Located at 11511 Luna Rd. in Farmers Branch, the hub will feature multipurpose rooms, a main conference room for training and large-scale presentations, team meeting areas with writeable surfaces and large screens for brainstorming and planning, lockers for employee convenience, and modern artwork for a vibrant work atmosphere.

"While we're already a strong community partner, the North Texas Technology and Innovation Hub is another opportunity for PNC to help grow and diversify the local economy and create new opportunities for those who call this vibrant area home - and also those looking to relocate," said Ganesh Krishnan, PNC enterprise chief information officer and head of Business Technology and Innovation. "We are thrilled to turbo charge PNC's growing innovative capabilities by tapping into the North Texas technology talent pool."

PNC's constant focus on technology and innovation has yielded recent groundbreaking product rollouts designed to deliver the best solutions to its customers, including PNC EarnedIt in February. Powered by DailyPay Marketplace, PNC EarnedIt offers pay on-demand - a highly sought-after employee-benefit - to its clients allowing them to provide their employees access to earned pay - throughout any point in the pay cycle - prior to payday.

In April 2021, the bank announced its Low Cash Mode℠ digital offering to help Virtual Wallet® customers avoid overdraft fees through unprecedented account transparency and control to manage through low-cash moments or mis-timed payments. In the year since it was first introduced, Low Cash Mode has reduced overdraft fees by 46%, saving customers more than $54 million in OD/NSF fees.

PNC recently expanded in the North Texas market through its acquisition of BBVA USA, which was finalized June 1, 2021, with full integration of the companies completed in October. As part of its Main Street Bank model, PNC has a localized approach to both its business practices and philanthropy in North Texas to help bolster and sustain the broader area it now serves.

"Diverse representation in technology is proven to generate better products, enhance efficiency and improve creativity," said Deborah Guild, PNC chief security officer and head of Enterprise Technology and Security. "I am very excited to grow my team in a market as diverse as North Texas. This hub's official opening represents a tremendous opportunity to attract talent that reflects our expanded customer base."

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 the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.


CONTACT:
Alejandro Ortiz
(281) 433-5640
alejandro.ortiz@pnc.com

Disclaimer

The PNC Financial Services Group Inc. published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 14:14:09 UTC.


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Financials (USD)
Sales 2022 20 910 M - -
Net income 2022 5 878 M - -
Net Debt 2022 - - -
P/E ratio 2022 11,4x
Yield 2022 3,54%
Capitalization 67 347 M 67 347 M -
Capi. / Sales 2022 3,22x
Capi. / Sales 2023 2,95x
Nbr of Employees 58 547
Free-Float 75,4%
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Managers and Directors
William Stanton Demchak President
Robert Q. Reilly Chief Financial Officer & Executive Vice President
Ganesh Krishnan Chief Information Officer & Executive VP
E. William Parsley Chief Operating Officer & Executive Vice President
Gagan Singh Chief Investment Officer & Executive VP