PNC Launches Digital Direct Deposit to Boost Fee Income

PNC Financial Services Group has launched PNC Direct Deposit, a mobile feature that automates payroll and benefit deposit setup to enhance user experience and reduce errors. The new feature may help PNC grow fee income through increased use of add-on banking services. The solution eliminates the need for manual entry of routing and account numbers, streamlining the process for users. This move aligns with PNC’s goal of expanding its non-interest income base and deepening customer relationships.

In similar efforts, U.S. Bancorp partnered with Fiserv to integrate its Elan Financial Services credit card program into Fiserv’s Credit Choice solution. This collaboration aims to enhance digital card issuance capabilities and provide a seamless, integrated experience for financial institutions and consumers. Additionally, Deutsche Bank collaborated with IBM and finaXai to expand Project DAMA 2, a public-permissioned multi-chain asset servicing pilot, through a new license agreement with IBM.

Read more at Zacks Investment Research: PNC Launches New Digital Direct Deposit: A Move to Boost Fee Income? – July 9, 2025