With this service, clients can specify criteria that will help determine the appropriate payment type or format payments to different specifications based upon clearing channel, thus increasing efficiency and allowing them to directly focus on growing their business.

Intelligent payment routing provides clients with flexible options that suit their individual business needs and individual payment scenarios. Clients create a payment file and PNC Treasury Management will determine the most appropriate type of payment channel based upon specific factors, such as the fastest delivery and lowest cost, based upon preset parameters established by the client. Payment can be sent via real-time payment (RTP®), Same Day ACH or Next Day ACH. An option for Wire transfer will be added in first quarter 2020.

"Our clients have enough to focus their energies on without needing to also be experts when it comes to payments," said Chris Ward, executive vice president and head of product & operations, PNC Treasury Management. "As a leader within the space, we have the expertise and solutions in place to determine the best method of executing a payment with robust reporting capabilities that add peace of mind."

PNC will use intelligent routing for its own employee expense reimbursement program. To speed reimbursements while minimizing efforts for accounts payable, PNC will use the existing NACHA origination file and the employee's direct deposit payroll information. Intelligent routing will send the payment immediately if it determines the account of the employee is eligible to receive an RTP. Otherwise, the payment will be sent through ACH to the employee's personal account.

PNC Treasury Management has invested in an omni-payment ecosystem to provide clients seamless options that meet a variety of business needs. PNC was one of the early adopters of RTP when the system launched in November 2017, and now allows clients to receive and send funds and optional remittance information into accounts within seconds of payment initiation. In addition to comprehensive payment solutions, PNC also has developed innovative treasury management receivables services.