US-based PNC Bank has launched digital banking services beyond its traditional market of 19 states and Washington, D.C, in a bid to further expand its presence.
The bank will offer high-yield savings account in the new markets along with various other digital banking services.
Besides offering digital banking services, PNC Bank is planning to open limited number of branches across the country starting with Kansas City and Dallas.
PNC Retail Banking head and chief customer officer Karen Larrimer said: “This digitally led expansion makes sense for PNC, as more than half of our deposits today come via non-teller channels – the ATM, online and mobile banking.
“Our research also indicates that while 80% of consumers report visiting a retail location one or fewer times a year, they want knowledgeable bank staff to be available nearby.
“So we have made the needed investments in technology to deliver the predominantly digital experience many people desire, coupled with boots-on-the-ground availability when that shoulder-to-shoulder discussion is desired for major financial decisions.”

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By GlobalDataA unit of The PNC Financial Services Group, PNC Bank is planning to pay 2.2% interest on the high-yield savings accounts in the new markets.
It will provide 2.25% interest for the customers who opt for ‘Virtual Wallet’ digital accounts, reported Reuters.
Commenting on the expansion into the Kansas City and Dallas markets, Larrimer said: “We have built strong community partnerships in these markets and share their traditional Main Street values.
“While direct bank models are typically digital only, we are committed to establishing a retail network presence in these expansion markets.”