Consumers Can Now Apply for Deposit Products
and Loans Simultaneously in Universal Application
PITTSBURGH, Jan. 18,
2024 /PRNewswire/ -- F.N.B. Corporation (NYSE: FNB)
and its banking subsidiary, First National Bank, today announced
that consumers can now use the FNB eStore® Common account
application to apply for both loan and deposit products
simultaneously, marking the latest development in the Company's
award-winning Clicks-to-Bricks strategy. By making it possible to
apply for consumer loan and deposit products with a single
convenient application, FNB has taken another important step in its
journey as one of the first banks to offer a universal application
experience for nearly all its products and services.
FNB released the first phase of its eStore Common application,
exclusively for consumer loans, in May of 2023. The Company plans
to continue to enhance the platform with the inclusion of small
business loan and deposit products in 2024. The addition of
consumer deposit products — and the continued ability to apply for
multiple products at the same time — makes it even faster for
customers to acquire products and services that address the
complete range of their financial needs.
The time-save is especially noticeable when multiple products
are included, as most applications can be completed in under seven
minutes. A customer applying to open an eStyle Checking Account and
personal credit card together in the eStore Common application, for
example, would spend nearly 60 percent less time completing an
application than a customer who applied separately for each
product.1
"FNB's ability to scale our online and mobile platforms to
quickly introduce new capabilities is a result of our ongoing
investments in technology, data science and artificial
intelligence," said Vincent J. Delie,
Jr., Chairman, President and Chief Executive Officer of
F.N.B. Corporation and First National Bank. "Our goal is to act as
our customers' primary bank by providing the tools necessary to
efficiently and conveniently grow a banking relationship with our
Company."
Since launching the eStore Common application, FNB has seen
substantial engagement by both customers and non-customers. Among
the highlights:
- When comparing June – December
2023 to the same period in 2022, FNB roughly doubled both
the number of online consumer loan applications submitted and the
total number of consumer loan products that were applied for
online.
- A significant number of eStore Common application submissions
were made by non-FNB customers, demonstrating the effectiveness of
the platform and the substantial opportunity to continue growing
and deepening customer relationships.
Additionally, the large quantities of data FNB processes through
its digital platforms enable the Company to make data-driven
product recommendations. By using the information already provided
on the eStore Common application, customers can easily apply for
another product that is tailored to their unique needs without
having to fill out separate applications.
Accessing the eStore Common application is simple. Customers can
use eStore to select and add products to their shopping cart, and
then check out to begin the application experience. FNB has
included data prefilling technology in the system to eliminate
keystrokes for customers. In addition, the eStore Common
application's enhanced functionality includes the ability to upload
supporting documents with ease as well as automated account
funding.
To access eStore, FNB's proprietary digital engagement platform,
and explore the eStore Common application, visit FNB Direct Mobile
Banking, FNB-online.com or an FNB branch.
1 Does not include document upload time via FNB Document
Center or applications with co-applicants.
About F.N.B. Corporation
F.N.B.
Corporation (NYSE: FNB), headquartered in Pittsburgh, Pennsylvania, is a diversified
financial services company operating in seven states and the
District of Columbia. FNB's
market coverage spans several major metropolitan areas,
including: Pittsburgh,
Pennsylvania; Baltimore,
Maryland; Cleveland, Ohio;
Washington, D.C.;
Charlotte, Raleigh, Durham and the Piedmont Triad (Winston-Salem, Greensboro and High
Point) in North Carolina;
and Charleston, South Carolina.
The Company has total assets of more than $45 billion and approximately 350 banking offices
throughout Pennsylvania,
Ohio, Maryland, West
Virginia, North Carolina,
South Carolina, Washington, D.C. and Virginia.
FNB provides a full range of commercial banking, consumer
banking and wealth management solutions through its subsidiary
network, which is led by its largest affiliate, First National Bank
of Pennsylvania, founded in 1864.
Commercial banking solutions include corporate banking, small
business banking, investment real estate financing, government
banking, business credit, capital markets and lease financing. The
consumer banking segment provides a full line of consumer banking
products and services, including deposit products, mortgage
lending, consumer lending and a complete suite of mobile and online
banking services. FNB's wealth management services include asset
management, private banking and insurance.
The common stock of F.N.B. Corporation trades on the New York
Stock Exchange under the symbol "FNB" and is included in Standard
& Poor's MidCap 400 Index with the Global
Industry Classification Standard (GICS) Regional Banks
Sub-Industry Index. Customers, shareholders and investors can learn
more about this regional financial institution by visiting the
F.N.B. Corporation website at www.fnbcorporation.com.
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SOURCE F.N.B. Corporation
