Latest news with #PNCBank
Bloomberg
20 hours ago
- Business
- Bloomberg
PNC Seeking Client Access To Crypto Trading
PNC Financial Services Group Inc. formed a partnership with crypto exchange Coinbase Global Inc. to offer its banking customers access to digital-currency services. PNC Bank Head of Treasury Management Emma Loftus joins Katie Greifeld and Tim Stenovec on "Bloomberg Crypto," to discuss. (Source: Bloomberg)
Bloomberg
21 hours ago
- Business
- Bloomberg
Crypto Lobbying Boosted For Stablecoin Bill
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. Today's guests: Crucible Capital General Partner Meltem Demirors and PNC Bank Head of Treasury Management Emma Loftus. (Source: Bloomberg)
Finextra
a day ago
- Business
- Finextra
PNC Bank integrates Oracle Fusion Cloud ERP for embedded banking
PNC Bank today announced the integration of its award-winning embedded banking platform, PINACLE Connect®, with Oracle Fusion Cloud Enterprise Resource Planning (ERP). 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. PNC corporate and commercial banking clients now have seamless connectivity to key banking services directly within Oracle Cloud ERP, helping streamline financial operations and enhance overall efficiency. The new embedded banking experience, which uses the Oracle B2B offering to provide turnkey connectivity, helps optimize business processes by reducing the need for clients to navigate between multiple platforms to retrieve balance and transaction information, initiate and approve payments and reconcile accounts —automating manual processes and helping save valuable time. "We are committed to delivering innovative, secure and efficient solutions within PNC's Treasury Management platform that integrate seamlessly into our clients' workflows," said Howard Forman, executive vice president and head of PNC's Commercial Digital Channels. "By embedding our services within Oracle Cloud ERP, our clients can more effectively manage their cash position and spend more time running their businesses, while spending less time establishing bank connectivity and handling manual financial tasks." This announcement builds upon PNC's strong record of integrating its banking services with leading ERP and treasury management systems, reducing the need for clients to use multiple systems and creating a more direct and comprehensive view of a company's financial information. "Manual navigation between banking platforms and financial management systems can add friction, complexity, and human error, reducing the efficiency of financial processes," said Catherine You, group vice president, Oracle. "With PNC's banking services embedded in Oracle Cloud ERP, joint customers can increase the speed and accuracy of transactions to further increase productivity, reduce costs, and improve controls." Oracle Cloud ERP offers a comprehensive set of enterprise finance and operations capabilities, including financials, an accounting hub, procurement, project management, enterprise performance management, risk management, subscription management, and supply chain and manufacturing. More than 10,000 organizations turn to Oracle Cloud ERP to run their businesses and can embrace innovations in predictive, generative, and agentic AI to help optimize finance processes across accounting, procurement, and treasury teams. PNC Treasury Management offers a platform of innovative, end-to-end technologies and experienced teams that help clients architect and implement a cohesive cash management system for their business
Scroll.in
6 days ago
- Scroll.in
From the memoir: Industrialist Subroto Bagchi examines India's attitude towards blue-collar jobs
Where El Camino Real, 'The Royal Road' in Spanish, crosses Lawrence Expressway in Santa Clara, California, there used to be an $18 a night, EZ-8 Motel. Back in 1990, the Indian economy was at the brink, the country had very little foreign exchange and for people like me who used to travel to the Silicon Valley to solicit software projects, EZ-8 was a godsend. Back then, I did not know the difference between a motel and a hotel. A motel is a cheap place for a motorist to just spend a night along the highway before moving on the next morning. You got a no-frills room with a clean toilet, free coffee at the reception and nothing else. But motels are always near eateries, sometimes the typical American 'diner' where you could get a sumptuous breakfast that held you up until dinner. During my maiden stay there, I found the bathroom's faucet leaking, with water all over the floor. I called the front desk and a man told me not to worry, someone will be up there soon. In a few minutes, the doorbell rang and as I opened the door, I saw this big man, better clothed and perhaps even better fed than me, standing there with a big smile on his face. 'Good morning, buddy,' he bellowed, 'I am here to fix your faucet.' I greeted him and gratefully let him in. He was whistling a tune I couldn't place as he came in. He had his entire gadgetry, tools of all kinds, perhaps two dozen of them, neatly hanging from his belt. He had everything from a screwdriver to a flashlight. I had never seen such accessories, so systematically arranged, ever before. He went into the bathroom, called and asked me to explain how the problem occurred. As I explained, he listened with the air of a surgeon about to get into the operation theatre to perform brain surgery. When he had understood the issue, he told me that he would fix it and I stepped out. After perhaps half an hour, he called me back and showed me all was good. He asked me to try things out while he stood overlooking so that I was truly satisfied. Then, waving his hand, he said, 'Have a nice day!' and was gone. I was amazed at his professional approach, his upkeep, but most importantly his body language. He was a plumber; I was a hotel guest. But the equation was between equals. I had a problem. He knew how to fix it. He was led by expertise, with no air of subservience. I was his buddy. Years later, we lived for some time on the East Coast of the United States, this time in New Jersey. Our two daughters were in college, and it wasn't easy to support that as a single-income household. Susmita decided to work in the local PNC Bank as a teller. It was an entry-level position that did not pay a whole lot but it helped. She liked her work. But now, she had to go to work six days a week. Along the way, she became very good at her work and the bank started sending her to other branches, often an hour or two away, to train staff there or fill in when someone was on long leave. All this meant, we now needed help for the upkeep of the home that, despite the weekend vacuuming I was good at, wasn't quite working out. That is when we decided to try out the services of a house cleaning agency called Molly Maid. We called them and set up the appointment. On the promised day and time, a Toyota car pulled up with the Molly Maid sign on it, two young women got off, smartly dressed, pulled out all their professional equipment including a heavy-duty vacuum, their cleaning supplies et al, took over the house and went about their work. After they were done, we offered them coffee and cookies and sat chatting. As we conversed, we learnt one of them was a college student. She, like our two daughters, was studying at Rutgers University. Coffee over, they reloaded their stuff and off they went in their Molly Maid car to their next appointment. Back now in Bhubaneswar, Susmita and I had moved in with our in-laws for a few weeks in their Sahid Nagar home until the government quarters allocated to me was ready. During this time, I met Upendra, the local barber who made a home visit for his regular customers. I needed a haircut. So, on a particular Sunday morning, he appeared with a pair of scissors and a comb wrapped in a cloth towel and asked for a mirror, a wooden chair and a mug of water. The chair was duly installed on the small veranda, he wrapped me in the cloth and got to his work. The difficulty of giving me a haircut is in finding the hair on my head to begin with. I am quite hair disadvantaged and contrary to it being a short job for a good barber, they actually take longer, going after each hair with excessive care just to make me feel good. This stretches the time, but I generally make use of the occasion to have a conversation. Barbers quite like that. Now that I was in the skill development business, all conversation veered around that subject. This once, I wanted to understand how he learnt his trade and how his capabilities could be replicated. After all, everyone needs grooming. Upendra was a man in his late fifties, he could even be in his mid-sixties, there was no knowing for sure. He had three daughters, all of them married. That was really nice to know because that was a huge financial burden for a man like him. 'What were they doing?' I asked him. They were all homemakers, tending to the husband and the children, of course. 'Why didn't he teach them his skills?' Upendra's snippers stopped in mid-air and he didn't know how to answer that question. He thought for a second and then said that wouldn't have been nice. It was a stupid question at two levels. First, if a barber has to teach his children his skill and induct them into his trade, it means he has failed to raise them right. Success is in vacating your parents' vocation and doing something that is socially more aspirational. It is okay for them to go to high school, maybe even the so-called local college, and do nothing afterwards, to buy a bike and a mobile phone with their father's money and roam around unproductively. But to be seen as a barber like the father was a demotion. At the second level, it was a stupid question because I was asking about the man's daughters. They were meant to be married off by the time they were 17 or 18 with whatever small dowry was possible. They could not cut other people's hair. But Upendra's skill was hugely valuable even in a place like Bhubaneswar. Each time Susmita needed her hair done, she sought an appointment with Kelsang Chonzom Bhuita, a young lady from the North-east at the Mayfair Hotel. There are other hair stylists there but for Susmita, it had to be Kelsang each time because she understood her, before she understood her hair. If Kelsang was busy that weekend, Susmita would wait for her next free slot. Kelsang was an important part of the very upmarket Mayfair Hotel. Her clients respected her for her expertise. Between the salary and the tips, she made more money than many so-called white-collar workers in the city. Just the same way, in Bengaluru's posh hair salon, Blown on the Vittal Mallya Road, a sophisticated young man named Yogesh worked as a hair designer. Whenever our daughters came to India, visiting him to get their hair done was on top of their to-do list. And for that, they usually took an appointment even before leaving the United States. Yogesh did not cut hair. He knew hair. But Upendra would not entertain the idea that his three daughters could be like Kelsang and Yogesh. Unlike Kelsang and Yogesh who probably went to a training school to learn hair styling by paying good money, Upendra could have personally given his daughters the head start. But cutting hair and that too in a 'beauty parlour' wasn't a welcome idea to him; it simply wasn't socially acceptable. After the haircut was done and I was dusted, my father-in-law appeared with the money in hand. At this time, Upendra got out of his rubber slippers, kept the comb and the scissors aside, bowed respectfully and took the money in both hands. His palms cupped together, he did his namaskar and went his way. In the ensuing few weeks, at my in-laws' place, I saw plumbers, carpenters and electricians come and go for fixing this thing or that. So did the maid who had regular timings and tasks. None of these people brought their footwear in. None of them had the confidence and the body language of the plumber of Santa Clara or the Molly Maids of New Jersey. In my in-laws' home, these people were treated affectionately but not respectfully. Sometimes, they were offered a cup of tea or a snack but these were in separate utensils kept separately for 'such' people. In most other households, they would be treated with disdain, forget about being offered a cup of tea. In India, a maid is a maid servant. A construction worker is a site labourer. They are not respected by society and hence, lack agency. Marry the skill they have with a caste system that is still doing well after eight decades of independence, and you get a dreadful combination that tells every Upendra to look at their vocation as a burden, sometimes a curse. Not a source of professional pride.
Business Times
23-07-2025
- Business
- Business Times
PNC taps Coinbase to create crypto trading offering for bank customers
[NEW YORK] PNC Bank is working with cryptocurrency exchange Coinbase to offer crypto trading to the bank's customers, the companies said on Tuesday (Jul 22), in a sign that crypto is moving towards becoming increasingly interconnected to mainstream finance. PNC will use Coinbase's institutional 'crypto-as-a-service' platform to develop an offering that will allow PNC clients to buy, hold and sell cryptocurrencies. The Pittsburgh-based financial institution will also offer certain banking services to Coinbase. The PNC-Coinbase partnership is a stark shift for the banking sector, which crypto companies at one point had accused of being hostile to their industry. Lawmakers earlier this year held a hearing to scrutinise US banks and their regulators in response to claims they deny services to particular industries. Republicans and Democrats agreed that banks may be improperly denying services to some clients, but disagreed on the root cause. The banking industry has fiercely resisted accusations that it denies services based on ideological reasons. It has instead argued that onerous, outdated and opaque rules make it difficult for banks to sometimes provide services, or explain why they cannot. The partnership announcement comes as US President Donald Trump and his administration have embraced cryptocurrencies and enacted industry-friendly policies. Trump signed a law on Friday to create a regulatory regime for US dollar-pegged cryptocurrencies known as stablecoins, a major milestone for the digital asset sector, which has long lobbied for such a framework. Several banks, including Bank of America and Citibank, have said that they are exploring issuing their own stablecoins. 'Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients,' William Demchak, PNC CEO, said. 'This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC's trusted platform.' REUTERS
