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This tool thus advances PNC’s strategic goal expands the scope, breadth, and delivery of its fraud prevention solutions and highlights the bank’s emphasis on protecting clients from the threat of payments fraud.Ĭlick on the video link below to watch a conversation between Chris Byers, Senior Product Manager at PNC Bank, and Arin Ray, Senior Analyst with Celent's Risk practice Celent Risk research members can download the PDF of a detailed case study. PINACLE® Payee Account Validation is part of PNC’s strategic vision and efforts to contextually integrate new and existing technology and process components to create inventive, efficient, and differentiating user experiences for its clients. Service fees and penalties charged against the account. Deposits in the form of income, cash deposits, etc.

Account statement summarizes the following: The beginning and ending balances of the account. With the click of a button, they can validate the beneficiary details against information contained within a national database of account information and take mitigating action when there is a risk of payment fraud. A bank statement typically provides a full overview of the account for the selected tenure. This tool enables users of PINACLE®, PNC Bank’s commercial and online banking platform, to validate payee information when originating a freeform domestic payment.

Bank statements are used to track your transactions between financial institutions. PNC Bank developed and deployed a solution-called PINACLE® Payee Account Validation-to support its treasury management client base for use with eligible payments to help prevent payments fraud. The Bank Statement Creator is designed to be high quality, confidential, and quick.