PNC launches new app to beat rivals
With the advent of online banking, it no longer matters where your bank is located. Banks now have to compete not just with others on their block, but also with ones located across the country, or even fintech firms with fancy online apps. Customers want ease of use when it comes to banking. I ...
Overview
With the advent of online banking, it no longer matters where your bank is located. Banks now have to compete not just with others on their block, but also with ones located across the country, or even fintech firms with fancy online apps.
Customers want ease of use when it comes to banking. I don’t know about you, but my banking app isn’t my go-to app — it’s full of lots of navigation, often crashes, and is just a pain to use.
With increased competition, more banks are thinking about customer service and making sure clients have all the tools they need.
And the drive to increase customer retention and gain new market share is one of the reasons PNC has developed a new app for its clients.
Rethinking how a bank app looks and feels
PNC has been rethinking its infrastructure for a while. In 2024 and 2025, it redeveloped its entire digital ecosystem on the back end, Alex Overstrom, head of retail banking at PNC told TheStreet.
As part of that drive, the bank decided to completely change the look and feel of its app, using new technology to eliminate downtime when accessing banking services.
“Customers want their mobile app and their banking to be available to them 24/7 with no downtime,” said Overstrom.
Many bank apps feel heavy because they have too many features. PNC wanted to design the app in a more streamlined way, while still providing all the services customers needed, Overstrom added.
It strikes a balance between “breadth of capability, but ease of use, navigation, and just simplicity,” he said.
“You don't need to feel like a rocket scientist to use your bank now,” Overstrom added.
The app has been rolled out slowly — first to employees, then to First Bank customers, which PNC recently finished acquiring.
Details
And now the app is available to all existing and new PNC customers.
PNC app includes key features for ease of use
To make the app easier to use, PNC has added several new elements. That includes customizing options so customers can use the app however they want, with faster load time.
In other words, you can decide whether you want to see your messages, debit statements, or credit card details first.
What the new PNC app includes
- The app includes multiple new features for customers.
- That includes being able to choose between light and dark mode.
- Users can also access the app in different languages.
- App customization allows users to change what they see on screen.
Source: PNC interview with TheStreet
And although one new feature may excite some customers, it may make others a bit more hesitant.
PNC adds controversial feature to banking app
PNC is slowly adding AI elements to its new app. Clients can opt to receive AI-driven perspectives on their finances to help them better manage their money, Overstrom said.
That might mean allowing users to understand their spending habits, or giving tips about where they can save money — for example, targeting debit users to consider opening a limited credit card.
Overstrom hopes that by the end of the year, PNC will be able to let customers use AI on the new app to do things such as ask for all transactions with specific people, or ask for purchases made at grocery stores.
But while PNC is using AI, it’s neither forcing all customers to use it, nor giving the technology the ability to make important financial decisions, Overstrom emphasized.
“AI is a tool to allows for rapid iteration, development, and understanding what customers want,” he said.
AI use by banks has been under scrutiny in recent months, as worries have surfaced among experts and government officials over cybersecurity measures, as reported by TheStreet. Others have cited concerns about increasing energy costs and water use, as massive data centers are built to support the new technology.
More bank news
- The global AI race is now moving into banking and payments
- AI agents can now open bank accounts and move your money
- Goldman Sachs pays 4% on CDs most banks won’t match
Ultimately, for Overstrom and PNC, offering AI as an option is about letting clients choose how they want to use PNC — whether that means grabbing a coffee at their new branches, calling them on the phone, or using AI features to understand their spending on the new app.
“We can't tell our customers how they should interact with us. We want to make it possible for them to interact in the way they choose with us, and we want to make that as easy as possible,” he said.
Related: PNC has great news for customers
Source
Originally published at www.thestreet.com.
