PNC Bank 2014 Annual Report Download - page 6

Redefi ning the Retail Banking Experience
Building a Stronger Mortgage Business
Our transformation of the retail banking
experience continues to gain momentum as
customer preferences concerning how, where
and when they bank continue to evolve. Today,
nearly 50 percent of our retail customers prefer
non-branch channels for their routine banking
transactions, opting instead for the convenience
of digital, ATM and telephone banking services.
We now process more than 35,000 mobile
deposits every day – more than double the
number we processed just two years ago.
When customers visit a branch, they often are
looking for a fi nancial consultant who can help
them open a new account, make a decision
about their fi nancial goals, or solve a problem.
With this in mind, we have been working to
convert many of our traditional branches to
a new, more effi cient model that offers more
technology and more opportunities for our
employees to have a meaningful sales and
service conversation with our customers.
To date, we have completed nearly 300 of these
conversions. We also are piloting different
branch styles as well as new services such as
instant card issuance, which enables us to print
a customer’s new debit card in the branch in a
matter of minutes.
At the same time, recent transformation efforts
and deposit product changes have resulted
in fee growth across several areas including
merchant services, deposit service charges,
brokerage and credit card as our conversations
with customers create opportunities to increase
our share of wallet.
Since PNC re-entered the residential mortgage
banking business with the acquisition of
National City Corporation and its mortgage
business at the end of 2008, our goals for
mortgage have been twofold. First, we have
been cleaning up past issues that were systemic
at National City and with many mortgage
lenders across the industry. We have made a lot
of progress on that front, and the majority of this
work is now behind us. Second, we have been
building PNC’s residential mortgage product
into one that enhances our brand, complements
our other home lending products, and cements
our relationship with customers for whom
buying a home will likely be the most important
fi nancial transaction of their lives.
In 2014, we introduced PNC HomeHQ and PNC
Home InsightSM Tracker, online tools that enable
PNC’s new branch model integrates enhanced
technologies, from deposit-ready ATMs to computer
tablets, which make routine transactions, product
research and account management more convenient
for customers and allow for demonstrations of PNC’s
innovative products and services by branch staff.
38%
46%
25%
35%
2013 2014
Continued Customer
Migration
■ Deposit transactions via ATM
or mobile banking app
■ Digital consumer customers
PNC’s effort to
transform the retail
banking experience is
driven by customers’
evolving preferences;
year over year we
continue to see
signifi cant increases
in the number of non-
branch transactions
we process and the
number of customers
who want to bank
primarily through
digital channels.
38%
46
%
25%
35%
Con
tin
ued
Cu
sto
m
e
r
Mig
rat
i
o
n