The new firm, primarily serving the business community, was the nation's 5th largest trust company. with $322.5 million in resources and offices in the Citizens Bldg. 1920 when 20 area financial institutions merged to form the Union Trust Co. ![]() The original Cleveland bank was organized in Dec. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers.The HUNTINGTON NATIONAL BANK OF NORTHEAST OHIO is one of Cleveland's major banks and a principal subsidiary of the Columbus-based Huntington Bancshares, Inc. payments infrastructure with the RTP® network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. Most recently, The Clearing House has revolutionized U.S. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to banks and credit unions. The Clearing House operates U.S.-based payments networks that clear and settle more than $2 trillion each day through wire, ACH, check image, and real-time payments. Huntington also provides vehicle finance, equipment finance, national settlement and capital market services that extend beyond its core states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $126 billion of assets and a network of 814 full-service branches, including 11 Private Client Group Offices, and 1,314 ATMs across seven Midwestern states. ![]() The RTP network offers a flat pricing structure for all depository institutions regardless of size, does not include volume discounts, or have minimum volume requirements. demand deposit accounts, with more financial institutions joining the network each week. The RTP network’s real-time payment capabilities reach approximately 60 percent of U.S. The network enables instantaneous settlement and availability, so funds can be used or withdrawn as cash within seconds. The RTP network gives the banking industry a modern platform for 24/7 domestic real-time payments, complete with rich data capabilities and immediate payment confirmation. The RTP network, developed by The Clearing House, is empowering financial institutions of all sizes and businesses to implement innovative, value-added use cases for faster payments. “Huntington is meeting customers’ expectations, and we are excited that they are adding real-time payments send capabilities for their commercial customers.” “Today, commercial customers expect real-time services for their business, just like they do in their personal lives when it comes to shopping, streaming media, or banking,” said Steve Ledford, Senior Vice President of Product Strategy and Development at The Clearing House. Providing customers with send capability take convenience and efficiency to a new level.”įuture real-time payments enhancements will include the ability for all types of Huntington customers to receive and respond to Request for Payment messages, as well as the ability to leverage new communication methods and information reporting between payers and payees. ![]() “Customers can settle their accounts faster and reconcile their books more quickly and accurately. “Ease of use and an improved overall payments experience are the main highlights of send capability for customers,” said Adriana Hastings, Huntington’s Treasury Management Director. Real-time payment send capability provides instant settlement, improved invoice management, and payment confirmation with payment receipts provided to senders. Huntington launched the capability for customers to receive payments via the RTP network in 2020. COLUMBUS, Ohio & NEW YORK – Huntington (Nasdaq: HBAN recently enhanced real-time payments capability for its commercial and business banking customers, who can now send payments via the RTP ® network, the first new payment rail in the United States in more than 40 years.
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