While PNC has offered a number of financial wellness solutions across its lines of business for years—including PNC WorkPlace Banking, PNC BeneFit Plus and Fiduciary Investment Services—it has now formed a new standalone financial wellness business called PNC Organizational Financial Wellness. PNC says this cohesive team and strategy will better deliver its comprehensive solutions and value-added advice to its clients and their employees.
“For the last several years, our conversation with corporate clients has increasingly included a focus on the financial wellness of their employees,” says Mike Lyons, executive vice president and head of corporate and institutional banking. “The urgency of these conversations has accelerated in 2020, and, as a result, we are launching Organizational Financial Wellness to provide value-added solutions and expertise to employers, with the ultimate goals of delivering tools to help their employees better manage their financial well-being.”
The service will be delivered by financial wellness consultants, who will serve as key business partners to the human resources (HR) suite and recommend financial wellness solutions based upon each company’s specific needs.