PNC Treasury Management, a unit of American lender PNC Bank, has started offering intelligent payment routing capabilities.

The new service assesses customer preferences to determine appropriate payment type to increase efficiency. It lists multiple options to match individual business requirements and payment scenarios.

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PNC Treasury Management will utilise the new capabilities to determine the suitable payment channel when a client creates a payment file.

The payment channel is selected by assessing various factors including delivery time, cost and other requirements listed by the client.

The intelligent payment routing capabilities supports payments through real-time payment (RTP), Same Day ACH or Next Day ACH. It will also support wire transfers from the first quarter of next year.

PNC Treasury Management executive vice-president and head of product & operations Chris Ward said: “Our clients have enough to focus their energies on without needing to also be experts when it comes to payments.

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“As a leader within the space, we have the expertise and solutions in place to determine the best method of executing a payment with robust reporting capabilities that add peace of mind.”

The firm has decided to leverage the routing capabilities for its employee expense reimbursement programme.

It will utilise existing NACHA origination file and the employee’s direct deposit payroll information to facilitate the reimbursements.

The intelligent payment routing will trigger instant payments to RTP eligible employees, while others will receive payments through ACH in their personal account.