PNC puts embedded payments on the payroll
- Key insight: PNC has partnered with ADP to embed payroll inside HR functions.
- Forward look: “The [PNC/ADP collaboration] could be the start of a new trend if other national and regional banks follow suit. —Cornerstone’s Jessica Pinkston
With banks looking for a way to embrace embedded payments, human resources and payroll are emerging as a potential hot spot. “Payroll is usually the largest and most time-sensitive recurring expense a small business manages, and it’s often the most significant cashflow consideration,” Dave Shorten, head of SMB Treasury Management at PNC, told American Banker.
