PITTSBURGH, June 29, 2021 – The PNC Financial Services Group, Inc. (NYSE: PNC) today announced expanded cross-border payment capabilities and the rebrand of BBVA Transfer Services, Inc. to PNC Global Transfers, Inc. PNC recently acquired BBVA Transfer Services, Inc., an innovator in the cross-border payment industry, as part of its acquisition of BBVA USA Bancshares, Inc. and its U.S. subsidiaries, which legally closed June 1, 2021. The addition of this business expands PNC Treasury Management’s robust payments platform, providing yet another solution for seamlessly managing payments for its corporate clients.
“The addition of PNC Global Transfers to our treasury management platform demonstrates our ongoing commitment to investing in the products and solutions our clients need,” said Chris Ward, executive vice president and head of digital and innovation for PNC Treasury Management. “Leveraging PNC Global Transfers’ proprietary immediate payment API platform enables clients to connect and power their business across borders.”
PNC Global Transfers, formerly known as BBVA Transfer Services, is a leading innovator in the cross-border payment industry, offering its clients – third party license money transmitters and other financial institutions – access to an integrated API solution that connects the originating clients to multiple payment networks throughout Mexico, Central America, South America and the Caribbean. Its cross-border solutions provide fast, secure and reliable real-time delivery of funds with positive payment notification. PNC Global Transfers’ services will also be seamlessly integrated into PNC’s existing payment platform, such as RTP, ACH, Wire Transfer, Card and Zelle, providing the bank’s clients a comprehensive solution for all their treasury needs.
Aurora Garza Hagan will continue as president of PNC Global Transfers, which will remain headquartered in Houston, Texas with its current management team and employees leading the organization. The company will continue to manage its portfolio of clients and will benefit from the strength of PNC’s Treasury Management platform and broader Corporate & Institutional Banking capabilities to invest and drive future growth.
“We are excited to begin this new chapter as part of PNC and look forward to expanding our business,” said Aurora Garza Hagan, president of PNC Global Transfers. “While the name and ownership have changed, our commitment to this industry, to regulatory compliance and to our clients remains our highest priority.”
The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.