CIT’s national direct bank CIT Bank, a leading bank focused on empowering businesses and personal savers with the financial agility to navigate their goals has announced new self-service capabilities to move funds via wire transfer and to manage mature certificates of deposit (CDs) through the bank’s online and mobile platforms.
The new functionalities add simplicity to the CIT digital banking experience and further enable consumers to manage their money remotely and conveniently. The bank has enhanced the wire transfer capability with the option to choose the recipient type, such as an escrow company, intermediary, or standard recipient, simplifying the data entry process. Transactions are kept secure by using a one-time passcode (OTP) delivered by an SMS message or phone call.
“We’re committed to simplifying the banking experience for our customers and empowering them to meet their goals with ease and efficiency. These latest enhancements provide added flexibility to help customers bank from anywhere, at any time,” said Ravi Kumar, head of CIT’s direct bank.
CD management upgrades enable customers to manage their accounts at their convenience. When a CD matures, customers can log-on through their online or mobile banking platform for options such as changing their CD terms or transfer funds to an existing CIT bank account.
Recently, CIT partnered with Fintainium to launch a new FinTech payment solution.
CIT is a national bank focused on empowering businesses and personal savers. CIT Group is a financial holding company and operates the principal bank subsidiary, CIT Bank. Its Treasury and Payment Services business provides treasury and liquidity management and payment services that optimize working capital for SMBs. Its solutions streamline and automate payment processes, reducing fraud risk, and improving liquidity management.