On the face of it, the typical relationship between a company and its bank is often simple and straightforward: the company has a financial need, they reach out to their bank, and the bank provides a solution. While that approach may work to meet some business needs, working closely together in a more symbiotic way can sometimes yield results that are greater than the sum of the relationship’s parts. This proved to be the case for Walker & Dunlop and PNC Bank.
Early in 2023, Walker & Dunlop, a commercial real estate finance and advisory services firm located in Bethesda, Maryland, approached PNC Treasury Management with a specific request. The treasury workstation the company had long been using, and which PNC had helped them implement, had recently introduced functionality to permit the use of multiple file formats for payments – a change from requiring a single, particular file format. Walker & Dunlop wanted PNC’s help to begin using new payment file formats with the workstation. However, due to the number of accounts involved and some technical limitations in place, there was not a plug-in-ready solution to meet the need.
But this did not stop PNC and Walker & Dunlop from soon finding the path forward. PNC Treasury Management introduced the idea of implementing its Intelligent Routing service. Intelligent Routing automatically determines the most suitable payment method to address individual payment scenarios based on factors such as delivery time, cost, or other requirements that a business might specify. It allows payments to be sent via wire transfer, Same Day ACH, traditional next-day ACH, and real-time payment (RTP®), and it also provides information back to the business about how each payment was processed.
“At the time, Intelligent Routing was still a fairly new solution. It had not really been used at the level and volume that Walker & Dunlop was going to require, and it was going to involve some customization to adequately meet their business needs,” said Heidi Rosenbaum, sales leader in PNC Treasury Management. “But they were willing to give it a shot, and, even more significantly, their technology team worked closely with our teams over the course of 18 months to identify where there were challenges and develop appropriate solutions. It wasn’t just PNC trying to solve a problem – it was very consultative.”
The consultative approach has paid dividends, as Walker & Dunlop is now able to route payment files in the most efficient way possible. In turn, the collaboration allowed PNC Treasury Management to refine and improve aspects of the Intelligent Routing service in order to better meet the payment needs of mortgage servicing businesses.
The successful relationship highlights the importance of having a deep understanding of specialized businesses and industries, according to Real Estate Sales Director for Treasury Management Marcy Burns. “At PNC, one of our main priorities is to really understand our clients’ businesses and the industries they are in, because having that specialized knowledge provides us with an opportunity to deliver customized ideas and solutions. By really getting to know the ins and outs of what Walker & Dunlop does as a mortgage servicer, we’ve developed a payments solution that could end up being a game changer for the mortgage servicing industry overall.”
Burns added that the connection continues to be beneficial for both entities. “We have a very tight, longstanding relationship with Walker & Dunlop that works well not only because we are consultative to them, but also because they are always pushing us. They are a very cutting-edge and industry-leading company, and they consistently approach us with opportunities and ideas.”
Brilliant Begins Here
PNC’s team of treasury specialists is available to help unlock business potential, navigate new technology, and overcome the challenges that come along with digital transformation. No matter the company's industry or size, the PNC Treasury Management platform offers solutions that are flexible in scope and geared towards driving measurable results and improving key performance indicators. For more information, reach out to your PNC Relationship Manager, or contact us.
