Huntington to Upgrade Entire ATM Network with Industry-leading Software

Rhea-AI Summary

Huntington (Nasdaq: HBAN) announced a significant upgrade to its ATM network, replacing 400 machines by year-end with state-of-the-art Hyosung MoniPlus2S software. This upgrade enhances transaction speed and security, allowing customers to withdraw bills in various denominations. As of Q3 2020, Huntington operates 1,330 ATMs across seven Midwest states. The initiative, aimed at improving customer experience, also prepares for future enhancements, including tap-and-go authentication. This installation marks Hyosung America’s largest U.S. rollout of MoniPlus software across multiple ATM vendors.

Positive

• Upgrade of ATM network improves transaction speed and security.
• New ATMs will allow withdrawals in multiple bill denominations.
• Enhancement aligns with customer feedback regarding convenience and security.
• Sets the stage for future innovations like tap-and-go authentication.

Negative

• None.

COLUMBUS, Ohio, Nov. 30, 2020 /PRNewswire/ -- Huntington (Nasdaq: HBAN; www.huntington.com) today announced it is upgrading the software of its entire ATM network and replacing 400 machines by year-end. The upgraded ATMs will run on state-of-the-art Hyosung MoniPlus2S software, which delivers faster transactions and improved security for customers. The newly equipped Hyosung ATMs also will allow customers to choose bills in denominations of $1, $5, $20 or $50.

Huntington has 1,330 ATMs across its seven-state Midwest footprint, as of the third quarter 2020.

"Our customers continue to rely on the convenience of ATMs, and this comprehensive upgrade of our ATM fleet demonstrates our commitment to improving their experience," said Andy Harmening, Huntington's director of Consumer and Business Banking. "Our customers have told us security, flexibility and ease of use are important to them and, true to our purpose of looking out for people, we have turned their feedback into action."

This ATM upgrade sets the stage for future enhancements that will include tap-and-go authentication through an ATM card or mobile app. And because the Hyosung software operates on ATMs from multiple manufacturers, Huntington customers will benefit from a consistent experience regardless of their location.

The Huntington upgrade will be Hyosung America's largest U.S. installation of MoniPlus software across a multi-vendor suite of ATMs.

The ATM upgrade is the latest of several recent products and services Huntington has delivered to help consumers and businesses improve their financial well-being, including:

• 24-Hour Grace^® for Business is the first and only service of its kind that gives additional time to cover overdrafts on checking accounts. Huntington will automatically waive the overdraft fee as long as the customer makes a deposit during the next business day to resolve the overdraft. Huntington introduced this feature for consumers in 2010.
• No overdraft fee $50 Safety Zone^SM to further help customers manage their long-term financial health. Accounts are safe from overdraft fees as long as the account is overdrawn by $50 or less.
• Huntington Lift Local Business, a new $25 million, small-business lending program focused on serving minority, women and veteran-owned businesses. Building on its position as the nation's No. 1 Small Business Administration (SBA) 7(a) lender by volume, Huntington developed creative lending options and a variety of other features that will help bring relief, recovery and growth to small businesses across the Midwest.
• Money Scout, an automatic savings tool that scans customers' accounts and looks out for money they can set aside. Money Scout analyzes spending habits, income, and upcoming expenses to find money that customers aren't using in their checking accounts – from $5 to $50 – then moves it to savings, automatically.

Since 2019, Huntington has introduced The Hub, the bank's digital-banking experience, and Huntington Heads Up^®, a digital messaging platform. Free to all customers, the tools are designed to help customers save more money, manage their spending and keep their financial goals front and center. Key features of the digital tools include:

• Savings Goal Getter: Helps customers visualize what they're saving for and shows their progress along the way.
• Spend Analysis: Helps customers categorize their spending and better understand how they can change those habits going forward.
• Spend Setter: Allows customers to set up monthly spending limits by category.
• Look Ahead Calendar: Provides a financial view of the month to come. Customers can see future bills and deposits so they can plan accordingly.

About Huntington

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio, with $120 billion of assets and a network of 839 full–service branches, including 11 Private Client Group offices, and 1,330 ATMs across seven Midwestern states. Founded in 1866, The Huntington National Bank and its affiliates provide consumer, small business, commercial, treasury management, wealth management, brokerage, trust, and insurance services. Huntington also provides vehicle finance, equipment finance, national settlement, and capital market services that extend beyond its core states. Visit huntington.com for more information.

View original content to download multimedia:http://www.prnewswire.com/news-releases/huntington-to-upgrade-entire-atm-network-with-industry-leading-software-301181307.html

SOURCE Huntington Bancshares Inc.

FAQ

What is the significance of Huntington's ATM upgrade?

Huntington's ATM upgrade enhances transaction speed and security, allowing customers to withdraw bills in denominations of $1, $5, $20, or $50, improving overall customer experience.

How many ATMs does Huntington have?

As of Q3 2020, Huntington operates 1,330 ATMs across seven Midwest states.

When will the ATM upgrades be completed?

Huntington plans to replace 400 machines by the end of 2020.

What software is being used for the new ATMs?

The new ATMs will run on Hyosung MoniPlus2S software, which is designed for faster transactions and improved security.

What future enhancements are planned for Huntington ATMs?

Future enhancements include tap-and-go authentication through ATM cards or mobile apps.