Magazine article American Banker

PNC Targets Women through Deal

Magazine article American Banker

PNC Targets Women through Deal

Article excerpt

Pittsburgh-based PNC Bank Corp. has made a two-year, $5 million agreement to be the exclusive sponsor of banking products and services for visitors to, a popular women's-interest Web site of New York-based iVillage Inc. that draws 7.3 million visitors monthly.

"We want to be the bank of choice for women," said Thomas H. O'Brien, chairman and chief executive officer of PNC.

Women are the fastest-growing segment of Internet users, said Stephen L. Swanson, chief executive officer of PNC's national affinity banking unit. In addition they control 60% of all transactions in the United States, he said.

Through iVillage, which comprises branded communities of women users such as Parent Soup, MoneyLife, and Work From Home, the banking company can gain access to the growing on-line female population, Mr. Swanson said.

PNC plans to survey iVillage visitors and create custom products and services based on the results.

The survey would also help PNC design marketing campaigns. For example, groups concerned about Internet security would be given more information about the banking company's security measures than those not so concerned.

PNC and iVillage plan to jointly create a cobranded banking center and expect it to be established next month. It is to offer PNC's on-line consumer loan service and other consumer and small-business banking products.

Credit cards and investment products will not be offered because iVillage has exclusive arrangements with others to offer those products, Mr. …

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