CIT’s Direct Bank Announces New Digital Self-Service Capabilities

Pasadena-based CIT Bank said their customers can now simplify their digital banking experience and manage their money remotely by using new self-service capabilities for moving funds via wire transfer and managing mature certificates of deposit through the bank’s online and mobile platforms.

In a statement Thursday, CIT Bank said one of the unique features to the new wire transfer capability is the option for customers to choose the recipient type – an escrow company, intermediary, or standard recipient – simplifying the data entry process. Transactions are kept secure through the use of a one-time passcode delivered by 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,” Ravi Kumar, head of CIT’s direct bank, said in a statement. “These latest enhancements provide added flexibility to help customers bank from anywhere, at any time.”

Upgrades to managing CDs (certificates of deposit) enable customers to manage their accounts at their convenience. Now, once a CD matures, customers can simply 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.

The new self-service features are the latest digital functionalities that CIT Bank introduced.

Last fall, the bank also rolled out eChecking, featuring a wide variety of electronic transfer and payment solutions, including debit card controls, Bill Pay, Apple Pay, and Samsung Pay, as well as partnering with Zelle, a digital payments network that allows a more convenient way to send and receive money safely.

CIT Bank is the banking subsidiary of financial services company CIT Group. The bank consists of an online bank and its OneWest Bank division, a Southern California branch bank also headquartered in Pasadena, with over 60 locations.

To learn more about CIT Bank, visit www.cit.com/cit-bank.