Truist Announces Significant Multi-Year Investment in High-Growth Markets

Truist Financial Corporation (NYSE: TFC) today announced a significant strategic growth investment over the next five years to attract new and grow existing client relationships in some of the strongest growth markets in the country. The investments include building 100 new insights-driven branches, renovating more than 300 branches in high-opportunity markets, enhancing digital capabilities and hiring additional Premier advisors to serve clients with more complex financial needs.

“This significant investment demonstrates Truist’s continued commitment to grow with our clients at every step of their financial journeys and strengthen market share in some of the most dynamic areas of the country,” said Truist Chairman and CEO Bill Rogers. “Our strong capital position and momentum enable us to invest confidently in our growth strategy and fulfill our purpose to inspire and build better lives and communities.”

New insights-driven branch models

Over the next five years, Truist will grow and optimize its comprehensive branch network through 100 new insights-driven branches and more than 300 branch renovations in high-growth and economically vibrant markets including, Atlanta; Austin; Charlotte; Dallas; Miami; Orlando, Florida; Philadelphia; and Washington, D.C. Strategically located in markets with the greatest potential to attract and deepen relationships with mass affluent clients, these new branch models will be optimized with smart design, integrated technology and modern layouts to create dedicated space for conversations with Premier advisors.

“At Truist, we’re creating an experience that is digitally empowering and deeply relational to help our clients achieve financial success,” said Truist Chief Consumer and Small Business Banking Officer Dontá Wilson. “These investments accelerate our ability to provide clients with proactive, AI-driven digital insights and data-informed, tailored advice in our branches, including comprehensive financial planning personalized for Premier Banking clients.”

Truist is also creating additional capacity to better serve mass affluent clients by hiring additional Premier advisors across multiple markets and repurposing the virtual sales center to focus on acquiring and deepening relationships with this strategically important client segment.

Delivering a more distinctive client experience
Today’s announcement builds on a series of current and future investments to deliver a more distinctive client experience and grow with our clients, including:

• Driving a more personalized and connected experience across client channels through AI-driven analytics to deliver tailored and real-time insights, information and marketing offers to individual clients within the digital and branch experience
• Providing a client-friendly fraud prevention and resolution experience including an innovative digital and in-branch ID verification tool and AI models to continuously analyze anomalies, identify potential threats and detect malware across account openings and payment transactions
• Averaging nearly half a million conversations per month through Truist Assist, our AI-enhanced digital assistant, to help clients quickly get answers to the most asked questions with the option to be seamlessly transferred to a teammate
• Delivering more than 550 million personalized, real-time financial insights per year through our AI-driven Truist Insights platform, available in mobile and online banking, to help clients with cash-flow summaries, income and expense analysis, proactive balance monitoring, managing subscriptions and more
• Developing Truist Client Pulse, an internally developed, patent-pending AI tool, which will aggregate client feedback across millions of conversations — delivering holistic insights and trend analysis to quickly identify and address client behaviors and challenges
• Enhancing digital tools and capabilities including smarter scheduling tools for appointments; a more intuitive account opening process with onboarding self-service capabilities; and access to digital planning and tracking tools for financial empowerment
• Bolstering our consumer payments capabilities for Zelle, Bill Pay and digital money transfers
• Offering the award-winning LightStream unsecured lending solution through Truist.com and in our branch experience later this year
• Modernizing one of the most comprehensive and convenient networks of ATMs in our markets with the ability to provide a more “mobile-like” personalized experience including tailored offers and multi-denominational withdrawals