Huntington National Bank Acquires Payments Fintech Torana

Huntington National Bank announced on May 12, 2022, the acquisition of Torana, a fintech company specializing in consumer-facing digital payments. Following the acquisition, Torana's platform was rebranded as Huntington ChoicePay and repositioned to serve commercial sectors, with a particular focus on healthcare payments. The deal allows Huntington to embed advanced digital payment capabilities into its commercial banking services, offering clients more flexible and modern payment acceptance tools.

Financial terms of the acquisition were not disclosed. The move reflects a broader trend among regional banks to acquire payments fintechs to enhance their treasury and merchant services offerings. Huntington ChoicePay is expected to give the bank a competitive edge in digitizing payment flows for enterprise and SME clients across key verticals.