City National Bank of New Jersey and online payments platform PayToo have announced a partnership to launch a mobile wallet designed for bank customers as well as unbanked consumers. The partnership will give users the security of FDIC insurance and the convenience of a mobile wallet. PayToo allows users to perform online banking, deposit paychecks, pay bills and transfer money person to person. The partnership also gives users access to the PayToo network of cardless ATMs and multi-service centers as well as City National Bank’s network of 55,000 surcharge free ATMs. “Innovation in financial services is [bringing] people better ways to manage their finances,” said Preston Pinkett, chairman and CEO of City National Bank. “[We] see our partnership with PayToo as the way banking will work in the future.”