US Bank Freight Payments Integrate With project44
Third-party logistics technology provider project44 is integrating payments capabilities as a result of its partnership with U.S. Bank. In an announcement on Wednesday (Feb. 27), project44 revealed...
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Why Retail Banking Needs a Reputation Rehab
Most consumers probably don’t have strong opinions about their banks, since the relationship tends to be more transactional than emotional. However, in the 2019 Retail Banking Report, a study by...
View ArticleUS Bank Buys Talech To Boost Digital Expertise
U.S. Bank announced that it has acquired talech, a software company that offers an integrated point-of-sale (POS) system for small and medium-sized businesses (SMBs). Financial terms of the deal, which...
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U.S. Bank: Machine Learning Is Banks’ Best Bet Against Fraud
Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and the losses are set to further increase as this year progresses. ATO and other fraud methods that rely on using stolen...
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How US Bank Is Using Machine Learning To Tackle Fraud
Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked...
View ArticleUS Bank Partners With Alacriti To Roll Out Simplified eBill Service
U.S. Bank is launching its new eBill Service in collaboration with FinTech firm Alacriti to offer billers and payers simplified, faster payments, the bank said in a press release on Thursday (Oct. 17)....
View ArticleFinserv Players Multitask With B2B Billers And Payers
Corporate financial services providers taking aim at accounts payable friction this week pulled double-duty with new tools that also addressed friction for clients’ suppliers. It’s a multitasking...
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What U.S. Bank Is Doing To Drive Virtual Card Adoption
Many accounts payable (AP) professionals turning to electronic payments to streamline their companies’ payment processes — specifically, how they pay invoices from suppliers — are putting virtual...
View ArticleTop News in Payments: UK FCA Asks Banks To Explain High Overdraft Fees;...
In today’s top payments news, the U.K.’s Financial Conduct Authority (FCA) is questioning banks about a recent spike in overdraft fees, Yandex launches 15-minute grocery delivery in Moscow and Casper’s...
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Banking On Consumer-Centric Strategies To Spur Virtual Card Adoption
Virtual cards have been spreading across the B2B payment space because of their cost-saving benefits for both companies and suppliers. These cards’ account numbers correspond with certain vendors, and...
View ArticleCorporate Cards Tackle Industry-Specific Pain Points
Commercial cards continue to explore more use cases to optimize spend for businesses, from accounts payable (AP) to employee travel and expense management. Increasingly, the corporate card industry is...
View ArticleKobe Bryant, Virtual Cards, Self-Service Technology Top This Week’s News
It’s the end of the workweek, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into virtual card adoption and...
View ArticleEx-US Bank Risk Officer Fined Over AML Compliance
The Financial Crimes Enforcement Network (FinCEN) has fined Michael LaFontaine, former chief operational risk officer at U.S. Bank, a subsidiary of U.S. Bancorp, with a $450,000 civil penalty for his...
View ArticleUS Bank Teams With Fiserv To Streamline Data Transfers
U.S. Bank and the FinTech Fiserv are collaborating to streamline data sharing so customers can easily connect their financial information with their preferred third-party app, the companies said in a...
View ArticleLawsuits Allege Banks Played Favorites With PPP Loans
Separate class-action lawsuits were filed against Wells Fargo, Frost Bank, JPMorgan Chase, US Bancorp and Bank of America, alleging that the financial institutions (FIs) unlawfully prioritized their...
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U.S. Bank Partners With LiquidX to Fast-Track Supply Chain Transactions
In an effort to make supply chain dealings faster and easier, U.S. Bank is partnering with trade finance FinTech LiquidX to facilitate transactions between buyers and sellers. “With so many...
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Corp Clients Look to Banks for Digital Boost
Businesses across all industries have focused more on digital innovation since the start of the pandemic. A recent PYMNTS survey found that over 70% of middle-market U.S. companies have accelerated...
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CFPB Slaps U.S. Bank With $37.5M Fine Over Unauthorized Accounts
The Consumer Financial Protection Bureau (CFPB) hit U.S. Bank with a $37.5 million consent order for illegally accessing customers’ credit reports and personal information to open accounts without...
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CFPB Fine Prompts Senators to Demand More Info From US Bank
Several Democratic senators fired off a letter to U.S. Bank CEO Andrew Cecere demanding additional information after the Consumer Financial Protection Bureau (CFPB) fined the financial institution (FI)...
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US Bank Helps Car Dealers Deliver Instant Funding
U.S. Bank can now provide loan funds to car dealers immediately after a loan contract is finalized by the bank, according to a Tuesday (Aug. 9) press release. The bank has helped more than 800 auto...
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