Tech startups have another heavy hitter in their corner as U.S. Bank, the fifth largest commercial bank in the United States, became a Fintech and Security Anchor Partner with Plug and Play. U.S. Bank will look to collaborate not only with startups in the Fintech sector, but also with those in the IoT, Retail, and Hospitality/Travel sectors. “We are as excited to learn from the startups that use Plug and Play as we are to mentor and partner with these cutting edge companies in the Plug and Play ecosystem,” said Dominic Venturo, chief innovation officer at U.S. Bank. “In addition to building relationships and supporting this important sector, we may work with these companies to incorporate their innovative ideas and solutions with the products and services offered by U.S.Bank.”
U.S. Bank is continually recognized a leader in financial service innovation. The company has brought industry-leading capabilities to customers since 2007. It was one of the first to test contactless payment technology. It was also a leader in implementing photo banking services such as mobile check deposits, mobile photo bill pay, mobile credit card balance transfer and person-to-person payments. Additionally, businesses can speed up in-store card application processes with mobile information capture from a driver’s license and other features piloted at U.S. Bank.
Elavon, the bank's merchant payment processing subsidiary, is a leading provider of payment solutions in the hospitality and travel sectors in the Americas and Europe and leverages collaboration and innovation to deliver cutting edge technology solutions to customers and partners via its customer-centric internal innovation center called "The Grove." The center is focused on harvesting innovation around new technology and product development for customers needing omni-channel solutions.