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U.S. Bank has unveiled the Connected Partnership Network, an online marketplace offering third-party payment and treasury solutions that are fully integrated with its systems, on Thursday. The initiative was designed to help corporate treasury teams identify and adopt technology related to the bank in a more efficient and secure manner.
The platform will allow businesses, fintechs, and other parties to develop applications powered by U.S. Bank Payment Services and deliver them through the network service. Companies will also be able to determine which of their existing tech services are already integrated into the Connected Partnership Network, opening up opportunities to connect to U.S. Bank payments within their existing systems seamlessly.
The launch of the Connected Partnership Network is the latest example of the bank’s embedded payments strategy, delivering U.S. Bank capabilities within applications already used by businesses. By using integrated network partners, businesses can reduce the time and resources needed to implement treasury management solutions through embedded banking.
“Businesses are increasingly looking for ways to gain efficiency and streamline their processes,” said Rich Erario, head of Global Treasury Management at U.S. Bank. He added that their vision is to deliver integrated, real-time payment solutions for a quick and seamless experience.
To automate and optimize cash management, companies can access a variety of integrated services that deliver emerging technologies. Moreover, third parties can integrate with U.S. Bank more easily on behalf of mutual clients, including integrations with ERP systems, accounts payable and receivable systems, and treasury management systems.
Access to the Connected Partnership Network requires visiting the financial institution’s website. Businesses will be able to streamline their embedded payment and cash management experiences with integrated products from multiple U.S. Bank Global Treasury Management partners. New collaborations are expected to go live soon.
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