Notable mobile innovation initiatives at U.S. Bank include:
- Photo Banking: “Photo Banking” has become a common term across the banking industry, thanks to the leadership of U.S. Bank and Badarinath’s mobile banking team. What began in 2010 when U.S. Bank was one of the first major banks in the nation to bring mobile check deposits to customers, has grown to include other ways of using imaging to enhance the customer experience, and provide innovative new capabilities: U.S. Bank launched Mobile Photo Bill Pay in March 2013, and Mobile Photo Balance Transfer in November 2013.
- Pay-a-Person: U.S. Bank has made significant customer experience and functional enhancements to its person-to-person (P2P) product. Called “Pay-A-Person,” this builds on the core P2P capability, delivered using Fiserv’s POPMoney, and adds key features like “Send-to-Account” “Request Money,” and “e-Greetings.” U.S. Bank also introduced faster ways of moving money, adding the “Next Day Payments” feature in November 2013 and “Real-Time” or Instant P2P in February 2014. This last feature, the first of its kind among major banks, delivers funds to the recipient instantly.
- Mobile Payments: In collaboration with our payments innovation team, Badarinath’s team has worked on recent advances in mobile payment innovations including pilot projects in voice biometrics, augmented reality to provide location-aware offers from participating merchants, digital tokenization that increases the security of personal data when making purchases via mobile device, mobile wallets, and streamlined m-commerce through the bank’s up-and-coming app, Peri.
About U.S. BankU.S. Bancorp (NYSE: USB), with $371 billion in assets as of March 31, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,083 banking offices in 25 states and 4,878 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at usbank.com.