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US Bank to scale up digital operations via Talech acquisition

Derek White, Chief Digital Officer, US Bank

US Bank has completed the acquisition of California-based software firm Talech that helps small and medium-sized businesses in simplifying operations and decision-making through an integrated point-of-sale (PoS) system.

Financial terms of the deal have not been disclosed. With the acquisition, the bank is eyeing expansion of its digital services by boosting customers’ interaction with technology.

Talech provides software that allows businesses to manage multiple operational tasks such as order management, inventory and staff reporting, customer management, business insights and payments processing, in a single, integrated point-of-sale system.

“Small businesses are a focal point for us as we transform how U.S. Bank engages with customers and how our customers interact with their money, making it easy for them to make decisions at the moment they come into contact with our technology,” Derek White, chief digital officer (CDO), US Bank said.

Launched in 2012, Talech has its headquarters in Palo Alto, California. The company serves over 8,000 restaurants, retailers and professional services companies representing $2.3 billion in processing volume, the supplier said in a statement.

US Bank has been in payments and money movement business for more than 20 years. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online options for better and convenient customer service.

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