back Back

U.S. Bank introduces AP Optimizer; digitally transforms invoice-to-pay process

By Pavithra R

November 11, 2020

  • U.S. Bank
  • USA

U.S. Bank unveils AP Optimizer; digitally transforms invoice-to-pay process
Jeff Jones, head of Corporate Payment and Treasury Solutions for U.S. Bank

U.S. Bank, the fifth-largest bank in the country has announced introducing AP Optimizer, a digital tool that simplifies and transforms invoice processing and payments for businesses within a single system. 

AP Optimizer is a single system that automates the entire invoice management and payment disbursement process. It empowers organizations to reduce costs, create rebate opportunity and better manage working capital. It connects businesses to the established Bottomline Paymode-X network of 425,000 suppliers.

“AP Optimizer is a big win for our customers and is part of our strategy to provide an integrated offering to manage Accounts Payables. Our customers will have the ability to transform workflows and payments to a digital solution with improved visibility, embedded security and fraud mitigation tools,” said Jeff Jones, head of Corporate Payment and Treasury Solutions for U.S. Bank.

AP Optimizer’s features include:

  • Automating invoice processing from receipt through capture, matching, coding and approvals
  • Disburse virtual card, ACH, wire and check payments from the same system
  • Simplifies reconciliation while gaining greater control over working capital
  • Monitors workflow progress from invoice receipt through payment within the same system
  • Easy-to-use dashboards and real-time reporting to broaden enterprise-wide oversight

Businesses can commence paying suppliers in the network upon implementation. And, by integrating with Enterprise Resource Planning (ERP) platforms, customers can eliminate costly manual processes through the migration to electronic payment methods like ACH, virtual cards,and wires while also having an opportunity to earn rebates.

“The combination of connecting our organization with a large B2B electronic payment network, and the ability to have an integrated payables solution offering both virtual pay and ACH leveraging our existing ERP system, made AP Optimizer the obvious solution for us. Not only will we see the benefit of eliminating our paper processes, but U.S. Bank will handle the heavy lifting for us with vendor outreach and enrollment. And, we gained peace of mind from built-in fraud protection delivered by a trusted bank partner,” said Mitchell Watson, vice president and CFO of Carson Tahoe Health.

Established since 1863, U.S. Bancorp with more than 70,000 employees and $540 bn in assets as of Sept 30, 2020, is the parent company of U.S. Bank National Association, one among the largest commercial bank in the United States. 

Previous Article

November 10, 2020

4 top popular Asian FinTechs enabling innovations in finance

Read More
Next Article

November 11, 2020

Sound Credit Union partners with ModusBox to integrate Zelle

Read More

IBSi Daily News Analysis


April 18, 2024

U.S. Bank

GCC banks bolster Cybersecurity measures to combat email fraud

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Cashflows partners with National Association of Funeral Directors

Read More


Ant International set to create digital business centre in Malaysia

Read More


Opn appoints Vaden Landers as President and CEO of MerchantE

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023