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U.S. Bank Surpasses 1,000th Customer Location on Deposit Tracking System

MINNEAPOLIS--(BUSINESS WIRE)--Jan. 11, 2012-- U.S. Bank recently reached a significant milestone, surpassing the 1,000th customer location on the DTS® Tracking System. The DTS Tracking System allows businesses to monitor their deposits from the time of preparation at their place of business until they are processed and verified at the bank.

With the DTS Tracking System, retailers and other multi-location enterprises can manage multiple store/location deposits from a central location. As a result, identification of missing or late deposits takes place earlier in the process. In addition, deposits that contain discrepancies are identified and resolved faster with the DTS Tracking System functionality. U.S. Bank has offered the DTS Tracking System in partnership with IFS Services, Inc. since October 2009.

“Customers are able to easily research their deposited transactions and identify those that are missed, late or differ from previously reported transaction amounts,” said Jill Natrop, assistant vice president and DTS product manager for the U.S. Bank Global Treasury Management Group.

Earlier this year the availability of the DTS Tracking System was extended to all U.S. Bank cash vault processing sites. “We are pleased to offer the benefits of the DTS Tracking System to customers across our entire cash vault processing network,” said Natrop.

“Managing your deposit process for multiple stores locations becomes much more efficient with the utilization of the DTS Tracking System,” said Lou Salafia, president of IFS Services Inc. “The DTS service provides a wide array of information on the complete life cycle of a deposit, making system-wide efficiency and cost reductions easier to achieve while enhancing process control.”

Oregon Health & Science University (OHSU) currently uses the DTS Tracking System at U.S. Bank. “OHSU has utilized the DTS Tracking System for several years as an independent, multi-point deposit verification system,” said Deborah Todd, treasury director at OHSU. “DTS allows OHSU Treasury to monitor timely and accurate deposits for over 150 collection sites on a daily basis. It also provides annual cash vouching testing for our external auditors.”

U.S. Bank Cash Vault Services offers cash processing at 52 locations across 27 states. The extensive vault network can accommodate cash deposit and change order needs for business customers, correspondent banks, and government entities.

U.S. Bancorp (NYSE: USB), with $330 billion in assets as of Sept. 30, 2011, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The company operates 3,089 banking offices in 25 states and 5,092 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp and its employees are dedicated to improving the communities they serve, for which the company earned the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at www.usbank.com.

DTS is a registered trademark of IFS Services Inc.

Source: U.S. Bank

U.S. Bank
Amy Frantti, Corporate Public Relations, 612-303-0733

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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