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
amy.frantti@usbank.com
