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U.S. Bank and Chrome River Strengthen Partnership, Add Benefits for Joint Customers

ORLANDO, Fla.--(BUSINESS WIRE)--Jul. 27, 2015-- U.S. Bank and Chrome River have signed a strategic agreement to create a seamless experience for joint customers of the bank’s business travel payment tools and Chrome River’s expense management solution. The agreement will enable organizations to track expenses, make payments and reconcile all in one place, using one password. It will be the first such integrated process in the industry to include automated statement reconciliation, potentially saving corporate card program managers hours of manual work each month.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150727005826/en/

Bradley Matthews, head of Middle Market Product & Marketing, U.S. Bank Corporate Payment Systems (Ph ...

Bradley Matthews, head of Middle Market Product & Marketing, U.S. Bank Corporate Payment Systems (Photo: U.S. Bank)

“This integrated system will streamline the reconciliation process and create a truly connected experience for our joint customers,” said Dave Terry, chief operating officer (COO) of Chrome River. “Card users will be able to view their statement, complete their expense report, dispute transactions and pay their incidentals without the need to move from one system to another and back. It is a giant step forward for expense and account management.”

U.S. Bank first began referring Chrome River to clients in 2013. The new agreement, announced at the 2015 Global Business Travel Association (GBTA) conference, makes Chrome River U.S. Bank’s preferred provider for expense management solutions and fully integrates their technology systems for joint clients. (The bank will continue to support integration into any expense reporting platform of their customers’ choosing.)

 “We recognize that many of our mid-sized and larger customers seek dedicated expense solutions that are highly sophisticated yet easy to navigate,” said Bradley Matthews, head of Middle Market Product & Marketing for U.S. Bank Corporate Payment Systems. “Chrome River provides just that, combining user-friendliness and agile software design. This agreement will make Chrome River’s secure and efficient expense reporting technologies even easier for our clients to use and greatly simplifies their travel management operations.”

The Chrome River agreement was one of two announced at GBTA as part of U.S. Bank’s strategic initiative to forge alliances that add value to its client relationships. The second announcement was a strategic agreement with Adelman Travel.

About U.S. Bank

Minneapolis-based U.S. Bancorp (NYSE: USB), with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,164 banking offices in 25 states and 5,020 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 www.usbank.com.

About Chrome River

Chrome River Technologies, Inc. provides expense reporting and supplier invoice automation solutions that combine the latest available enterprise and mobile technologies with a team of industry-leading implementation and support experts. Chrome River delivers immediate payback via a “Software as a Service” delivery model that requires no hardware, no software, and no long-term commitment. This service is easily configurable to meet the needs of organizations worldwide with complex expense management policies and collaborative approval processes. Request a demonstration today and locate additional information about Chrome River and its solutions by visiting the company website at http://www.chromeriver.com.

Source: U.S. Bank

Bill Brady, U.S. Bank Corporate Communications
(612) 303-0731, bill.brady@usbank.com
or
Connie Moser, Chrome River Communications
(323) 648-5276, connie.moser@chromeriver.com

"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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