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U.S. Bank AP Optimizer Named 2016 New Product of the Year for Business Services

New accounting and payment innovation is recognized by Business Intelligence Group

MINNEAPOLIS--(BUSINESS WIRE)--Nov. 10, 2016-- The U.S. Bank AP Optimizer has received the Business Intelligence Group’s BIG Award for Business as 2016 New Product of the Year in the Business Services category. The organization’s annual program rewards companies, products and people that are leading their respective industries.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161110005264/en/

The AP (Accounts Payable) Optimizer, built in partnership with cloud accounting software leader Sage and Mastercard, marries practical, cost saving information – like the best time to pay bills and the best method for payment – with easy-to-execute action to help U.S. Bank business customers maximize cash flow. It is the first truly digital accounting and payment solution that enables small and medium businesses to manage cash flow in near real-time. Users can act on the tool’s recommendations from any computer or mobile device.

“The AP Optimizer is bringing our clients a new level of timely control over their cash flow,” said Bradley Matthews, head of Middle Market Product & Marketing for U.S. Bank Corporate Payment Systems. “We are proud of our joint Sage-U.S. Bank development team for the ingenuity and passion they showed in bringing this innovation to market, and we are gratified to the competition judges for recognizing the great work that was done.”

U.S. Bank customers have exclusive access to the AP Optimizer’s Consolidated Payables tool, which streamlines multiple payment methods such as check, virtual card, ACH and wire into one simple and efficient process. However, any Sage Live customer can gain insights from the Optimizer’s comparative data, which shows how their organization stacks up against its peers and best-in class performers. It includes a calculation of the savings or additional revenue that could be realized by making specific changes.

“Differentiation is a common theme among many of our winners, and we hope that trend continues,” said Russ Fordyce, managing director of the Business Intelligence Group. “Modern companies are now relying on their customers for inspiration and direction to improve and launch new products. We are so proud of all of the winners this year. It is truly a select group.”

©2016 U.S. Bank National Association

About U.S. Bank (www.usbank.com)
Minneapolis-based U.S. Bancorp (NYSE: USB), with $454 billion in assets as of September 30, 2016, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,114 banking offices in 25 states and 4,875 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions.

About Sage (www.sage.com)
Sage is the market leader for integrated accounting, payroll, and payment systems, supporting the ambition of the world’s entrepreneurs. Sage began as a small business in the U.K. 30 years ago, and over 13,000 colleagues now support millions of entrepreneurs across 23 countries as they power the global economy. We reinvent and simplify business accounting through brilliant technology, working with a thriving community of entrepreneurs, business owners, tradespeople, accountants, partners and developers. And as a FTSE 100 business, we are active in supporting our local communities and invest in making a real difference through the philanthropy of the Sage Foundation.

About Mastercard (www.mastercard.com)
Mastercard (NYSE: MA) is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

About Business Intelligence Group (www.bintelligence.com)
The Business Intelligence Group was founded with the mission of recognizing true talent and superior performance in the business world. Unlike other industry award programs, business executives—those with experience and knowledge—judge the programs. The organization’s proprietary and unique scoring system selectively measures performance across multiple business domains and then rewards those companies whose achievements stand above those of their peers.

Source: U.S. Bank

U.S. Bank Corporate Communications
Bill Brady, 612-303-0731 (o)
651-728-224 (m)
bill.brady@usbank.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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