MINNEAPOLIS--(BUSINESS WIRE)--March 20, 2006--U.S. Bank is
offering a new tool for its business customers that integrates
powerful banking services in an easy-to-use web site. The tool, called
U.S. Bank SinglePoint(R), allows business customers to use a complete
suite of treasury management services from a single point of access.
SinglePoint also makes it easier for U.S. Bank's business customers to
manage their financial position by providing increased efficiency
through flexibility, speed, control and ease of use.
SinglePoint's suite of online services allows business customers
to monitor account activity, retrieve information; create reports and
view images; transfer money via Automated Clearing House, initiate
wire transfers and book and loan transfers; and prevent fraud. It also
contains system administration capabilities including audit and
control of employee access, as well as audit and history reporting.
"U.S. Bank SinglePoint was designed by U.S. Bank's treasury
management team of experts from the perspective of a user," said Mary
Burchette, senior vice president of product management for U.S. Bank
Treasury Management Services. "We worked closely with many of our
customers in developing the solution to make sure it supports business
efficiency. More than 100 businesses participated in the SinglePoint
pilot. We received regular feedback confirming its success -- that
it's intuitive, well thought out and easy to use."
Tektronix, a worldwide provider of communications network
management and diagnostic products based in Beaverton, Ore., was one
of the first companies to use SinglePoint. It advised U.S. Bank on the
development of the issue maintenance service, which the company uses
to quickly add newly issued checks to their Positive Pay check
"U.S. Bank wanted to know exactly what we liked and what we felt
needed to be improved or changed, and we knew our opinions mattered
because we could see them reflected as new functionality was
integrated into SinglePoint," said Patricia Hui, Tektronix treasury
Another early participant was Baird & Warner, a real estate
services provider in Chicago. Through SinglePoint, access to current
information throughout the day has allowed the company to make
adjustments to the day's cash position more quickly and easily. "We
appreciate the frequency of intraday activity and the ability to view
checks that have cleared," said Vicki Klavins, vice president and
controller at Baird & Warner. "We disburse money quickly, so the
ability to know right away if a check is returned is key to keeping
the company running efficiently." SinglePoint makes the month-end
closing process easier for Baird & Warner because the company prints
its check statements directly from U.S. Bank SinglePoint and
reconciles as soon as they are available.
To learn more about SinglePoint, visit www.usbank.com/singlepoint.
U.S. Bancorp (NYSE:USB), with assets of $209 billion, is the 6th
largest financial holding company in the United States. The company
operates 2,419 banking offices and 5,003 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 is the parent company of U.S. Bank.
Visit U.S. Bancorp on the web at www.usbank.com.
CONTACT: U.S. Bank Media Relations
Amy Frantti, 612-303-0733
SOURCE: U.S. Bank