U.S. Bank is launching its new eBill Service in collaboration with FinTech firm Alacriti to offer billers and payers simplified, faster payments, the bank said in a press release on Thursday (Oct. 17).
The service aims to modernize operations for billers and offer flexible payment options — such as Intelligent Voice Response (IVR) — for payers.
“U.S. Bank eBill Service helps billers get paid faster by giving customers simple, secure ways to make payments how, when, and where they want,” said U.S. Bank Executive Vice President and Head of Global Treasury Management Rich Erario. “Flexible and efficient digital payment options provide important working capital benefits for our clients. To deliver these capabilities and the best service, we teamed up with Alacriti, an organization that shares our commitment to payments innovation.”
The new eBill Service is available to industries servicing consumers and small businesses. The platform has built-in data and privacy safeguards and “meets standards for PCI DSS, HIPAA / HiTech.” The website is also ADA WCAG 2.0 compliant.
“Alacriti is proud to collaborate with U.S. Bank, a recognized leader in faster payments, to introduce this enhanced e-billing solution to U.S. Bank’s commercial and corporate clients,” said Alacriti Co-Founder and CEO Manish Gurukula.
U.S. Bank parent company U.S. Bancorp is the fifth-largest commercial bank in the United States. As of September, the bank showed $488 billion in assets and 74,000 employees.
Derek White, the chief digital officer at U.S. Bank, said at the time that the acquisition is one of several ways U.S. Bank is boosting its digital expertise in an effort to provide better service to its customers. As part of the deal, talech will join the bank’s newly formed digital team, which is led by White.