US Bank Names Payment Services CFO Kristy Carstensen to Lead Global Treasury Management

U.S. Bank has appointed Kristy Carstensen, who was formerly its chief financial officer of Payment Services, as the new leader of its Global Treasury Management business.

In her new role, Carstensen will also oversee the bank’s prepaid card organization, U.S. Bank said in a Monday (Nov. 25) press release.

“Kristy’s leadership has been instrumental in our ability to continually improve the payment experience for our clients and their customers,” Shailesh Kotwal, vice chair of Payment Services, U.S. Bank, said in the release.

“Global Treasury Management is at the center of our efforts to deliver interconnected banking and payment solutions to help our clients operate more efficiently,” Kotwal said. “Kristy is well-positioned to drive this forward.”

In addition to her previous role as CFO of Payment Services, Carstensen has also served as strategic capital management executive and CFO of Community Development Corp. during her 13 years with the bank, according to her LinkedIn profile.

“The clients we serve are all in the midst of major transformation and are looking for payment technology and innovation to deliver efficient, simple, secure and seamless payment execution to and from customers, employees and vendors,” Carstensen said in the release. “We are going to work every day to make sure we are consulting with our clients and delivering the solutions they need to elevate efficiency, reduce risk and improve experiences throughout the payments process.”

US Bancorp CFO John Stern said during an October earnings call that the bank will see growth in its payments business in the fourth quarter as corporate spending increases.

During the same call, US Bancorp CEO Andrew Cecere said the bank is realizing “the benefits of our now run rate investment spend on industry leading digital capabilities, integrated payment solutions and continued technology modernization.”

On Nov. 21, U.S. Bank and insurance industry payments network One Inc announced a partnership that integrates U.S. Bank’s money movement and banking capabilities with One Inc’s solutions for property and casualty (P&C) and life insurers.

On Nov. 18, the bank launched a travel booking platform for its credit card holders. Powered by Rocket Travel by Agoda’s booking technology and travel planning expertise, the new U.S. Bank Travel Center with Booking.com lets cardholders reserve flights, rental cars and hotels.