U.S. Bank Partners With Microsoft to Accelerate the Future of Banking With Cloud Computing
22 Fevereiro 2022 - 11:00AM
Business Wire
Companies join forces to drive U.S. Bank’s
transformation to the cloud with Microsoft Azure, build foundation
for new experiences for customers and employees
U.S. Bank today announced a substantial investment in
modernizing its technology foundation through the selection of
Microsoft Azure as its primary cloud provider for U.S. Bank
applications. Powering the majority of its infrastructure and
application portfolio with cloud computing will allow U.S. Bank to
modernize how it works in an increasingly digital world – including
the ability to rapidly access and analyze data, expediting time to
market while more quickly scaling innovative products to customers
and partners, and empowering its increasingly agile workforce.
U.S. Bank and Microsoft will work to develop new growth
opportunities that will allow U.S. Bank to expand its partnerships
and take advantage of an ever-evolving financial services
marketplace. Through this significant technology investment,
artificial intelligence and machine learning will transform
applications and infrastructure to create compelling, personalized
and leading-edge experiences. The transition to the cloud will also
further improve the security of data, financial assets and customer
privacy while adding resiliency for the bank and strengthening
technology risk management.
For customers, this means that more tools can be developed to
help them easily bank how and where they want and to move money
quickly. For partners, this means they’ll be equipped to better
meet their clients’ financial needs and provide the best digital
experience by further leveraging of Application Programming
Interfaces (APIs) and access to real-time data.
“It has been a dramatic time of change in the banking industry,
where success is increasingly driven by technology capabilities,”
said Andy Cecere, Chairman, President and CEO of U.S. Bank. “Our
clients expect and require extreme flexibility and a bank that is
simple to navigate and capable of quickly adjusting to their
evolving needs. Building on our initial investments in cloud and
with the success of our technology and digital modernization, we
gained the competence and confidence to accelerate our efforts to
better serve our customers. Our cloud-first approach with Microsoft
Azure will help us accomplish just that.”
"More than ever, every financial services organization will need
to build its own digital capability to meet both evolving customer
demands and changing employee expectations," said Satya Nadella,
Chairman and CEO of Microsoft. "As U.S. Bank's primary cloud
provider, we will apply the power of Azure to help the company
adapt and build new, secure experiences for customers and employees
in the era ahead.”
While U.S. Bank believes that the opportunity to have meaningful
in-person conversations with a banker in a branch will remain
important, the adoption of digital banking has accelerated
significantly during the COVID-19 pandemic. At the end of 2021, 81
percent of U.S. Bank consumer transactions were done online or by
using the highly-rated U.S. Bank Mobile app, up from 70 percent in
2019. Two-thirds of loan sales were also done online, an increase
of more than 45 percent in two years.
“Partnering with Microsoft accelerates our pace of innovation,”
said Dilip Venkatachari, U.S. Bank’s Global Chief Information &
Technology Officer. “This transformation will allow us to increase
the velocity of change, to deliver new products and services much
faster, and create richer, more personalized experiences. By
automating many of our core engineering, security and risk
processes, this transformation will greatly improve our developer
productivity and experience. Our teams will be able to work more
iteratively on projects with high impact that are able to scale
instantly on the elastic capabilities of cloud technology.”
Bringing embedded payments capabilities to life for
customers
U.S. Bank and Microsoft will partner to create new innovations
and value for businesses. As strategic partners, the companies will
look for further opportunities to embed U.S. Bank payment
capabilities across Microsoft platforms that businesses use
regularly, making it easier for business customers to generate
invoices and to send and receive payments.
Some of these capabilities are already functional and many more
will go live in 2022 and 2023. For example, today, some heavy
machinery dealers that use Microsoft Dynamics 365 can accept and
process payments through U.S. Bank’s merchant processing business,
Elavon. These convenient business payments capabilities will reduce
friction, decrease the time needed for a business to receive
payments and allow business owners to optimize cash flow and focus
on serving their customers.
Consolidation and collaboration
U.S. Bank will consolidate its physical data center footprint as
it continues to optimize its cost structure. In addition, as part
of its long-term relationship with Microsoft, U.S. Bank has also
embraced Microsoft 365 and Microsoft Teams to enable seamless
collaboration and communication between employees in today’s hybrid
work environment. U.S. Bank will continue to use multiple public
cloud providers for redundancy and to leverage the different kinds
of investments that have been made by leading cloud providers.
About U.S. Bank
U.S. Bancorp with nearly 70,000 employees and $573 billion in
assets as of December 31, 2021, is the parent company of U.S. Bank
National Association. The Minneapolis-based company serves millions
of customers locally, nationally and globally through a diversified
mix of businesses: Consumer and Business Banking; Payment Services;
Corporate & Commercial Banking; and Wealth Management and
Investment Services. The company has been recognized for its
approach to digital innovation, social responsibility, and customer
service, including being named one of the 2021 World’s Most Ethical
Companies. Learn more at usbank.com/about.
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version on businesswire.com: https://www.businesswire.com/news/home/20220222005087/en/
Investor contact: Jennifer Thompson, U.S. Bancorp Investor
Relations jen.thompson@usbank.com, 612.303.0778, @usbank_news
Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and
Communications jeffrey.shelman@usbank.com, 612.303.9933,
@usbank_news
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