US Bank acquires talech to simplify operations

US Bank has acquired talech, a Palo Alto-based software company that supports small and medium-sized businesses to simplify operations and make better decisions within an integrated point-of-sale system.

This acquisition is one of the many ways US Bank is developing its digital expertise to provide value when and where customers communicate with technology.

"Small businesses are a focal point for us as we transform how US Bank engages with customers and how our customers interact with their money, making it easy for them to make decisions at the moment they come into contact with our technology," said Derek White, chief digital officer at US Bank.

"We have an ambitious roadmap to deliver one amazing experience for our customers. Strategic acquisitions are one of the ways we are moving with speed and scale. Acquiring talech makes a lot of sense for several reasons, not the least of which is we share a vision for helping businesses simplify their operations and make better decisions through an integrated point-of-sale system," said White.

talech  will join the newly formed Digital team led by White, who joined US Bank earlier this year as part of the company's on-going digital transformation. The acquisition closed on September 9, 2019. Financial terms are not disclosed.