HP today announced that U.S. Bank, a subsidiary of U.S. Bancorp (NYSE: USB), has enhanced its treasury management offerings by introducing a global wire transfer system based on HP technology.
HP and its partners worked closely with U.S. Bank to develop new business services for the system, which enhances international wire capabilities, improves operational efficiency and increases productivity.
The global wire transfer system is based on the HP NonStop Payments solution, a combination of hardware, software and services that helps payment and other IT systems to adapt quickly, easily and economically to rapidly changing business needs.
"U.S. Bank now offers customers improved functionalities that were not possible with our old system," said Caroline Fortmeyer, senior vice president, Corporate Services, U.S. Bank. "Working with HP, the transition was smooth and we have a newly streamlined, high-speed processing environment for our customers' domestic and international wires."
Delivered by HP Services, U.S. Bank’s system is powered by the reliability, scalability and sub-second response time of HP NonStop servers – the core of HP NonStop Payments – to offer a faster and more efficient wire transfer process. The solution, developed with HP partners Software Integrators and Lighthouse Systems, Inc., also handles applications such as Federal Reserve Book-Entry, compliance, advising, corporate customer payment entry and reporting.
"U.S. Bank is an excellent example of a financial institution that is at the forefront of payments technology, aligning business with IT to capitalize on changes in its industry," said Chip Greenlee, director of marketing and solutions, Financial Services Industry – Americas, HP. "U.S. Bank is poised to offer one of the highest levels of service-oriented architecture security available and it is on the path to reduce overall delivery costs."