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Kristy Carstensen builds on the belief that a diverse team is strong and agile

Kristy Carstensen never intended to be the business line chief financial officer (CFO) for the fifth-largest bank in the United States. She wanted to work in health care, but an unforeseen pivot brought her to financial services, and she loved it.

“I realized I could have a positive impact on the community at a systemic level and meet my career goals,” Carstensen said.

Named one of the 2023 Most Influential Women in Payments by American Banker, the fourth time receiving the honor, Carstensen has been the business line CFO for U.S. Bank Payment Services since 2018. In her role, she leads efforts to align Payments’ strategy with financial investments that meet the company’s broader goals and vision. 

Her work centers around leading her team of 300 to capture opportunities and remain competitive in an evolving payments landscape. Carstensen builds her team with a strength derived from diversity. 

“I find that a team with experience from across a spectrum to be extremely valuable,” she said. “It’s less about knowing the industry. We can teach the industry. It’s much more about the capabilities each individual can bring to the team to help us continue building a strong foundation.”

Her first years as the business line CFO for Payments were defined by the pandemic. As a result, Carstensen is well versed in the challenges and opportunities presented during that time, when advancements such as digital wallets, real-time payments, embedded payment features and buy now, pay later were fast-tracked into the mainstream.

“I don’t see the dust of those ‘unprecedented times’ settling any time soon,” she said. “The industry is very clear about what it wants, and we are building on that hunger for these advancements.”

Carstensen knows how U.S. Bank shows up as an organization will also be different, believing that businesses will need to keep pace with their customer payment preferences as well as continue to evolve the customer experience.  

“This underscores our need for team members with diverse backgrounds,” she said. “Applying knowledge obtained in other industries and learning from diverse experiences will empower us to be forward thinking, nimble and adaptable — no matter what changes come our way.”