Digital onboarding and AP automation advancements land respected industry awards

March 16, 2022

U.S. Bank receives two Celent Model Bank 2022 awards. AP Optimizer® and Digital Commercial Onboarding honored for treasury management innovation.


As demand grows for innovative banking technology to improve business processes and treasury management, there is rising pressure to make those innovations accessible and actionable. U.S. Bank has been honored for achieving both of those goals with a pair of Model Bank awards at Celent’s Innovation and Insight Week. 

U.S. Bank has been investing heavily in developing and delivering digital solutions to its treasury management customers. The strong results of its efforts are evidenced by receiving Celent Model Bank 2022 awards for AP Optimizer® and Digital Commercial Client Onboarding.

“This is really gratifying recognition for us,” says Richard Erario, head of Global Treasury Management for U.S. Bank. “We’ve been laser-focused on developing and delivering digital treasury management solutions to businesses of all sizes and making it easier for our customers to do business with us. It’s nice to see those efforts validated with these Model Bank awards.”

Celent’s annual award program recognizes financial institutions as ‘model banks’ for their outstanding technology initiatives. Nominees must demonstrate clear business benefits, innovation, and technology or implementation excellence. Celent is a global research and advisory firm for the financial services industry that has presented the Model Bank awards for 15 years.


Read the Celent Model Bank 2022 award case studies:


About Digital Onboarding

In a world where you can order just about anything on the device of your choice, U.S. Bank gives clients the ability to track the progress of their complex treasury implementations the same way they track package deliveries. Celent cited U.S. Bank for “its collaborative, agile approach to the transformation of onboarding and fulfilment processes into a digital shopping cart experience.”

Available via the bank’s SinglePoint® platform, the Digital Onboarding offering includes a digital dashboard, collaborative message board, back office automation, and simple file exchange capabilities that can be used by implementation project managers and senior executives, enabling all stakeholders to monitor the status of their implementations, streamline communication, resolve problems faster and get onboarded quicker.

“It has succeeded at enabling customers to evaluate, buy, track, and fulfill banking products/services quickly, simply, and transparently,” Celent says. “In addition, bank employees can also track and fulfill digitally as well as leverage back-office automation.”


About AP Optimizer

AP Optimizer is a single-system accounts payable (AP) automation solution that integrates into an organization’s ERP, spans the entire invoice-to-payment process, provides comprehensive security and fraud prevention technology, and provides access to an extensive supplier network. It optimizes the AP workflow to deliver measurable operational efficiencies as well as fraud mitigation while generating revenues for the client’s AP department through rebates on ACH and card payments.

Celent’s case study identifies these benefits:

  • Reducing time spent and costs associated with AP invoice processing and payment disbursement
  • Speeding migration from checks to electronic payments
  • Creating rebate opportunities
  • Improving working capital management

“Celent has been advocating that banks move towards a value-add strategy that delivers operational efficiencies and better decisions,” the case study says. “U.S. Bank is embracing this strategy and is already realizing an increase in strategic, consultative conversations with clients.”


Previous awards

U.S. Bank Digital Onboarding was previously honored by global research advisory firm Aite Group as the “Customer Experience” winner of its 2020 Impact Innovation Award in Cash Management and Payments. The innovative onboarding solution also earned “Highly Commended” honors for Best Digital Initiative at the 2020 Banking Tech Awards presented by FinTech Futures.


Read the Celent Model Bank 2022 award case studies for AP Optimizer and Digital Commercial Client Onboarding. To learn more, watch our webinar on the future of digital onboarding, visit our AP Optimizer page, or contact us to schedule a demo.

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