Shruti Patel joined U.S. Bank as chief product officer for the business banking segment. Patel was most recently head of global product partnerships and monetization at e-commerce company Shopify. Prior to that, she was head of embedded payments and partnerships at JPMorgan Chase.
Sekou Kaalund joined U.S. Bank in the newly created role of head of branch banking, a leadership role within consumer and business banking responsible for U.S. Bank’s more than 2,200 branches as well as its consumer and small business bankers spread out across 26 states.
U.S. Bank entered into an agreement to acquire Bento Technologies, known as Bento for Business, a financial technology company based in Chicago and San Francisco that provides payment and expense management services to small and mid-size businesses.
U.S. Bank created a new, fully digital option for small businesses to apply for and receive a loan or line of credit. Single owner businesses can quality for up to $250,000 through the all-digital process.