U.S. Bank names Shruti Patel chief product officer for the business banking segment
September 06 2023 - 10:00AM
Business Wire
Patel joins U.S. Bank from Shopify to drive forward the bank’s
strategy to deliver an integrated banking, payments and software
offering for small business clients
Shruti Patel has joined U.S. Bank as chief product officer for
the business banking segment. In this key leadership role within
the Consumer and Business Banking group, she will be responsible
for delivering an integrated product strategy that connects
banking, payments and software for business clients with up to $25
million in revenue.
Patel brings a remarkable combination of leadership experience
from across fintech, banking and payments. She 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. Patel previously held a variety
of strategy and product management roles within American Express’s
merchant services group.
“We are thrilled to welcome Shruti, a dynamic leader with
immense energy and passion for our business clients,” said Tim
Welsh, vice chair, Consumer & Business Banking for U.S. Bank.
“She will play a critical leadership role in driving forward our
vision to provide simple and intuitive banking and payments
solutions for businesses at every life stage. Shruti’s
multidimensional understanding of the marketplace will be a
tremendous asset as we continue to advance our integrated offering
across banking, payments and software.”
“It has been impressive to see how U.S. Bank is powering the
potential of small businesses at all stages of their journey,” said
Patel. “The bank is an industry leader in bringing an all-in-one
banking and payments offering to its business clients, making it
easier for them to run their finances and operations. I’m
incredibly excited to join the team.”
U.S. Bank currently serves almost 1.4 million business clients
with up to $25 million in revenue, supporting them at every
business life stage – from starting a business to managing and
growing to selling or transitioning. The bank provides a
comprehensive and integrated suite of banking and payments
solutions delivered digitally and through its trusted bankers.
About U.S. Bancorp
U.S. Bancorp, with approximately 77,000 employees and $681
billion in assets as of June 30, 2023, is the parent company of
U.S. Bank National Association. The Minneapolis-based company
serves millions of customers locally, nationally and globally
through a diversified mix of businesses: Consumer and Business
Banking; Payment Services; Corporate & Commercial Banking; and
Wealth Management and Investment Services. Union Bank, consisting
primarily of retail banking branches on the West Coast, joined U.S.
Bancorp in 2022. U.S. Bancorp has been recognized for its approach
to digital innovation, social responsibility, and customer service,
including being named one of the 2023 World’s Most Ethical
Companies and Fortune’s most admired superregional bank. To learn
more, please visit the U.S. Bancorp website at usbank.com and click
on “About Us.”
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version on businesswire.com: https://www.businesswire.com/news/home/20230906779569/en/
Anna Christensen, U.S. Bank Public Affairs & Communications
anna.christensen@usbank.com
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