U.S. Bank, one of the largest financial institutions in the United States, has launched U.S. Bank Payroll, an embedded payroll solution designed to streamline how business owners manage finances directly within their online banking dashboard.
The bank introduced the new product in response to growing demand from small business owners for digital tools that reduce administrative burden, according to FF News.
In a recent survey of 1,000 small business owners conducted by U.S. Bank, 80% said they need digital solutions to manage payroll, while 81% expressed a preference for bundled services combining banking, payments, and operations.
U.S. Bank provides a wide range of financial services including deposit accounts, credit cards, loans, treasury management, merchant services through Elavon, and digital business tools such as bill pay, Business Essentials, and Spend Management. Its offering for business clients combines banking, payments, and advisory support from experienced bankers.
The new U.S. Bank Payroll tool integrates payroll directly into the bank’s digital platform. It offers small business owners an all-in-one view across payroll, banking, and payments, while automating tax compliance and simplifying traditionally complex payroll tasks. The system supports payments via ACH or cheque, allows payroll to be run as little as two business days before pay dates, and provides a secure onboarding process for existing clients.
Additional features include time-saving automation, fraud protection, and encryption security, ensuring a seamless and safe digital payroll process. Clients can enable the service in just a few clicks, removing the need for multiple unconnected solutions.
To deliver this product, U.S. Bank partnered with Gusto, a FinTech company specialising in payroll, HR, and benefits solutions for small businesses. The collaboration embeds Gusto’s infrastructure into the U.S. Bank platform, extending the reach of both companies and enhancing the bank’s suite of digital tools.
“With U.S. Bank Payroll, we are making it easier for owners to manage their business,” said U.S. Bank chief product officer, business banking, Shruti Patel. “As small business owners use more software to run their operations, many are juggling multiple unconnected solutions which cost them excess time and money. With U.S. Bank Payroll, clients can manage their payroll right within their online banking dashboard, along with their banking and payments. It’s all seamlessly integrated.”
“Through embedding Gusto’s payroll infrastructure directly into the U.S. Bank platform, we’re making it easier for small businesses to onboard, pay, and support their teams with confidence and compliance. This collaboration brings the power of Gusto’s technology to the broad customer base of U.S. Bank to serve more businesses where and when they need it most,” said Gusto co-founder and chief product officer Tomer London.
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