US Bank acquires Talech to help drive digital transformation
US Bank has acquired Palo Alto-based software company Talech as part of its strategy to provide more digital expertise to customers, reports Jane Connolly.
Talech provides a point-of-sale (POS) system that currently helps more than 8,000 restaurants, retailers and professional services firms to integrate operational tasks – such as order and customer management, payment processing and reporting – into a single, integrated solution. The company claims a processing volume of $2.3 billion.
Financial details of the deal have not been disclosed, but Talech will join US Bank’s new digital team, led by chief digital officer, Derek White.
He says: “Small businesses are a focal point for us as we transform how US Bank engages with customers and how our customers interact with their money, making it easy for them to make decisions at the moment they come into contact with our technology. We have an ambitious roadmap to deliver one amazing experience for our customers.”
White adds that strategic acquisitions are part of the bank’s strategy to move with speed and scale.
