US Bank 2003 Annual Report Download - page 17

Corporate Payment Systems is at the forefront of payment providers,
using leading technology and expertise to automate the entire payment continuum
for commercial buyers and sellers. Card solutions like One Card, Corporate Card,
Purchasing Card and Fleet Card provide flexible solutions for classic payables,
while PowerTrack adds increased control and sophisticated pre-payment audits
With a compelling investment in the industry’s best technology, our Transaction
Services is the hub of electronic payments transactions for all U.S. Bancorp ATMs,
as well as ATMs, credit and debit cards, merchant processing, and the electronic
funds transfer network gateway for other financial institutions, through Elan
Financial Services. With expertise, technology, economy of scale and existing
potential still within our markets, this is a full-service, start-to-finish business with
growth expectation.
Diverse U.S.Bancorpnational businesses serve customers
coast to coast. U.S. Bank is a leading financial resource for local and state
government, political sub-divisions and the federal government through our
Government Banking business. We are one of the largest tax payment
processors for the U.S. Government, and we provide a wide range of financial
services for the Department of Defense, as well as web and lockbox collection
services for the U.S. Department of Homeland Security.
Mortgage Banking originates loans in all 50states. We are targeting
becoming a Top 10mortgage provider through expanded sales efforts nationally
and also the extension of our Mortgage Banking as a primary line of business
into our western markets.
With expertise to support the nation’s largest corporations, specialized industries
and our middle market customers, Corporate Banking provides services to
meet the most complex transactional, credit, financial management, international
financing and exchange, and risk mitigation needs. We are also a national leader
in treasury management services. Our relationship-based model succeeds on the
experience of our managers, the economies of scope and scale derived from our
size and geography and our commitment to cost management.
As the leading provider of municipal trust services and a top provider of corporate,
escrow and structured finance services, Corporate Trust Services brings an
unrelenting commitment to exceeding expectations by providing the right solutions
at the right time for customers nationwide.
U.S.BancorpAsset Management leverages the multiple distribution
channels and broad geographic range of U.S. Bank to deliver the First American
family of mutual funds, which encompasses a full range of equity and fixed
income investment strategies. We are a performance-driven culture of expanding
non-proprietary distribution, and we continue to promote U.S. Bancorp Asset
Management to prospective customers nationwide.
National
Businesses
Asset Management
Commercial Real Estate
Consumer Lending
Corporate Banking
Corporate Payment Systems
Corporate Trust
Elan Financial Services
Equipment Financing
Fund Services
Government Banking
Institutional Custody
Mortgage Banking
NOVA Information Systems
Retail Payment Solutions
Transaction Services
for complex business-to-business procurement processes.
Our Retail Payment Solutions business is unique among large card issuers in
that we build this business in large part on relationship-based efforts among our retail
and small business customers, among our growing network of correspondent financial
institutions and with a star-studded roster of co-brand partners. There is enormous
potential in the further penetration of our existing customer base and in our ability
to stay at the leading edge of new product introductions.