US Bank 2013 Annual Report Download - page 10

8 U.S. BANCORP
EXTENDING OUR COVERAGE
In the past few years, U.S. Bancorp has made major
investments to provide our customers with all the products,
services and financial expertise they need and in all the
ways they want to use them — full-service branch locations,
specialized offices, on-the-go kiosks, or via online, mobile,
voice and virtual channels. We are continuously extending
our channel delivery options and the geography of
U.S. Bancorp coverage.
Expanding product and service offerings
Across all lines of business, we are bringing new service
capabilities and product offerings to our customers. Through
strategic business line acquisitions, hiring new expertise,
internal innovations and new business models, we are able
to compete with any size financial services provider. We have
expanded our capital markets activities, entering the municipal
bond and private placements businesses and investing in
Building Deeper Relationships
increases customer satisfaction
foreign exchange and derivatives for our customers. Our
2012 acquisition of AIS Fund Administration has enhanced
our Global Corporate Trust operational capabilities and
allowed us to provide a wide range of support services to
fund managers and investors in alternative assets.
Building depth while serving new markets
in and out of footprint
We continue to build depth in our existing markets by opening
new branch locations and by acquiring branches. Our January
2014 agreement to purchase the Chicago branch banking
operations of the Charter One Bank franchise, owned by
RBS Citizens Financial Group, also includes Charter One’s
Chicago small business operations and select middle market
relationships. Once complete, the acquisition will nearly
double U.S. Bank’s deposit market share in the Chicago
metro area. We are also piloting a new Anchor Branch distri-
bution model that puts custom branches in a market, rather
than the traditional all-purpose structure. At the same time,
we are extending our non-branch business coverage into
new markets. In Wholesale Banking we are optimizing
distribution and putting more bankers where our customers
need them. We’ve enhanced Relationship Manager coverage,
and our contiguous state initiative puts new focus on markets
where U.S. Bank is known, but not yet prominent, and where
U.S. Bank has tremendous opportunities to grow and
increase market share.
Integrating delivery channels for a consistent
customer experience
Our customers want the same outstanding U.S. Bank service
and capabilities whether they are in a branch or using digital
media. To that end, we have made significant investments
in mobile device banking and online banking upgrades and
enhancements, not just to be the bank customers can always
access and can always take along, but also the bank that
creates an unrivaled customer experience. We know that it’s
not just the technology; it’s what we do with it to make banking
more dependable, portable and seamless across channels.
Building Deeper Relationships (BDR)
with our customers started as an
exploratory project and has become a
fundamental part of the U.S. Bancorp
culture. We make the customer our
focus, increase collaboration among
business lines, foster the sharing of
information and resources and delve
deeper to understand needs and
opportunities. An essential extension
of BDR is our ongoing relationship
review program and, in Corporate and
Commercial Banking, our Voice of the
Customer program brings customers
in for facilitated discussion sessions
on all aspects of their accounts.