US Bank to acquire SME payments solution provider Bento Technologies

Friday 13 August 2021 13:39 CET | News

US Bank has entered into an agreement to acquire Bento Technologies (Bento for Business), a fintech based in US providing payment and expense management services to SMEs.

The Bento platform offers businesses tools to manage card-based payments and other expenses via spend tracking and card transaction controls. The acquisition is part of the vision at US Bank to bring payments and banking services together to simplify cash flow and money management for small businesses.

Bento’s accounts payable-based software complements the bank’s existing Elavon and talech accounts receivable software solutions, providing US Bank clients a holistic one-stop experience for both their accounts payable and accounts receivable needs.

The expense management tools from Bento Technologies will blend with the other services US Bank offers businesses, from credit, deposit and card accounts, to secure payment acceptance and digital money movement. The purchase agreement was signed on 11 August 2021 and the transaction is expected to close in September. Financial details of the transaction were not disclosed.

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Keywords: acquisition, cash management, SMEs
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech

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