The news: U.S. Bank will acquire Bento Technologies, a fintech that offers small and medium-sized businesses (SMBs) cash flow management solutions. The size of the deal is undisclosed, and it’s slated to wrap up in September. Bento’s products include controls for card transactions and spend monitoring.
More on this: Bento’s offerings, which are geared toward SMBs’ accounts payable sides, will be paired with U.S. Bank’s accounts receivable software products: talech and Elavon. The end result, the banking giant claims, will be “a holistic one-stop experience” for both sides of cash flow operations.
The bank also suggested that Bento’s products complement its broader array of SMB offerings, including its cards, deposit accounts, payments acceptance, and digital funds transfers.
The big takeaway: U.S. Bank’s Bento combo will round out its suite of cash flow tools, enhancing its appeal to existing SMB customers, and give it a chance to cross-sell its current lineup to the fintech’s own users.
This broad product lineup can help U.S. Bank fight off insurgent challengers that are rolling out their own SMB banking offerings, including:
Capital on Tap, a UK fintech that issues cards to SMBs and will launch in the US after bagginga $100 million credit facility.