U.S. Bank is expanding its partnership with broker-dealer and financial advisor Edward Jones.
A press release published on Wednesday, August 21, noted that the mentioned expanded collaboration will allow the firm’s advisors to offer the bank’s deposit products and credit cards to clients. The corresponding activity is expected to be launched towards the end of next year.
Arijit Roy, head of consumer and business banking products at U.S. Bank, said in the press release that the lender and Edward Jones share a mission to improve the financial lives of clients. He also underlined that both parties to the partnership look forward to helping more clients achieve their financial goals through simple and easy-to-use banking solutions.
The press release noted that the expansion of the cooperation between U.S. Bank and Edward Jones will feature new co-branded credit card products with more rewards for consumer and small business clients.
It is worth noting that scaling up the interaction with the financial advisor is an action within the framework of the lender’s strategy regarding geographic presence. The bank is looking to scale up the relevant aspects of its operations.
In 2020, U.S. Bank teamed up with State Farm. The goal of this interaction is to assume the insurance provider’s deposit and credit card account products. Currently, the interaction system between U.S. Bank and State Farm includes business banking, deposit, and credit card products in 48 regions of the United States.
According to the results of an industry study, it was found that currently in the US 27% of financial services consumers use co-branded credit cards.
As we have reported earlier, U.S. Bank Launches Partnership With Greenlight.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
