Many SMBs, particularly those with storefronts, need merchant services and card processing services. Banks and credit unions have ramped up efforts for this offering, facing increased competition from direct banks, such as retail, online-only brands, or from alternative banks, including fintech competition and technology brands such as Apple and Google, which have digital wallet payment features. U.S. Bank recently launched U.S. Bank Spend Management, which gives businesses much greater ability to monitor, track and control their company’s card-based spending, chief product officer for business banking, Shruti Patel says of the tool, a product created out of U.S. Bank’s acquisition of fintech Bento Technologies. Spend Management is available across the bank’s full portfolio of business banking credit cards, without additional applications or set-up. “Spend Management gives business owners a streamlined alternative to using multiple tools,” Patel says. “It can help them drive down costs, reduce manual work and save time through the use of robust card controls, integrated accounting, intuitive receipt capture, and more. And it’s all within an easy-to-use dashboard.” U.S. Bank says a focus on SMBs isn’t dying down anytime soon. It is developing other value-add innovations and expects to announce additional launches later this year, Patel says. For sure, self-directed banking is leading the SMB strategy, but bank leadership still feels engaged with what business owners want now, and what they may want later. “It’s a great example of the value we deliver to our clients when we bring together interconnected products from across the bank in a seamless experience that makes it easier for [proprietors] to run their business.