Syncada is a
global financial supply chain network that offers business-to-business payments in the cloud under the
software as a service (SaaS) model.
A joint venture between
Visa and
U.S. Bancorp, Syncada launched in July 2009. U.S. Bank was Syncada's first bank customer.
Commerce Bank was the second to join the network in 2010. In March 2011,
Citibank became the third bank to use the network.
US Bank has bought back the shares of Syncada from Visa and Syncada is being functionalized within US Bank Corporate Payments Group.
History
Syncada's creation stems from PowerTrack, an online platform for invoice processing, payment and trade financing, launched by
U.S. Bancorp in 1997. In 2009, U.S. Bancorp divested PowerTrack
Management
In January 2010, Syncada named Kurt Schneiber
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
. He joined from Fortent, an anti-money-laundering software provider, where he was president. He received recognition as one of Treasury & Risk's most-influential people in finance for 2011. Schneiber also has prior experience at
Citi. In September, it named Kay LaBare
Chief Information Officer.
References
External links
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{{U.S. Bancorp
U.S. Bancorp
Financial services companies of the United States