U.S. Bank acquires fintech talech

Minneapolis-based U.S. Bank has acquired talech, a Palo Alto, Calif.-based software company that helps small and medium-sized businesses simplify operations through an integrated point-of-sale system.

Established in 2012, talech provides software that allows businesses to manage multiple operational tasks – such as order management, inventory and staff reporting, customer management, business insights and payments processing – in a single, integrated point-of-sale system. 

The company serves over 8,000 restaurants, retailers and professional services companies representing $2.3 billion in processing volume.

“Small businesses are a focal point for us as we transform how U.S. Bank engages with customers and how our customers interact with their money, making it easy for them to make decisions at the moment they come into contact with our technology,” said Derek White, chief digital officer at the $482 billion U.S. Bank.

The acquisition closed September 9. Financial terms are not disclosed.