MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank, lead bank of U.S. Bancorp (NYSE:USB), has promoted Dominic Venturo to the role of executive vice president and chief innovation officer for U.S. Bank. In this expanded role, Venturo will lead the efforts to identify emerging technology or new business models that have the potential to enhance customer experiences across the company.
“Innovation is part of our culture and it is how we view the development of new products and services,” said Andy Cecere, chief operating officer for U.S. Bancorp. “By anticipating what our customers will want or need in the future, we can better prepare our customers and company for whatever is ahead, capturing opportunities and avoiding pitfalls along the way.”
Venturo has been with U.S. Bank for 16 years, and for the past eight years he has led the innovation team for U.S. Bank’s payments division. The innovation team develops new products, sets the strategy for emerging innovations in financial services. This team creates the environment within the bank through which these innovations are tested, modified and brought to market for customer use. Recent examples of innovation from U.S. Bank include advances in mobile payments, voice biometrics, tokenization and integrated mobile and web commerce solutions.
A 26-year veteran of financial services, Venturo’s experience spans product development and management, commercial risk management, commercial lending and sales management. He is frequently featured as a keynote speaker at industry conferences and has been recognized by numerous media organizations for his work in the industry. His team has delivered industry-leading innovations since 2008 that have earned numerous accolades for U.S. Bank.
Based in Minneapolis, he is currently serving on the board of directors of the Minnesota Community and Technical College Foundation, where he also serves on the board recruitment committee. Venturo earned a bachelor’s degree in finance from Oregon State University and is a graduate of the Pacific Coast Banking School at the University of Washington Graduate School of Banking.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $403 billion in assets as of December 31, 2014, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The company operates 3,176 banking offices in 25 states and 5,022 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.