US Bancorp Partners With Fiserv to Expand Digital Agent Card Issuance

U.S. Bancorp USB has entered a partnership with Fiserv FI to integrate its Elan Financial Services credit card program into Fiserv’s Credit Choice solution. The collaboration aims to enhance digital card issuance capabilities, providing financial institutions with a seamless, integrated experience.

Rationale Behind USB's Collaboration With Fiserv

The integration of Elan’s credit card program into Fiserv’s Credit Choice solution strengthens USB’s digital-first strategy. This integration will enable consumers and small businesses to access both debit and credit card account details within a unified digital platform for consumers and small businesses. This will create a better user experience, allowing customers to manage both types of cards in one place.

Peter Klukken, head of credit card issuing for Elan Financial Services, stated that, “Integrating an agent card into the client financial institution banking application is truly groundbreaking,”. Klukken further added that “We’re excited about this relationship and look forward to offering a new, seamlessly integrated technology experience to even more banks and credit unions.”

The collaboration is set to accelerate this summer, with USB leveraging Fiserv’s innovative, integrated technology infrastructure and aiming for full conversion of the portfolio, expected by the end of 2025. Fiserv will provide ongoing support, training, and engagement while bringing new financial institutions into Credit Choice. The improved Credit Choice program will be accessible to U.S. banks and credit unions through Fiserv. Users will benefit from Elan's agent-issuing capabilities, and digital card solutions will be integrated in the first half of 2026.

Price Performance & Zacks Rank of USB

Shares of USB have gained 3.1% in the past three months compared with the industry’s growth of 0.6%.

At present, USB carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Similar Steps by Other Finance Firms

In May 2025, UBS Group AG UBS entered a strategic partnership with General Atlantic, a US-based investment firm, to focus on private credit opportunities.

The collaboration between UBS and General Atlantic aims to expand the access of investing clients and borrowers to a broader range of direct lending and other credit products. By combining UBS’s advisory and investment banking origination capabilities with General Atlantic’s extensive global network, the partnership will create compelling private credit solutions.

Likewise, in October 2024, Citigroup, Inc. C entered a multi-year agreement with Google Cloud, which is intended to support C's digital strategy through cloud technology and artificial intelligence (AI). This collaboration aims to modernize Citigroup's technological infrastructure and improve employee and client experiences via cloud-based apps.

Through collaboration, Citigroup will transition different workloads and apps to Google Cloud's safe and scalable infrastructure. C will be able to deliver superior digital goods, expedite staff workflows, and run high-performance computing (HPC) and analytics platforms after updating its technology infrastructure on Google Cloud. 

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This article originally published on Zacks Investment Research (zacks.com).

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