FALLS CHURCH, VA, DECEMBER 4, 2018 – Nexus, a premier provider of software for the real estate industry, announced today a strategic alliance with U.S. Bank that automates the entire accounts payable process, end-to-end, for real estate customers. With the Nexus solution, transactions between buyers and suppliers feature a seamless, transparent flow of real-time data throughout the lifecycle and through the marketplace, resulting in improved efficiencies and reduced fraud.
Both Nexus and U.S. Bank are recognized for their expertise in commercial real estate accounts payable and payments management, as well as their understanding of buyer and supplier needs and the importance of customer relationships. This partnership uses the card processing engine of U.S. Bank to facilitate the Nexus Card, a virtual payment option offered by Nexus. As a result, suppliers are able to:
- Provide complete control over payment amounts and timing
- Reduce check costs, inefficiencies, and the risk of check fraud
- Vastly simplify the reconciliation process
“Teaming with U.S. Bank brings together two of the most admired and respected companies in the real estate industry,” said Jennifer Coolidge, founder and president of Nexus. “Not only is U.S. Bank the fifth largest bank in the country, but it has also been named one of Fortune 2018 World’s Most Admired Companies as well as a 2018 Most Ethical Company by Ethisphere Institute. Like Nexus, U.S. Bank appreciates the real estate business model and understands the value proposition to the customer of the full procure-to-pay lifecycle.”
“Commercial real estate clients rely on U.S. Bank to provide the right resources and tools to grow their businesses,” said David Frieder, Senior Vice President for U.S. Bank Corporate Payment Systems. “The Nexus platform uses the best of U.S. Bank Corporate Payment Systems to add significant value for clients. Nexus reduces costs and provides real-time payment data for clients while minimizing cumbersome onboarding administrative functions.”
U.S. Bank, which Fortune also named as the most admired superregional bank for the eighth consecutive year, is offering the Nexus solution to both current clients as well as non-bank customers through its dedicated Commercial Real Estate offices in 30 major markets. U.S. Bank has deep real estate industry expertise and offers a comprehensive set of financial service solutions including credit, deposit and payment solutions, and many others.
Nexus is the leading provider of Accounts Payable (AP) and Payments Automation software for the real estate industry. Their procure-to-pay solution takes a 360-degree view of customer and supplier needs, addressing pain points unique to real estate. By putting people at the forefront of automation, their product suite offers more than efficiency, control, and insight—it makes it easier to maintain the relationships at the heart of business. When people connect, technology works. To learn more about Nexus, please visit NexusSystems.com.
About U.S. Bank
U.S. Bancorp, with 74,000 employees and $465 billion in assets as of September 30, 2018, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2018 World’s Most Ethical Company. Visit U.S. Bank at usbank.com or follow on social media to stay up to date with company news.
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Contact: Jenn Shaw