U.S. Bancorp announced that Shruti Patel has been appointed as the bank's chief product officer for the business banking segment. Patel, in this leadership role within the Consumer and Business Banking group, will be responsible for providing an integrated product strategy that connects banking, payments and software for business clients with up to USD25m in revenue. Patel, who has leadership experience from across fintech, banking and payments, was most recently head of global product partnerships and monetisation at e-commerce company Shopify.

Before that, she was head of embedded payments and partnerships at JPMorgan Chase. Patel previously held a variety of strategy and product management roles within American Express's merchant services group.