Shortly after acquiring cloud technology to enhance its appeal to corporate users and their customers, Huntington Bancshares reorganized its digital payments products into a single unit.
The Columbus, Ohio-based Huntington has created an enterprise organization to develop and coordinate its payments strategy and investments. Led by Amit Dhingra, the unit will focus on consumer payments, business transactions, commercial payments and treasury management. Dhingra will also focus on improvements to digital and customer experience.
The formation of the new unit comes a few weeks after Huntington bought Digital Payments Torana, a San Francisco-based business-to-consumer payments technology company, for an undisclosed price.
Torana uses a software as a service model and cloud hosting to distribute digital payments to a variety of business categories and sizes. The acquisition is part of Huntington's larger strategy of adding products and scale for its commercial banking segment, small to mid-sized business banking, and expansion into categories such as health care, public-sector clients and insurance. Huntington has focused on expanding its small-business banking operation over the past year,
Huntington did not return a request for comment by deadline. "The organization of an enterprise payments strategy and platform enables us to serve all our customers," Stephen Steinour, Huntington's chairman, president and CEO, said in a press release. "As we continue to invest in our payment products and services, we will deliver more value-added services."
