Ranked Among the Highest Purchase Volumes for U.S. Visa® and Mastercard Commercial Card Issuers
September 7, 2023 — Rockford, Illinois - Illinois Bank & Trust, a division of Heartland Financial USA, Inc. (NASDAQ: HTLF) that operates under the brand name HTLF, continues to display consistent strength in the payments space. Nilson Report ranked HTLF among the top U.S. commercial credit card issuers for the eighth year in a row.
In 2022, HTLF’s commercial credit card program ranked among the top 50 purchasing card programs, increasing 30 percent from the previous year. HTLF also surpassed $1 billion in purchase volume, a significant purchase volume milestone.
Nilson Report’s ranking reflects HTLF’s innovative approach to digital technology products and providing excellent consultative customer experiences. HTLF has a team of industry experts to help educate clients on the value of Electronic Accounts Payable (EAP), a single-use virtual commercial card account, and how this e-payables product can optimize working capital by extending Days Payable Outstanding (DPO) within the payables space by integrating it as the preferred payment method vs having suppliers on only check or ACH.
"Our mission within the Commercial Card Payments team is to empower businesses to thrive and excel,” said Jeff Hultman, Illinois Bank & Trust President and CEO. “Together with our dedicated partners, we have achieved remarkable success by providing exceptional consulting and education to our customers, guiding them to fully embrace the enormous power of commercial card and electronic payments.”
“HTLF's comprehensive commercial card product suite has enabled our highly skilled and talented Solutions Consultants and Strategic Account Managers to unlock the true potential of streamlined processes, heightened control, and significant cost savings for our customers, ushering in a new era of financial management, said Calvin Carson, SVP, HTLF Treasury & Payment Solutions National Sales Manager. “This instrumental approach has empowered our customers to harness the true potential of commercial card payments as a transformative financial tool within their organizations."
HTLF offers Integrated Payables, allowing commercial customers to streamline many of their Treasury Management payment processes into one payment instruction file including EAP, ACH and check supplier payments. With the rising need for electronic payment methods, inflation and continued rising interest rates, HTLF and its member banks are helping customers optimize working capital by leading with EAP, thus increasing cash flow, negotiating favorable terms with suppliers, increasing protection against fraud, and assisting in implementing a more effective payment strategy.
HTLF was also recognized by Forbes as one of “America’s Best Banks” for 2023. In its annual review of the largest publicly traded banks and thrifts, Forbes ranked HTLF among a nationwide group of 100 leading banks. It’s the seventh consecutive year HTLF has earned this recognition from Forbes.
For 50 years, Nilson Report has been a respected source of payments industry news and market insight. Nilson analyzes and reports on the performance of hundreds of credit, debit and prepaid card issuers, transaction acquirers and technology vendors with an unbiased perspective.
About Illinois Bank & Trust
Illinois Bank & Trust, a division of HTLF Bank, through its parent company, Heartland Financial USA, Inc., operating under the brand name HTLF, (NASDAQ: HTLF), serves customers from five locations in the Rockford metropolitan area and one location in Galena. Illinois Bank & Trust provides an array of products and services to fulfill the financial needs of businesses and individuals. The bank specializes in commercial lending and treasury management services and also provides a wide variety of private banking, retail lending and deposit services along with electronic banking support. Visit www.illinoisbank.com for more information. HTLF Bank is Member FDIC and an Equal Housing Lender.
About HTLF
Heartland Financial USA, Inc., is a Denver, Colorado-based bank holding company operating under the brand name HTLF, with assets of $20.2 billion. HTLF's banks serves communities in Arizona, California, Colorado, Illinois, Iowa, Kansas, Minnesota, Missouri, Montana, New Mexico, Texas and Wisconsin. HTLF is committed to its core commercial business, supported by a strong retail operation, and provides a diversified line of financial services including treasury management, wealth management, investments and residential mortgage. Additional information is available at www.htlf.com.