Cash Services as a Strategic Channel

Fifth Third Bank are the sixth-largest commercial payments provider in the US by revenue, and they spoke at G+D’s Currency Technology Symposium in July.

They have just announced that they are buying DTS Connex, which provides cash management software for multi-location businesses such as retailers, restaurants and healthcare providers.

Fifth Third says they invest in cash services because they are profitable, which goes against the normal position of commercial banks. They also say it strengthen their client relationships beyond traditional payment services. It says that its purchase of DTS Connex ‘fosters deeper collaboration across the cash ecosystem through advanced data sharing’.

Within Commercial Payments, Fifth Third has built a robust cash processing business. This acquisition expands its ability to automate cash operations and allows advanced data sharing alongside its existing cash logistics, infrastructure and risk management.