Press release
Fifth Third Announces Acquisition of DTS Connex, Adding Scale, Innovation in Cash Management
CINCINNATI--(BUSINESS WIRE)-- Fifth Third (Nasdaq: FITB) today announced its acquisition of DTS Connex, a leader in cash management software solutions for
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[{"type":"text","content":" CINCINNATI--(BUSINESS WIRE)--\nFifth Third (Nasdaq: FITB) today announced its acquisition of DTS Connex, a leader in cash management software solutions for multi-location businesses such as retailers, restaurants and healthcare providers. The acquisition adds expanded capabilities in cash logistics offerings, infrastructure and risk management to Fifth Third’s Commercial Payments business. DTS Connex’s technology solutions address the complex and complicated needs of clients seeking to increase efficiency, transparency and oversight in cash logistics management.\n\n\n“Within Commercial Payments, we’ve built a robust cash processing business that strengthens client relationships beyond traditional payment services,” said Bridgit Chayt, head of Commercial Payments. “This acquisition expands our ability to automate cash operations and fosters deeper collaboration across the cash ecosystem through advanced data sharing. The DTS Connex team brings unmatched expertise, technology, and scale -- empowering us to deliver more integrated, innovative service solutions to our clients and the industry. This is a pivotal milestone in our commitment to simplify payments through client-centric innovation.”\n\n\nFifth Third is currently the sixth-largest commercial payments provider by revenue. The Bank processed $17 trillion in payments volume in 2024 and enjoys top five market share in six payment categories. Fifth Third ranks second in coin and currency revenue and retail lockbox remittances, third in wholesale lockbox remittances, and fifth in account reconciliations.*\n\n\n“Fifth Third’s cash processing business has been at the forefront of industry innovation for more than 15 years,” said Robert Norman, director of cash logistics strategy. “We collaborated with DTS Connex on the development of its deposit tracking solution, which was a key component in its Cash Vault Direct offering. This acquisition will allow for continued strategic partnerships and forward-thinking cash logistics software solutions that will accelerate growth across the sector.”\n\n\nFifth Third’s Commercial Payments business offers innovative products and solutions to help customers do the things they need to do better, faster and with more control and efficiency. In recent years, strategic integration of payments technology solutions has further differentiated the Ba...