Fifth Third Offers Managed-Service Currency Processing

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Fifth Third Bancorp (FITB) in Cincinnati now acts as a single-service provider for retailers who use the bank's currency processing solutions suite.

The $126 billion-asset company manages armored courier service relationships on behalf of retailers while providing them with technology to collect and calculate currencies on-site, according to a Monday press release.

"We have simplified the process for retailers so they can minimize the amount of time personnel spend on reporting, reconciliation and end-of-day deposits, allowing them to focus on growing and managing their business and enhancing the client experience," John Bultema, executive vice president of currency processing solutions for Fifth Third, said in the release.

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