Loomis Armored U.S. is now an armored courier service provider for Fifth Third Bank's currency processing.
The partnership will allow Fifth Third to provide its Remote Currency Manager to more retailers throughout the U.S., the Cincinnati bank said Tuesday. The wireless connectivity provided by Loomis will also help the bank, a unit of Fifth Third Bancorp (FITB), to provide more reliable tracking of cash deposits and provisional credit for customers using smart-safe technology.
Fifth Third launched its currency processing services in 2007 to help retailers manage their cash more efficiently and reduce the costs associated with delivering cash to the business' bank account.
Loomis handles the distribution and recycling of cash for banks, retailers and other companies.