-
Fifth Third Bancorp has combined several business divisions into a new unit focused on payments, as the Cincinnati company continues its gradual exit from its former payments unit, Vantiv.
September 24 -
Fifth Third Bancorp in Cincinnati reported lower earnings because of a decline in mortgage revenue and a negative valuation adjustment on a payments subsidiary.
October 16
Fifth Third Bancorp's new advanced cash-vault product is being rapidly adopted by the bank's clients, the
We are seeing incredible revenue growth rates there, Tayfun Tuzun, Fifth Third's chief financial, said Wednesday. It is a fast-growing area and the deployment goes to large retail chains.
Tuzun made the comments at the Deutsche Bank Global Financial Services Investor Conference.
The cash vault allows a retailer's employees feed cash into a safe and immediately credit the funds to the retailer's account. One company, whom Tuzun did not identify, is installing more than 400 of the vaults.
The cash vault is offered by Fifth Third's new division to handle payments, called the