CINCINNATI--()--Fifth Third Bank announces that Loomis Armored U.S. LLC (“Loomis U.S.”), an international leader in the cash handling industry, is now one of its armored courier service providers for the Bank’s currency processing solution, Remote Currency Manager (RCM). This relationship with Loomis will enable the Bank to provide its RCM service to more retailers throughout the United States. The wireless connectivity provided by Loomis also will help the Bank provide more reliable tracking of cash deposits and provisional credit for customers using smart-safe technology.
“Loomis will be a great addition to expand the Bank’s currency processing offering”
“Loomis will be a great addition to expand the Bank’s currency processing offering,” said Jeff Ficke, senior vice president and director of treasury management for Fifth Third Bank. “With Loomis’ more than 224 locations throughout the United States, the Bank will be able to provide currency processing and armored courier services to more of our customers across the nation.”
Fifth Third Bank launched its currency processing services in 2007 to help retailers manage their cash more efficiently and help reduce the cost associated with delivering cash to the business’ bank account. The RCM solution works in coordination with smart-safe technology, and Fifth Third will work with Loomis’ armored courier service to securely transfer currency from the smart safe to the bank for retail customers.
“We are pleased to be working with Fifth Third Bank to support its innovative currency processing solutions,” said Robert Lynch, senior vice president, national sales for Loomis U.S. “These solutions will help customers automate cash deposit services, achieve better cash flow through accelerated access to funds, free up time for management to oversee staff and provide better customer service, and reduce time spent processing and reconciling deposits.”
For more information about RCM and Fifth Third’s integrated receivables solutions, visit www.53.com/commercial.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $118 billion in assets and operates 15 affiliates with 1,321 full-service Banking Centers, including 105 Bank Mart® locations open seven days a week inside select grocery stores and 2,405 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 39% interest in Vantiv Holding, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2012, had $291 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third's common stock is traded on the NASDAQ® National Global Select Market under the symbol "FITB." Fifth Third Bank. Member FDIC.
Loomis offers safe and effective comprehensive solutions for the distribution, handling and recycling of cash for banks, retailers and other commercial companies via an international network consisting of almost 400 branch offices in 16 countries. Loomis has 20,000 employees and annual revenue of 11 billion Swedish kronor. Loomis is a midcap listed company on NASDAQ OMX Stockholm.