Fifth Third Bank utilizes SWIFT (Society for Worldwide Interbank Financial Telecommunication), the global provider of secure financial messaging, to enable you to exchange automated, standardized financial information securely and reliably. This process allows you to reduce operational risk and inefficiencies when working in a multi-bank environment.
In order to connect with multiple domestic or global institutions, Fifth Third Bank via SWIFT provides you with a single secure channel, instead of requiring you to setup multiple proprietary connections. As a member of SCORE (Standardized CORporate Environment), Fifth Third supports two messaging platforms: SWIFTNet FIN and SWIFTNet FileAct.
SWIFTNet FIN allows you to request funds transfers, review prior-day or current-day reporting, or receive confirmations of credit or debits in a standardized file format.
SWIFTNet FileAct allows you to submit real-time, bulk file transmissions of various types in standard formats. This method allows you to receive and send:
- Prior-day and current-day information reporting in BAI2 format
- ACH payments & confirmations
- Wire Transfer payments & confirmations
- Integrated Payable files in ISO 20022, CSV and EDI formats