Fifth Third Bank (NASDAQ: FITB) announced an expansion of their strategic relationship with Boston Market to roll out Fifth Third Currency Processing SolutionsSM in approximately 450 restaurants across the country by mid-2017.
“In order for us to continue to improve on process efficiency, it was time to upgrade to a more powerful smart safe solution,” said Greg Uhing, chief financial officer at Boston Market. “Fifth Third Currency Processing Solutions provides a managed service platform that centralizes service and support, while continuing to provide traditional smart safe benefits such as daily provision credit and improved reconciliation support.”
A comprehensive managed service solution for managing cash, Fifth Third Currency Processing Solutions allows for fewer touch points, automates manual processes and tracks transactions across multiple locations, providing detailed, real-time insight to a company’s overall cash position. Redundancies that typically exist with managing large amounts of cash have been streamlined or eliminated, making reconciliation easier and more efficient.
“We developed a deep understanding of Boston Market’s business beyond the transactional element and worked to enhance their current cash management solution,” said John Bultema, executive vice president, treasury management and currency processing solutions for Fifth Third Bank. “We’re proud to grow our relationship with Boston Market to bring efficiencies that contribute to their overall bottom line.”
For more information about Fifth Third Bank and its CPS device, visit https://www.53.com/cps.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2017, the Company had $141 billion in assets and operated 1,157 full-service Banking Centers and 2,461 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to more than 50,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2017, had $330 billion in assets under care, of which it managed $34 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the Nasdaq® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender