Fifth Third Bank Announces Financial Supply Chain Management Services
Cincinnati – Fifth Third Bank announces a service offering for companies with more than $500 million in revenue that will help optimize their financial supply chain, which includes the transactions that take place between the business and its suppliers involving the purchase of goods and services. Through this offering, the Bank works closely with clients to implement the appropriate financial supply chain solution to support the company's capital strategy while also improving the quality of supplier relationships.
"Many businesses focus time and resources primarily on managing relationships with key suppliers without concentrating on the financial supply chain," says Jeff Siekman, senior vice president and director of Wholesale Bank strategic initiatives for Fifth Third. "Our offering focuses on the 'big picture' and helps businesses integrate cash management with the administration of supplier relationships to help control working capital more effectively."
Fifth Third's approach takes into account all facets of a company's financial supply chain with a comprehensive analysis that includes liquidity needs, working capital, and payment efficiency.
For more information about Fifth Third Bank's comprehensive suite of treasury management products and services, visit www.53.com/treasurymanagement.
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $130 billion in assets and operates 17 affiliates with 1,320 full-service Banking Centers, including 104 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,586 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 25% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of December 31, 2013, had $302 billion in assets under care, of which it managed $27 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® Global Select Market under the symbol "FITB." Fifth Third Bank was established in 1858. Member FDIC. The curious bank is a registered service mark of Fifth Third Bancorp."