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-Fifth Third Bank launches new programme.

Global Banking News-November 10, 2011--Fifth Third Bank launches new programme(C)2011 ENPublishing -

Global Banking News - 10 November 2011

Fifth Third Bank (NASDAQ: FITB) has said that it has launched a new programme that will help Commercial Banking clients to avoid mail delivery delays and improve the payment receivables process.

Fifth Third Bank has launched its new Remote Capture Lockbox strategy in partnership with SourceHOV, a company specialising in end-to-end business process services. The new strategy will expedite payment collection from post office locations and streamline the receivables process for Wholesale Lockbox Network clients. SourceHOV will retrieve business-to-business payments at post office locations across the country and will image them for processing at Fifth Third Bank's Cincinnati processing hub, reducing mail float delays.

The new programme comes after recent announcements by the US Postal Service (USPS) that it will be reducing the number of processing plants, which will result in longer mail delivery times in 2012. The Fifth Third Bank offering will help its clients mitigate any increases in mail float as a result of the USPS changes.

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Publication:Global Banking News (GBN)
Date:Nov 10, 2011
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