US Bank Fifth Third has enhanced its cash management capabilities with the acquisition of DTS Connex, although the financial details of the deal remain undisclosed.
DTS Connex specializes in cash management software tailored for multi-location enterprises, including sectors such as retail, hospitality, and healthcare. Fifth Third, recognized as the sixth-largest provider of commercial payments by revenue, asserts that this acquisition will bolster its cash logistics, infrastructure, and risk management services.
Bridgit Chayt, Head of Commercial Payments at Fifth Third, emphasized the strategic move, stating, “We have developed a robust cash processing business within our Commercial Payments division that strengthens client relationships beyond traditional payment services. This acquisition will enhance our ability to automate cash operations and promote greater collaboration across the cash ecosystem through advanced data sharing.”
Following the acquisition, DTS Connex will maintain its independent operations as a wholly-owned subsidiary of Fifth Third, effective August 1.