Fifth Third Bancorp in Cincinnati has acquired DTS Connex, a cash management software provider.
The company did not disclose how much it paid for DTS Connex, which focuses on solutions for multi-location businesses such as retailers, restaurants, and healthcare providers.
“Within commercial payments, we’ve built a robust cash processing business that strengthens client relationships beyond traditional payment services,” Bridgit Chayt, Fifth Third head of commercial payments.
“This acquisition expands our ability to automate cash operations and fosters deeper collaboration across the cash ecosystem through advanced data sharing,” Chayt added. “The DTS Connex team brings unmatched expertise, technology, and scale — empowering us to deliver more integrated, innovative service solutions to our clients and the industry.”
Fifth Third processed $17 trillion in payments volume last year.
DTS will operate independently as a stand-alone business.