US-based Fifth Third Bancorp has acquired DTS Connex, a company specialising in cash management software solutions for businesses with multiple locations, such as retailers and restaurants.
The financial details of the acquisition remain undisclosed.
This acquisition aims to enhance Fifth Third’s Commercial Payments division by expanding its capabilities in cash logistics, infrastructure, and risk management.
DTS Connex, a registered trademark of International Financial Services, provides solutions that connect businesses with banks, couriers, and cash management devices to facilitate real-time transaction information sharing. Its client base extends across the US and Canada.
Currently, Fifth Third ranks as the sixth-largest commercial payments provider by revenue, having processed $17 trillion in payments volume in 2024.
Fifth Third commercial payments head Bridgit Chayt said: “Within Commercial Payments, we’ve built a robust cash processing business that strengthens client relationships beyond traditional payment services.
“This acquisition expands our ability to automate cash operations and fosters deeper collaboration across the cash ecosystem through advanced data sharing. 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.”
The acquisition of DTS Connex follows Fifth Third’s strategic focus on enhancing its payments technology offerings. Recent acquisitions include Big Data Healthcare and Rize Money, which have bolstered the bank’s offerings in healthcare payments and embedded payment platforms respectively.
In May 2023, the bank introduced Newline by Fifth Third, which offers financial service integrations into client platforms. Newline has been adopted by Trustly, Stripe, and others to enhance their service capabilities.
Effective from 1 August, DTS Connex now operates as a wholly owned subsidiary of Fifth Third but will continue to operate independently, ensuring continuity in its client services.
Fifth Third cash logistics strategy director Robert Norman said: “Fifth Third’s cash processing business has been at the forefront of industry innovation for more than 15 years.
“We collaborated with DTS Connex on the development of its deposit tracking solution, which was a key component in its Cash Vault Direct offering. This acquisition will allow for continued strategic partnerships and forward-thinking cash logistics software solutions that will accelerate growth across the sector.”
