Fifth Third has acquired DTS Connex, a leading provider of cash management software for multi-location businesses, including retail, restaurants, and healthcare. This acquisition will strengthen Fifth Third’s Commercial Payments division by improving its cash logistics, infrastructure, and risk management capabilities. DTS Connex’s technology aims to help clients boost efficiency, transparency, and oversight in managing cash logistics.
Fifth Third ranks as the sixth-largest commercial payments provider by revenue, with $17 trillion in payment volume processed in 2024. It holds top market shares in several categories, including second place in coin and currency revenue and retail lockbox remittances.
The Commercial Payments division offers innovative solutions to help customers operate more effectively and efficiently. Recent acquisitions, including Big Data Healthcare LLC and Rize Money, Inc., have expanded Fifth Third’s technology offerings. The bank also launched Newline to integrate financial services seamlessly into client platforms.
As of August 1, DTS Connex operates as a wholly owned subsidiary of Fifth Third, but it will continue to operate independently, maintaining its commitment to client service. The financial details of the acquisition remain undisclosed.
KEY QUOTES:
“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. This is a pivotal milestone in our commitment to simplify payments through client-centric innovation.”
Bridgit Chayt, head of Commercial Payments
“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.”
Robert Norman, director of cash logistics strategy
“Fifth Third’s dedication to relationships and innovation is what makes them a leader in the industry. Its focus on the client experience is clear, and I deeply value the expertise and strong partnerships its team will bring to the table.”
Lou Salafia, founder and chief executive officer of DTS Connex
