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Fifth Third Bank introduces online platform for foreign exchange trades

Published 18 July 2018

Fifth Third Bank’s Financial Risk Solutions group has introduced Fifth Third Market Trade, an online platform for conducting foreign exchange trades.

Fifth Third Financial Risk Solutions managing director and group head Bob Tull said: “After conducting more than three months of market research and one-on-one client conversations, we uncovered the need to bring a system to market that makes it easier and quicker to execute foreign currency exchanges.

“It’s our job to help solve our clients’ problems or address technology gaps by developing digital tools that provide robust solutions. Fifth Third Market Trade addresses a real need.”

Fifth Third Market Trade is accessible through Fifth Third Direct and provides an easy-to-navigate electronic trade process. The process begins with a client’s signing in to Fifth Third Direct and initiating a currency transaction. From there, Fifth Third can validate and execute the transaction electronically, typically within seconds.

Key features of Fifth Third Market Trade include:

Convenience. Quickly view exchange rates, which are automatically populated. Easily export data and get easy access to a transactions history for reference or audit purposes.

Visibility. Manage foreign exchange trades from Fifth Third Direct, where clients can view and manage all business finances. Clients also can search trade history in real time.

Security. Proactively manage user access and permissions.

Clients using Fifth Third Market Trade will continue to have access to a professional risk management representative as a resource. The Financial Risk Solutions group serves a global client base including banks and corporations.

Source: Company Press Release