Fifth Third Bank Signs with Filogix to Deliver Straight-Through-Processing for Commercial Credit



    
    New technology solution launched to reduce processing times and help
    mitigate risk with improved credit quality
    

    PLANTATION, FL, Jan. 16 /CNW/ - Filogix Limited Partnership announced
today, the latest in a series of developments that will deliver
straight-through-processing for Fifth Third Bank's Commercial Credit Division,
via their Cyence product (formerly known as ExpressOS(TM)). This latest module
facilitates standardization of the Bank's due diligence fulfillment process
for commercial credit.
    The Cyence solution delivers enhanced functionality by automating the due
diligence request workflow between various departments and employees involved
in evaluating and approving credit applications. The new tool provides the
ability to:

    
    -   Request due diligence for all new and renewal credit applications
    -   Facilitate data collection necessary for determining the required due
        diligence
    -   Dynamically create a due diligence 'checklist' based on the data
        collected
    -   Share due diligence data and track status of due diligence requests
    

    "The turmoil in the financial services industry and increasing regulation
are driving demand for new risk management and innovative technology solutions
that help banks and other financial institutions deal with the increasing
risk, complexity and security requirements in today's challenging
environment," said Greg McIntosh, EVP, Cyence Business Unit.
    This latest technology module is a major step forward in the delivery of
the commercial credit straight-through-processing vision, initially launched
in 2004. At that time, Fifth Third Bank was faced with multiple divisions that
each had its own systems and processes for managing commercial accounts. Bank
employees now have a more holistic view of the customer and better access to
critical data required to make business decisions.
    "With straight-through-processing, Commercial Bank employees now have
improved access to customer information, as well as more accurate and complete
data," said Brian McMahon, VP, Senior Manager of Commercial Credit
Applications Development for Fifth Third Bank. "Redundant data entry has been
eliminated, resulting in reduced errors and improved quality. Cycle time has
been reduced significantly and we are able to deliver a more consistent and
satisfying user experience. Straight-through-processing has become crucially
important to managing and mitigating risk, a critical element of business
success."

    About Fifth Third Bank

    Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $116 billion in assets,
operates 18 affiliates with 1,310 full-service Banking Centers, including 93
Bank Mart(R) locations open seven days a week inside select grocery stores and
2,339 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee,
West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third
operates five main businesses: Commercial Banking, Branch Banking, Consumer
Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third
is among the largest money managers in the Midwest and, as of September 30,
2008, has $196 billion in assets under care, of which it managed $30 billion
for individuals, corporations and not-for-profit organizations. Investor
information and press releases can be viewed at www.53.com. Fifth Third's
common stock is traded on the NASDAQ(R) National Global Select Market under
the symbol "FITB."

    About Filogix Limited Partnership

    Filogix Limited Partnership is a leading international provider of
lending solutions. With clients in the United States, Canada and Australia,
Filogix technologies are used by industry leaders in Retail and Commercial
Banking, Mortgage, Real Estate and Equipment Finance. Our lending solutions
are recognized and widely acknowledged by those participants in the credit
lifecycle as world-class systems that drive efficiency, business growth and
the overall profitability. Our broad base of client-centric products offer
flexible, multi-country solutions across multiple credit products within one
organization. Our leading solutions are backed by exceptional execution and
support.
    For more information, please visit www.filogix.com/cyence.





For further information:

For further information: Media Contacts: Filogix Limited Partnership,
Greg McIntosh, Executive Vice President, Cyence Business Unit, Telephone (905)
331-9105

Organization Profile

FILOGIX LIMITED PARTNERSHIP

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