Fifth Third Bank has formed a partnership with cloud-based payment and digital banking provider Bottomline Technologies to provide electronic payment services to the bank’s business customers.
The partnership will allow Fifth Third to implement Bottomline’s Paymode-X business-to-business payment network. Paymode-X allows for electronic payments and remittance advices for payers and vendors.
Paymode-X is already used by more than 300,000 members.
"Fifth Third Bank customers who currently use Bottomline’s Paymode-X are more efficiently processing payments, while providing a better experience for their suppliers," says Jeff Siekman, head of payment products at Fifth Third Bank, in an Oct. 8 press release.