LYCOS RETRIEVER 
Fifth Third Bank: Processing Solutions
built 622 days ago
Fifth Third Bank is a superregional bank focused on the Midwest and Florida markets. As of September 2007, it had $104 billion in assets and 1,181 branches, ranking as the 17th-largest bank in the U.S. by asset size. The firm ... has a large electronic processing unit. Processing solutions account for about 8% of revenue.
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Each application team at Fifth Third is responsible for its own protection and recovery. Tape backup has been the traditional solution and, because it is well understood, some application managers have been resistant to change. Most tape-based recovery strategies... are based on best-case scenarios. As Fifth Third educates its application teams about the new solution and the potential risks of tape under worst-case scenarios, the bank expects additional application managers to embrace the replication strategy.
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Fifth Third Bank will be one of the first XSP clients to migrate onto the new XSP v5 platform. The XSP v5 platform is XSP's latest state-of-the-art solution developed to automate each step in the processing of corporate actions.
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Fifth Third Bank was one of the first banks in the United States to implement a multi-site business continuity solution involving continuous, concurrent synchronous and asynchronous replication. As an early adopter of asynchronous technology and a trailblazer in combining asynchronous and synchronous technologies into a comprehensive solution, Fifth Third has established a model that other enterprises in many other industries are following.
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"Fifth Third Bank's premier position in mortgage lending, along with its commitment to innovation, perfectly positions the company to lead the industry with end-to-end paperless mortgage lending," said Ron Thompson, president of Fiserv Imagesoft. "We are very pleased to partner with Fifth Third and extend the value of the Fiserv mortgage processing environment by adding image-enabled document management."
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"Fifth Third Bank Processing Solutions appealed to us for many reasons. They have a comprehensive set of technological capabilities, their sales and relationship management is making the conversion process efficient and their wide variety of products and services make me confident this will be a prosperous partnership," said Paul Waters, Executive Director of Transaction Services, Sovereign Bank.
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