Fifth Third Bank Enters Joint Development Initiative with PROACTIS
PROACTIS has announced that, in addition to extending its existing 5-year contract with Fifth Third Bank to include the full suite of PROACTIS eProcurement solutions, the two companies have also entered into a collaborative software development initiative to extend key system capabilities and address specific sector process requirements to identify and manage risk and meet regulatory requirements.
Fifth Third Bank is one of the top 15 US regional banking corporations and is headquartered in Cincinnati, Ohio. Jim Moise, Chief Sourcing Officer at the Bank said:
“We are delighted to be partnering with PROACTIS. This formal agreement provides the opportunity to extend the use of PROACTIS’ market-leading eProcurement solutions and to work together on new opportunities for the Financial Services sector.”
PROACTIS solutions provide complete visibility of supplier risk by maintaining consistent, consolidated, and ongoing management of supplier information throughout the supplier lifecycle. The joint development initiative will extend the integrated set of processes in order to maintain the necessary level of supplier visibility the Financial Services sector needs to effectively manage risk and meet regulatory compliance.
Read the full press release here.