Endpoint Exchange adds Fifth Third to cheque image exchange network

With assets of $99.8 billion, Fifth Third Bancorp is one of the largest financial services holding companies in the United States, operating 1,168 banking offices in 10 states throughout the Midwest.

Endpoint Exchange, a leading national check image exchange network, will provide Fifth Third Bank with the full interoperability to exchange, clear and settle check images with more than 4,000 financial institution endpoints across the country, regardless of asset size. Fifth Third will connect to Endpoint Exchange through an established connection with the SVPCO Image Payments Network.

SVPCO and Endpoint Exchange announced on April 18, 2007 that member financial institutions of both systems can now exchange check data and images. With the network interoperability, Fifth Third will exchange check images with thousands of mid-range and community financial institution members of Endpoint Exchange in every Federal Reserve district.

"Membership with Endpoint Exchange extends our strategic plan to realize the long-term efficiencies of image exchange," said Donald Coleman, vice president, Payment Services, Fifth Third Bank. "Going live and successfully exchanging images through Endpoint Exchange was an important milestone for Fifth Third. Endpoint Exchange's comprehensive suite of image exchange solutions will allow us to take full advantage of the efficiencies and cost savings of electronic check image exchange."

"Fifth Third Bank continues to deploy innovative payment solutions, moving ahead aggressively to clear and settle payments electronically," said Jim Fancher, general manager, Endpoint Exchange LLC. "The large daily volume of check images that Fifth Third sends through Endpoint Exchange will, in turn, help Endpoint Exchange member institutions significantly increase the efficiency and profitability of its check clearing and settlement operation."