ec-Finance.com

Fifth Third Bancorp issues Letters of Credit through ec-finance.com
By Jim Banks

10/11/00 - ec-Finance (ECF) and Fifth Third Bancorp jointly announced today that the bank would start issuing Letters of Credit through ECF's FASTLC product for B2B exchanges this month.

ECF develops systems to enable established financial institutions, buyers and sellers, and B2B exchanges to move into the online economy. Fifth Third was chosen because of the strategy that led to it being voted the top e-business innovator by PX Week magazine.

“In step with our long-term philosophy, Fifth Third continues to execute on the basics by providing the international business community with a new, forward-looking trade financing tool to help them compete in an increasingly competitive market,” stated John Perez, vice president, international banking, Fifth Third. “With FASTLC, Fifth Third is able enter the online import/export trade financing business by offering Internet-based Letters of Credit to B2B exchanges as a bank payment partner with ec-Finance.”

For complete article please visit: http://38.144.115.20/marketsandexchanges/index.asp?news=6078

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