First
for Fifth Third
The Cincinnati Post
10/11/2000,
CINCINNATI- Fifth Third Bancorp said Tuesday that it will issue letters
of credit through FastLC, an Internet site established by ec-Finance,
which provides online trade financing products.
The
announcement makes Fifth Third the first bank to provide online letters
of credit, which are used to finance exports and imports. The agreement
will enable business-to-business electronic exchanges and customers
to use Fifth Third letters of credit in international transactions.
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