On Tuesday, Shares of Fifth Third Bancorp (NASDAQ:FITB), added 1.48% and closed at $19.87 in the last trading session. FITB stock opened its last trade at $19.96 and after floating in a range of $19.58 to $19.97. The company’s Market capitalization is $15.06 Billion with the total Outstanding Shares of 766.37 million. During the 52-week trading session the minimum price at which share price traded, registered at $13.84 and reached to max level of $21.14. The Earnings per Share of the company stands at $2.03. As a leader in commercial payments, Fifth Third Bank (FITB) has launched Fifth Third ePay, an upgraded electronic accounts payable (EAP) solution for commercial card clients using virtual card numbers for payment. Fifth Third ePay enables clients to take advantage of electronic accounts payables and meets evolving client needs. Fifth Third ePay provides clients with multiple options for supplier payments, visibility into account and payment status, and program controls for fraud and risk mitigation.
“Last year Fifth Third’s commercial card clients used our electronic accounts payable solution for nearly 25% of payments to their vendors and partners,” Bridgit Chayt, director of wholesale payments. “The new platform makes the solution more convenient and secure for our business clients.”
While other banks offer an EAP solution, Fifth Third ePay offers a robust and complete management platform. The updated tool and interface provides several benefits to commercial clients including:
Greater Cash Flow Management – Clients can make realtime supplier payments, enabling greater flexibility to manage working capital and cash flow.
Greater Client Control – Clients can schedule payments to meet their business needs, even if the payment is days, weeks, or months in advance, in addition to making immediate, realtime payments.
Easily Accessible Data and Reporting – Clients can customize payment details such as payment numbers and invoice data, enabling greater reporting and reconciliation.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH), gained 0.24% and closed at $50.22 in the last trading session. CTSH stock opened its last trade at $50.27 and after floating in a range of $49.70 to $50.63. The company’s Market capitalization is $30.34 Billion with the total Outstanding Shares of 606.94 million. During the 52-week trading session the minimum price at which share price traded, registered at $45.44 and reached to max level of $69.80. The Earnings per Share of the company stands at $2.48. Cognizant (CTSH) today announced that it has been recognized by Everest Group as one of only two companies to be named both a “Leader” and a “Star Performer” in a newly released report, Digital Services—PEAK Matrix Assessment and Market Trends: “Is Digital the New Normal?”
The PEAK Matrix report assesses the market success and overall capabilities of 18 leading IT services providers of digital services. Cognizant is recognized as a “Leader” for its high levels of delivery capability across categories, including scale, scope, domain expertise and innovation, and delivery footprint. Cognizant’s buyer satisfaction capabilities are recognized as “best-in-class.” Cognizant was also categorized as a “Star Performer” for strengthening its year-over-year leadership position on the PEAK Matrix.
According to Everest Group, enterprises are increasingly seeking digital transformation services to drive efficiencies across middle and back-office processes while gaining competitive advantage by improving market-facing user experiences. Business leaders see “digital” as value derived from the convergence of multiple technologies, including cloud, social, mobile, big data, the Internet of Things (IoT), and artificial intelligence.
The report stated, “Cognizant has done well in conceptualizing and delivering transformation-led engagements for its enterprise clients. Its investments in solution acceleration, client collaboration, and relationship management have resonated well with clients.” Highlighting Cognizant’s vision to help clients “become digital,” the report adds, “Cognizant addresses the broader digital market—front-office, mid-office and back-office—by integrating strategy shaped by human sciences, design, technology implementation, and management.”