Stripe Selects Fifth Third to Power Embedded Financial Services
2024年7月29日 - 10:00PM
ビジネスワイヤ(英語)
Fifth Third Bank is pleased to announce a collaborative
agreement between Newline™ by Fifth Third, a leading embedded
payments provider, and Stripe, a financial infrastructure platform
that enables businesses to seamlessly incorporate financial
services in their products. Together, Newline™ and Stripe will
expand embedded financial services for Stripe’s platform users and
their customers.
Later this year, Newline™ will power Stripe Treasury, a service
that enables software platforms on Stripe to offer embedded
financial accounts to their customers. Newline™ by Fifth Third is
an API platform that enables enterprises to launch and scale
payment, card, and deposit products directly with Fifth Third
Bank.
According to a survey conducted by Stripe, 46% of businesses
reported that traditional financial experiences have hindered their
growth. Modern businesses want intuitive, digital financial
services embedded within the software platforms they use daily.
Software platforms look to Stripe to simplify money movement so
they can offer embedded, compliant financial services to their own
business customers. This collaboration with Newline™ further
enhances Stripe’s ability to deliver compliant embedded money
movement solutions for their platform clients and their end
users.
“This relationship is reflective of the alignment between our
organizations,” said Tom Bianco, general manager of Newline™ by
Fifth Third. “The high standard Stripe sets for itself in the
delivery of services to its customers closely aligns with our
mission at Fifth Third. We look forward to bringing our
capabilities to bear for Stripe, enabling their continued delivery
of innovative and robust solutions for their customers,” Bianco
added.
Fifth Third’s commercial payments business currently processes
$17 trillion in annual payments volume and serves 25% of the
Fortune 100. For decades, the Bank has delivered innovative payment
strategies and scalable technology solutions for businesses
worldwide, working with some of the earliest e-commerce
companies.
In 1971, Fifth Third Processing Solutions was created as a
payments network to help connect retailers and financial
institutions. It was later renamed Vantiv and then spun off and
merged into Worldpay, the largest payment processor in the U.S.
Today, Newline™ by Fifth Third continues this legacy of innovation
by combining world-class banking, risk management oversight and
technology solutions with developer tools and managed services that
enables clients to embed financial services into their platforms
and products.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on
history. Since 1858, we’ve been helping individuals, families,
businesses and communities grow through smart financial services
that improve lives. Our list of firsts is extensive, and it’s one
that continues to expand as we explore the intersection of
tech-driven innovation, dedicated people and focused community
impact. Fifth Third is one of the few U.S.-based banks to have been
named among Ethisphere’s World’s Most Ethical Companies® for
several years. With a commitment to taking care of our customers,
employees, communities and shareholders, our goal is not only to be
the nation’s highest performing regional bank, but to be the bank
people most value and trust.
Fifth Third Bank, National Association is a federally chartered
institution. Fifth Third Bancorp is the indirect parent company of
Fifth Third Bank, and its common stock is traded on the NASDAQ®
Global Select Market under the symbol "FITB." Investor information
and press releases can be viewed at www.53.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240729195726/en/
Adrienne Gutbier (Media Relations) adrienne.gutbier@53.com |
513-534-8038 Matt Curoe (Investor Relations) matt.curoe@53.com |
513-534-2345
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