Fifth Third Bank Named ‘Bank of the Year U.S.’ by The Banker

Rhea-AI Summary

Fifth Third Bank (FITB) has been named 'Bank of the Year' for the U.S. 2023 by The Banker, recognizing its commitment to leveraging technology and innovation to serve customers. The bank's acquisition of Rize Money, Inc. and the evolution of its mobile app virtual assistant Jeanie were key factors in winning the award. Judges select winning banks based on performance, innovation, adding customer value, and leadership in society.

Positive

• Recognition for innovation and performance
• Acquisition of Rize Money, Inc. to enhance embedded payments platform
• Evolution of mobile app virtual assistant Jeanie

Negative

• None.

Bank recognized for performance, innovation, serving customers

CINCINNATI--(BUSINESS WIRE)-- Fifth Third is proud to announce it has been named “Bank of the Year” for the U.S. 2023 by The Banker. This annual award program recognizes industry-wide excellence within the global banking community.

“Congratulations to Fifth Third Bank for outshining the competition to win the Bank of the Year award for the U.S.,” said Joy Macknight, editor of The Banker. “The judges were impressed by Fifth Third’s commitment to leveraging technology and innovation to serve its customers. Major achievements include the strengthening of its embedded payments offering and of its private bank’s Business Transition Advisory Team (BTAT), dedicated to preparing business owners for their succession planning.”

In May 2023, Fifth Third announced the acquisition of Rize Money, Inc., an embedded payments platform that provides payment infrastructure and risk management capabilities to fintechs and other technology companies that want to offer innovative financial products through a single application programming interface. Fifth Third’s win is also attributed to the evolution of its mobile app virtual assistant Jeanie.

“I believe great banks stand apart from the rest by how they navigate challenging environments and deliver for their customers,” said Tim Spence, Fifth Third’s president and CEO. “That is when customers need our advice and support most, and when we can generate outperformance for shareholders. I want to thank our employees for everything they’ve done to earn this honor.”

Judges select winning banks based on performance, innovation, adding customer value and leadership in society. The Banker selects one winning bank for each of the 120 countries judged.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231201126832/en/

Beth Oates (Media Relations)

Beth.Oates@53.com | 313-230-9002

Matt Curoe (Investor Relations)

Matthew.Curoe@53.com | 513-534-5100

Source: Fifth Third Bank

FAQ

What award did Fifth Third Bank win in 2023?

Fifth Third Bank (FITB) won the 'Bank of the Year' award for the U.S. 2023 by The Banker.

What were the key factors in Fifth Third Bank winning the award?

The bank's commitment to leveraging technology and innovation to serve customers, the acquisition of Rize Money, Inc., and the evolution of its mobile app virtual assistant Jeanie were key factors in winning the award.

How are winning banks selected by The Banker?

Judges select winning banks based on performance, innovation, adding customer value, and leadership in society.

What is the ticker symbol for Fifth Third Bank?

The ticker symbol for Fifth Third Bank is FITB.