Third Fifth It offered a small business banking experience that combined digital lending, faster payments, and the support of local bankers.
The bank launches a new one The fifth third of works For more than 240,000 small business customers, it said Thursday (June 4). press release.
The fifth trimester is for business presentations Early payment Which provides access to qualifying deposits two days early and tax refunds up to five days early; Extra time Gives owners until midnight the next day ET to deposit and avoid overdraft fees; and digital lending that allows owners to apply for financing in less than one hour.
The new banking experience also allows small businesses to get paid cellwhich typically shortens the payment cycle to minutes, accepting tap-to-pay transactions directly on the smartphone, anytime, anywhere.
“With Fifth Third for Business, we are giving owners a more efficient way to move money, reduce costs and secure capital quickly, while connecting modern digital capabilities to the support of local bankers who understand their business.” Ben MendelsohnFifth Third’s senior vice president and director of consumer and small business products said in the release.
Fifth Third Bank said in February that it became the ninth-largest U.S. bank when it closed its branch merger with Comerica. At the time, the bank had $294 billion in assets and operated in 17 of the nation’s 20 fastest-growing large markets, including key regions in the Midwest, southeast Texas and California.
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“This combination represents a pivotal moment for Fifth Third as we accelerate our strategy to build density in high-growth markets and deepen our commercial capabilities.” Tim SpenceFifth Third’s chairman, CEO and president said at the time in a press release.
Fifth Third announced four months ago, in October, that it planned to raise $10.9 billion. merger With Comerica.
During an October earnings call, Spence said merger It will produce a diversified and more profitable company.
“We are excited to add Comerica’s strong verticals to our existing expertise, including national dealer services, environmental services, technology and life sciences, among others,” Spence said.
