Fifth Third’s Newline™ Recognized as Top Embedded Finance Solution
Newline™ by Fifth Third Achieves Prestigious Award
Newline™ by Fifth Third has recently been honored with the title of Best New Embedded Finance Platform by Tearsheet as part of their Big Bank Theory Awards. This recognition highlights the innovation and leadership within the financial technology sector, particularly in how organizations are redefining the banking experience.
Celebrating Innovation in Banking
The Big Bank Theory Awards serve as a testament to the evolving landscape of finance, where innovation plays a crucial role. Through this awards program, Tearsheet acknowledges industry leaders and startups that are pushing the boundaries in banking and embedded finance. This year, Newline™ stood out as a trailblazer in reshaping financial services, earning its place among the top finalists.
Strategic Partnerships and Expansions
Earlier this month, Newline™ announced a significant collaboration with Trustly, a major player in open banking, aimed at enhancing the capabilities of their platform. This strategic partnership is positioned to provide users with more comprehensive financial solutions. Additionally, in July, Newline™ announced its partnership with Stripe, designed to enhance embedded financial services for Stripe's platform users, showcasing Fifth Third's commitment to expanding its service offerings.
Unprecedented Payment Processing Volume
Fifth Third’s commercial payments arm processes a staggering $17 trillion annually, reflecting its robust presence in the payments landscape. The bank has a long history of providing innovative payment solutions that cater to businesses worldwide, having worked closely with numerous e-commerce companies since the inception of online trading.
About Newline™ by Fifth Third Bank
Newline™ operates as an API platform that empowers enterprises to launch various financial products, including payment systems, card offerings, and deposit services, directly through Fifth Third Bank. This initiative emerged following Fifth Third’s acquisition of Rize Money in 2023, marking a pivotal shift in bank technology and the integration of payment systems.
About Fifth Third Bank
Established in 1858, Fifth Third Bank has a rich heritage of innovation and commitment to financial excellence. The bank focuses on enriching the lives of individuals, families, and businesses with tailored financial services that promote growth and stability. It has received multiple accolades from Ethisphere, recognizing its ethical practices and community-oriented approach in the sector.
Fifth Third Bank, National Association is a federally-chartered institution, with Fifth Third Bancorp acting as its indirect parent company. The common stock of the bank is listed on the NASDAQ® Global Select Market, under the ticker symbol "FITB." For more information regarding investments and press releases, visit www.53.com.
Frequently Asked Questions
What is Newline™ by Fifth Third?
Newline™ by Fifth Third is an API platform that enables enterprises to launch various financial products directly through Fifth Third Bank.
Why was Newline™ recognized by Tearsheet?
Newline™ was awarded Best New Embedded Finance Platform for its innovation and impact in the banking and financial services sector.
What partnerships has Newline™ formed recently?
Newline™ has partnered with Trustly and Stripe to enhance its platform's capabilities and expand embedded financial services.
What volume of payments does Fifth Third process annually?
Fifth Third processes approximately $17 trillion in commercial payments each year, demonstrating its extensive reach in the industry.
What is Fifth Third Bank's history?
Founded in 1858, Fifth Third Bank has a long-standing record of innovative financial services and has been recognized as one of the most ethical companies in the banking sector.
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