Fifth Third Bank is happy to share the news of a partnership between Stripe, a financial infrastructure platform that lets companies easily integrate financial services into their products, and NewlineTM by Fifth Third, a top embedded payments provider. Stripe and NewlineTM will work together to increase embedded financial services for Stripe platform users and their clients.
Stripe Treasury, a service that allows software platforms on Stripe to offer embedded financial accounts to their customers, will be powered by NewlineTM later this year. With Fifth Third Bank, businesses can launch and grow payment, card, and deposit products directly through the API platform called NewlineTM by Fifth Third.
In a Stripe survey, 46% of companies said that their ability to grow has been hampered by traditional financial services. Digital financial services that are easy to use and integrated into everyday software platforms are what modern businesses demand. Software platforms turn to Stripe to make money transfers easier so they can provide integrated, compliant financial services to their own clientele in the business world. Stripe’s ability to provide compliant embedded money movement solutions for their platform clients and their end users is further enhanced by this collaboration with NewlineTM.
Currently processing $17 trillion in payments annually, Fifth Third’s commercial payments division provides services to 25% of the Fortune 100. Working with some of the first e-commerce companies, the Bank has been providing scalable technology solutions and creative payment strategies to businesses globally for decades.
Fifth Third Processing Solutions was established in 1971 as a payments network to facilitate communication between financial institutions and retailers. Later on, it changed its name to Vantiv before splitting off and merging with Worldpay, the biggest payment processor in the United States. In order to enable clients to integrate financial services into their platforms and products, NewlineTM by Fifth Third combines managed services, developer tools, and technology solutions with top-notch banking and risk management oversight.
