Boosts renewable electrical power portfolio, electronic services abilities
CINCINNATI, May well 10, 2022–(Company WIRE)–Fifth 3rd Bancorp (NASDAQ: FITB) right now announced it has closed on the acquisition of Dividend Finance, a main fintech level-of-sale (POS) lender, providing funding options for residential renewable electricity and sustainability-focused home advancement.
“The addition of Dividend Finance enhances the scale of our electronic services abilities via its tech-ahead platform, supplies customers and contractors with a best-in-course experience, and accelerates purchaser adoption of solar and sustainable home improvements, which are even extra persuasive specified soaring power rates,” stated Tim Spence, president of Fifth Third Bancorp. “We be expecting to mature the Dividend platform appreciably and additional our ESG management situation.”
Dividend Finance gives a vary of bank loan products across a number of proprietary POS platforms and has crafted a one particular-halt solution that permits contractors to offer you the most effective financing practical experience for their customers. Dividend’s electronic lending system is developed for customizability, furnishing contractors with the applications to get new enterprise and debtors with a streamlined process for financing household improvement tasks. In addition to a robust contractor network and a foremost technologies platform, Dividend has a national customer footprint focused on prime and tremendous-prime debtors.
“Fifth Third has continued to impress us with its severe commitments to financing the sustainable energy revolution, empowering its consumers and its leadership in economic technology innovation,” reported Eric White, who joins Fifth Third as president of Dividend Finance. “The Dividend Finance organization is thrilled to be becoming a member of the Fifth 3rd relatives to advance our daring shared ambitions.”
Fifth Third is focused on three environmental sustainability approaches: decreasing the Bank’s environmental footprint, taking care of local weather-related challenges and supporting our shoppers and communities in the transition to a much more sustainable long term. In 2020, Fifth Third set its initially sustainable finance goal of $8 billion to be obtained by 2025. This involves lending and funding for photo voltaic, wind, geothermal, biomass and hydropower. On top of that, Fifth Third’s Environmental, Social and Governance (ESG) report outlines the Bank’s entire climate approach.
About Fifth Third
Fifth 3rd Bancorp is a diversified financial companies business headquartered in Cincinnati, Ohio, and the oblique guardian enterprise of Fifth Third Financial institution, Nationwide Association, a federally chartered institution. As of March 31, 2022, the Company experienced $211 billion in property and operates 1,079 total-assistance Banking Facilities, and 2,201 Fifth 3rd branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In complete, Fifth Third provides its clients with accessibility to about 54,000 fee-totally free ATMs throughout the United States. Fifth 3rd operates four most important businesses: Commercial Banking, Branch Banking, Purchaser Lending, and Wealth & Asset Management. Fifth 3rd is between the most significant money supervisors in the Midwest and, as of March 31, 2022, experienced $549 billion in assets beneath care, of which it managed $61 billion for people today, businesses and not-for-revenue businesses by way of its Have confidence in and Registered Investment Advisory enterprises. Investor data and push releases can be seen at www.53.com. Fifth Third’s prevalent stock is traded on the NASDAQ® World Pick Sector below the symbol “FITB.”
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Beth Oates (Media Relations)
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Chris Doll (Trader Relations)
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