Fifth Third Bank, QED Investors partner to leverage fintech innovation

Fifth Third Bank, a U.S. regional banking corporation, announced that it is collaborating with leading fintech venture capital company QED Investors in order to leverage fintech innovation to bring new services and products to bank customers and also promote the growth of fintech companies in the U.S.

The innovative partnership has supported prior fintech company investments including GreenSky, Transactis, and AvidXchange. In addition to this, it supports Fifth Third Bank’s NorthStar strategy of improving its products and serving its customers more effectively through technology.

“There is an unprecedented amount of innovation emerging in all parts of the financial services ecosystem. Our partnership with QED should enable us to identify new, high-potential technologies to complement our internal R&D and innovation efforts,” Tim Spence, executive vice president and chief strategy officer for Fifth Third Bancorp, stated.

Fifth Third can help customers to achieve their financial goals by delivering products and services, which its customers can count on.

In Q1 2016, both the partners led ApplePie Capital’s Series B capital raise and are also investors in private fintech company GreenSky and Charlotte-based software company AvidXchange. Fifth Third Bank is continuing to seek strategic partnerships and investments in fintech companies across the U.S. market.