Fifth Third Bancorp CEO Tim Spence on new partnership with Brex

Partnership Overview - Fifth Third and Brex form a partnership, combining Fifth Third's scale and distribution with Brex's fintech innovation [2] - The partnership aims to transition Fifth Third's commercial card processing business into an AI-enabled spend management platform [2] - Brex gains scale through Fifth Third's existing client base of tens of thousands of mid-size businesses [4] Customer Benefits - Customers will experience a 10x improvement in financial tools, including corporate cards with spend control [5] - AI automation will eliminate thousands of hours of manual work related to receipts, invoices, and approvals [5] - AI helps automate expense reconciliation, reducing fraud and errors [8] Financial Impact - Fifth Third anticipates a significant impact on its ability to grow spend and deliver more value for customers [2] - A pilot program showed a 10x increase in the sales pipeline using Fifth Third's bankers and Brex's product [9]