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Fifth Third signs deal making fintech firm Brex the provider of its commercial cards
CNBCยท 2025-12-09 15:02
Core Insights - Fifth Third Bank has partnered with fintech firm Brex to provide commercial cards and expense management tools for its business clients, utilizing Brex's embedded payments platform [1][2] - This partnership reflects a trend among banks to collaborate with fintech companies to meet the evolving technology expectations of clients, rather than developing their own solutions [2] - Fifth Third is in the process of acquiring Comerica, which will position it as the ninth largest bank in the U.S. with approximately $288 billion in assets [2] Company Statements - Fifth Third CEO Tim Spence emphasized that the partnership with Brex aims to redefine how companies utilize financial technology, combining the bank's strength with Brex's AI-driven innovations to create efficient solutions for businesses [3] - The financial terms of the partnership have not been disclosed [3]