Business Services Industry
Fifth Third Bank Implements Financial Fusion to Improve Online Banking and Payment Services; Bank Integrates Online Products Into IVR and CSR Channels
Business Wire, May 5, 2003
Business Editors
CONCORD, Mass.--(BUSINESS WIRE)--May 5, 2003
Financial Fusion(R), Inc. announced today that Fifth Third Bancorp, one of the top 15 banks in the United States with $84 billion in assets, has licensed and fully deployed Financial Fusion Consumer Banking Solution for banking and bill payment, alerts and bill payment and transfer warehouse. Consumer Banking Solution is a comprehensive web-based account and payment management system that offers a fully integrated, multi-channel delivery solution for retail banking.
Fifth Third leverages the design and usability of Consumer Banking Solution to promote customer acquisition, retention and usage of its online services. This is particularly important to Fifth Third, as both acquisitions and organic growth have greatly expanded its customer base. Fifth Third has also made extensive use of Financial Fusion Payment Solutions, including bill payment and transfer warehouse to enhance its already progressive consumer payment capabilities. The bank has integrated this solution with both its Integrated Voice Response (IVR) and Customer Service Representative (CSR) channels to create a single platform for payments.
"Financial Fusion provides Fifth Third with innovative banking products that we have subsequently integrated across multiple channels and systems," said Rahul Bawa, VP of eBusiness, Fifth Third Bancorp. "Financial Fusion offers Fifth Third the proven capacity for scalability and superior performance as well as innovative solutions that make the most of our investment."
"Lucrative business decisions and dedication to the betterment of products and services has grown Fifth Third into one of the most progressive financial institutions today," said Richard J. Moore, president and COO, Financial Fusion. "Fifth Third's selection of Financial Fusion Banking and Payments Solutions validates our cross segment strategy and further demonstrates Financial Fusion's leadership in the financial services industry."
About Fifth Third Bancorp (www.53.com)
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $84 billion in assets, operates 17 affiliate banks with 942 full-service Banking Centers including 132 Bank Mart(R) locations open seven days a week inside select grocery stores and 1,880 Jeanie (R)ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, West Virginia, Florida and Tennessee. The financial strength of Fifth Third's affiliate banks continues to be recognized by rating agencies with deposit ratings of AA- and Aa1 from Standard & Poor's and Moody's, respectively. Additionally, Fifth Third Bancorp is recognized by Moody's with one of the highest senior debt ratings for any U.S. bank holding company of Aa2. Fifth Third operates four main businesses: Retail, Commercial, Investment Advisors and Fifth Third Bank Processing Solutions. Investor information and press releases can be viewed at www.53.com. The company's common stock is traded through the NASDAQ National Market System under the symbol "FITB."
About Financial Fusion Banking Suite
Financial Fusion Banking Suite is designed to meet the product deployment requirements of the financial services industry. Our solutions provide an integrated platform for consumers, small businesses, and large corporate cash management customers and can be executed across multiple delivery channels. We support multi-bank environments with customizable solutions that offer account and payment management, bill payment and presentment, alerts, and entitlements.
About Financial Fusion
Financial Fusion provides integrated financial solutions to more than 200 of the world's leading financial institutions. Financial Fusion maintains strategic technology relationships with BEA, IBM, Microsoft, Sun Microsystems, and SWIFT. The company supplies service and support in 60 countries and is a wholly owned subsidiary of Sybase, Inc. (NYSE: SY).
Financial Fusion and the Financial Fusion logo are registered trademarks and is a trademark of Financial Fusion, Inc.
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