Fifth Third (FITB) Buys Embedded Payment Platform Rize Money

Zacks2023-05-23

Fifth Third Bancorp FITB, through its indirect wholly owned subsidiary, recently acquired Rize Money, Inc., an embedded payments platform. With this buyout, the bank has expanded its embedded payments...

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With this buyout, the bank has expanded its embedded payments...</p>\n\n<a href=\"https://finance.yahoo.com/news/fifth-third-fitb-buys-embedded-124600904.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fifth Third (FITB) Buys Embedded Payment Platform Rize Money</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFifth Third (FITB) Buys Embedded Payment Platform Rize Money\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-05-23 20:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/fifth-third-fitb-buys-embedded-124600904.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Fifth Third Bancorp FITB, through its indirect wholly owned subsidiary, recently acquired Rize Money, Inc., an embedded payments platform. With this buyout, the bank has expanded its embedded payments...</p>\n\n<a href=\"https://finance.yahoo.com/news/fifth-third-fitb-buys-embedded-124600904.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4195","symbol_name":"互助储蓄与抵押信贷金融服务","start_time":0,"source_url":"https://finance.yahoo.com/news/fifth-third-fitb-buys-embedded-124600904.html","article_id":"2337612966","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/mRshTrYzrEtjYVFb3P_fMQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/713d9cfa93e8c27087589121df5b1975"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2337612966","pubTimestamp":1684845960,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Fifth Third Bancorp FITB, through its indirect wholly owned subsidiary, recently acquired Rize Money","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4195":"互助储蓄与抵押信贷金融服务","BK4207":"综合性银行","FITBI":"五三银行I类存托优先","BK4585":"ETF&股票定投概念","FITBO":"Fifth Third Bancorp","BK4588":"碎股","FITBP":"Fifth Third Bancorp","LCNB":"LCNB Corporation","CNNB":"Cincinnati Bancorp","BK4211":"区域性银行","FITB":"五三银行"},"translate_title":"第五第三（FITB）收购嵌入式支付平台Rize Money","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CNNB":1,"FITB":1,"LCNB":1,"FITBI":0.9,"FITBO":0.9,"FITBP":0.9},"content_text":"Fifth Third Bancorp FITB, through its indirect wholly owned subsidiary, recently acquired Rize Money, Inc., an embedded payments platform. With this buyout, the bank has expanded its embedded payments offerings.\nMarkedly, Rize Money offers risk management solutions and payment infrastructure to fintechs and other technology companies. This enables its clients to provide innovative financial products through a single application programming interface.\nFITB management noted, “This acquisition is another example of Fifth Third’s commitment to leveraging technology and innovation for the benefit of our clients.”\nThe embedded payments business’s double-digit growth and projection of annual revenues of more than $130 million for the ongoing year make it an attractive space for growth. Hence, FITB’s efforts to expand its embedded payments business through this acquisition is a strategic fit.\nIt will also help the company cater to clients' needs for risk sophistication and a comprehensive range of payment types. Moreover, the buyout will complement the bank’s Treasury Management businesses. The buyout is likely to increase the company’s treasury management fees, thereby propelling service charges on deposit and total fee income.\nFor 2023, we estimate the company’s service charges on deposits and fee income to be $566.9 million and $2.84 billion, respectively.\nMarkedly, the company has expanded its fee-income base over the years on strategic acquisitions, thereby enhancing its digital bank product offering. Last week Fifth Third completed the previously announced acquisition of Big Data Healthcare. This adds national healthcare revenue cycle capabilities, advancing its digital payments and managed services offerings. Prior buyouts of Dividend Finance and Provide expanded its commercial verticals.\nAmid the rising funding cost scenario, which is expected to affect net interest incomes for banks, FITB’s efforts to fortify top-line growth by improving fee income sources is a strategic fit.\nHowever, over the past six months, shares of FITB have lost 29.9% compared with the industry’s decline of 15.4%.\nImage Source: Zacks Investment Research\nCurrently, FITB carries a Zacks Rank #4 (Sell).\nYou can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nInorganic Expansion Efforts by Other Banks\nAmid a challenging operating backdrop due to expectations of economic slowdown, banks are undertaking expansion moves through acquisitions. Recently, LCNB Corp. LCNB entered into an agreement to acquire Cincinnati Bancorp, Inc. CNNB in a stock-and-cash transaction. Closing of the deal, subject to regulatory approval, CNNB shareholder approval and other customary conditions, is expected in the fourth quarter of 2023. The approval of LCNB shareholders is not required.\nThe deal is expected to significantly increase LCNB’s existing presence in the Cincinnati market and expand its community banking franchise across the Ohio River into the compelling Northern Kentucky market. Excluding one-time transaction costs, LCNB expects the transaction to be 18.2% and 26.2% accretive to 2024 and 2025 fully diluted earnings per share, respectively.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nFifth Third Bancorp (FITB) : Free Stock Analysis Report\nLCNB Corporation (LCNB) : Free Stock Analysis Report\nCincinnati Bancorp, Inc. (CNNB): Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2337612966"}