Fifth Third Bancorp, Brex Form Partnership for Commercial Card Offering

MT Newswires Live12-09 22:56

Fifth Third Bancorp (FITB) and Brex said Tuesday that they have formed a multiyear partnership that will make a Brex-based product the default commercial card for Fifth Third's commercial banking clients.

Financial terms of the partnership were not disclosed.

The partnership is expected to support $5.6 billion in annual commercial card payment volume, the companies said.

The companies said clients will use Brex's API-based system to issue cards, automate expense reporting and process real-time payments, supported by Brex's AI tools that handle workflow automation and spending controls.

Price: 45.71, Change: +0.49, Percent Change: +1.08

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