US-based Fifth Third Bank has strengthened its partnership with FIS to replace key legacy systems with new platforms.

As agreed, the Ohio-based lender will replace its in-house core banking system with FIS Modern Banking Platform. The platform will enable Fifth Third Bank to fuel its digital transformation and enhance its services.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The bank will also deploy wealth management platform FIS Unity to scale its wealth and institutional offerings across various segments.

The platform is also integrated with FIS trust accounting to offer users with data and insights to improve their services.

Fifth Third Bank chief information officer Jude Schramm said: “This agreement is a natural extension of our existing relationship with FIS and provides a flexible, scalable platform to support our bank well into the future.

“This is a key part of our multi-year digital transformation that is enhancing our customers’ financial lives, while empowering our employees to be more efficient and opportunistic.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Additionally, combining these solutions with our existing payment processing relationship allows us to modernise our platforms while maintaining an efficient overall cost structure.”

FIS president Bruce Lowthers said: “We could not be more excited to partner with Fifth Third Bank on the next phase of its digital transformation journey.

“Fifth Third is moving confidently into the future with FIS Modern Banking Platform and Unity. These advanced new technologies will enable the bank to better serve the changing needs of its customers.”

Last month, BMO Harris Bank in the US tapped FIS to modernise its core and digital banking platforms.