CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank has announced the formation of the Payments and
Commerce Solutions division. The new division was created to rethink the
payment and commerce experience with innovation that delivers greater
value to customers. The organization is led by Randy Koporc, executive
vice president and head of Fifth Third Payments and Commerce Solutions.
“We’re launching the Payments and Commerce Solutions division to provide
a deeper, more holistic and innovative experience to our customers,”
said Greg Carmichael, president and chief operating officer, Fifth Third
Bancorp. “Our deliberate and focused approach in the payments and
commerce solutions space presents a new way to turn our curiosity and
insight into valuable offerings for our customers.”
The new division combines existing businesses such as Treasury
Management, Commercial and Consumer Card, and Currency Processing
Solutions with resources specialized in developing innovative
commerce-enabled solutions. Fifth Third is evolving beyond the
traditional payment infrastructure to provide solutions for complex,
high transaction industries and segments such as retail and healthcare.
“Our scale, history and industry knowledge uniquely position Fifth Third
to compete and win in this evolving category,” said Koporc. “This is a
market characterized by much faster innovation. Capturing opportunities
requires us to build an organization that is both agile and swift in
pursuit of both solutions and talent.”
Koporc most recently served as president of Fifth Third Bank’s Georgia
affiliate. He has more than two decades of financial services experience
in various executive leader roles. He received a bachelor’s degree in
Business Administration from the University of Florida and a master’s
degree from the University of Central Florida.
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $133 billion in
assets and operates 15 affiliates with 1,309 full-service Banking
Centers, including 102 Bank Mart® locations, most open seven days a
week, inside select grocery stores and 2,619 ATMs in Ohio, Kentucky,
Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia,
Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates
four main businesses: Commercial Banking, Branch Banking, Consumer
Lending, and Investment Advisors. Fifth Third also has a 22.8% interest
in Vantiv Holding, LLC. Fifth Third is among the largest money managers
in the Midwest and, as of June 30, 2014, had $305 billion in assets
under care, of which it managed $27 billion for individuals,
corporations and not-for-profit organizations. Investor information and
press releases can be viewed at www.53.com.
Fifth Third’s common stock is traded on the NASDAQ® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Member FDIC.
Fifth Third Bank
Sean Parker, 513-534-6791