Fifth Third Bank Named a 2016 Javelin Mobile Banking Leader
May 31 2016 - 9:19AM
Business Wire
Mobile Banking App Earns Top Score in Most
Comprehensive Alerts Category
Fifth Third Bank was named a leader in mobile banking by Javelin
Strategy & Research. The Bank earned the highest score possible
in the Most Comprehensive Alerts category for its mobile banking
app, demonstrating outstanding support for real-time information
about customers’ bank accounts. The annual awards recognize the
most exceptional mobile banking providers among the top 30
financial institutions by deposit size.
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Greg Carmichael, president and CEO of
Fifth Third Bancorp. (Photo: Business Wire)
Fifth Third’s mobile banking app allows customers to conduct all
of their banking from a mobile device – from logging in with Touch
ID to depositing a check with remote capture. The awards come in a
year when, for the first time, the number of people nationwide
using mobile banking exceeded the number of people using branch
banking, according to Javelin.
“We know that mobile banking is simply banking for many of our
customers,” said Greg Carmichael, president and CEO of Fifth Third
Bancorp. “People want to be able to bank whenever they want,
wherever they want. We are committed to continuing to create
products that make it convenient for our customers.”
Carmichael, who became CEO last year after 12 years of
increasing responsibilities at Fifth Third and two decades in
information technology, recently announced a continued investment
in technology. The Bank is recruiting more than 200 technology
experts, bringing the total to more than 1,000. And Fifth Third
recently hired a head of innovation as well as a new chief digital
officer and head of omni-channel banking to continue to improve the
customer experience.
“We place a lot of emphasis on serving our customers with the
best technology,” Carmichael said. “And we are honored to be
recognized by Javelin Strategy and Research for our mobile banking
excellence.”
More Fifth Third customers now are using mobile banking, with
mobile use up 21 percent from 2014 to 2015. Nearly two-thirds of
new customers at Fifth Third are using mobile banking.
As more Fifth Third customers move to mobile banking, they are
enrolling in alerts. In just nine months, Fifth Third saw a 233
percent increase in households using mobile alerts. Fifth Third
offers more than a dozen alerts, and 60 percent of eligible
customers now are enrolled in receiving at least one of these handy
notices. The Bank’s most popular alerts are deposit balance alerts
and real-time card alerts. Other alerts can send updates to
customers on daily account balances, purchases made, money
transfers and bills paid. Plus, Fifth Third recently added the
ability to respond directly to a card fraud alert without even
logging in.
“Alerts increasingly are becoming a way that consumers manager
their money,” said Jason Kammer, senior mobile channel manager for
Fifth Third Bank. “Customers use our alerts to stay in control of
their finances and track where their money is being spent.
Javelin evaluated the mobile banking offerings of the top 30
banks and credit unions, using data provided and collected from
November 2015 to February 2016. Javelin’s Mobile Banking Leader
awards are drawn from annual Mobile Banking Financial Institution
Scorecard report. The research layers rich analysis of mobile
offerings at the top 30 retail banks with key trends,
recommendations and implications for mobile banking executives.
Fifth Third received a perfect score along with three other
financial institutions.
About Fifth Third
Fifth Third Bancorp is a diversified financial services
company headquartered in Cincinnati, Ohio. The Company has$142
billion in assets and operates 1,241 full-service Banking
Centers, including 95 Bank Mart® locations, most open seven days a
week, inside select grocery stores and over 2,500 ATMs
in Ohio, Kentucky, Indiana, Michigan, Illinois,Florida, Tennessee, West
Virginia, Pennsylvania, Georgia and North
Carolina. Fifth Third operates four main businesses: Commercial
Banking, Branch Banking, Consumer Lending, and Investment
Advisors. Fifth Third also has an 18.3% interest in Vantiv
Holding, LLC. Fifth Third is among the largest money managers in
the Midwest and, as of March 31, 2016, had $303
billion in assets under care, of which it managed $26
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, Equal Housing Lender
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Fifth Third BankLaura Trujillo,
513-534-4361Laura.trujillo@53.com
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