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Fifth Third Bank acquires embedded payment platform Rize Money

By Delisha Fernandes

May 24, 2023

  • Acquisition
  • API
  • Banking
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Fifth Third Bank Rize MoneyFifth Third Bancorp has announced the acquisition of Rize Money, an embedded payments platform that provides payment infrastructure and risk management capabilities to FinTechs and other technology companies.

Embedded payments are a core component of Fifth Third’s leading Treasury Management business, supporting clients who value scale, risk sophistication and a full range of payment types. The company is growing at double digits, and the annual revenue is projected to eclipse $130 million this year, complementing the existing embedded payments and Treasury Management businesses.

“This acquisition is another example of Fifth Third’s commitment to leveraging technology and innovation for the benefit of our clients,” said Bridgit Chayt, Head of wholesale payments at Fifth Third Bank. “The addition of Rize Money enhances our existing embedded payments offerings and positions us to meet our clients’ ever-changing needs.”

“Fifth Third Bank’s track record in this space and dedication to empowering its clients with financial technology innovation continues to impress us,” said Howell. “We are thrilled to join the Fifth Third team and advance our shared goals.”

Rize Money, a FinTech infrastructure platform that provides FinTechs, and other technology companies access to all the tools they need to efficiently build, launch, and scale new financial products and services via one API. Open deposit accounts, get access to payment rails and leverage innovative risk management tools all in one integrated platform.

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