US-based embedded payments provider, Fifth Third Bank and Stripe , a financial infrastructure platform that enables businesses to incorporate financial services in their products have recently announced a collaborative agreement. Together, the financial institutions will further expand the embedded financial services for Stripe’s platform users and their customers.

More on the collaboration between Fifth Third and Stripe By the end of 2024, Newline by Fifth Third will power Stripe Treasury, a new service that enables software platforms on Stripe to offer embedded financial accounts to their clients. Newline by Fifth Third is an API platform aimed to help enterprises launch and scale payment, card, and deposit products directly through Fifth Third Bank. Software platforms primarily choose Stripe as a business partner to simplify money movement so they can provide embedded, compliant financial services to their customers to scale their business.

The latest collaboration between Newline and Stripe will further enhance the latter’s ability to deliver compliant embedded money movement solutions. Currently, Fifth Third’s commercial payments businesses process USD 17 trillion in annual payments volume while serving 25% of the Fortune 100. What you need to know about Fifth Third and Stripe With a history of over 160 years, the bank is helping individuals, businesses, and communities to grow by providing smart financial services and products, including credit and debit cards, savings accounts, mortgages, personal loans and lines of credit, investment opportunities, and more.

Serving SMEs, mid-sized companies, and large corporations, the bank takes pride in creating tailored banking solutions for each of its clients’ needs, from investment and capital markets to treasury management, commercial payments, financial risk management, financing solutions, and more. At the same time, Stripe remains the largest fintech company with a valuation of around USD 65 billion and over USD 1 trillion in payment volume processed in 2023 alone. Headquartered in Ireland and the US, the company mainly offers payment processing software and application programming interfaces for ecommerce websites and mobile applications.

Some of the solutions provided include embeddable checkout, simplified PCI compliance, invoice support, global payments with single integration, data security and encryption, payouts, and third-party integrations. .