Brex and Fifth Third Financial institution have entered a multiyear partnership that makes use of Brex Embedded to energy the financial institution’s new industrial card, bringing fashionable spend administration and AI-driven automation to Fifth Third’s industrial purchasers.
The combination offers companies entry to Brex’s finance platform, enabling real-time funds, automated expense workflows, company card issuance, and AI brokers that streamline closing the books and controlling spend.
The partnership is strategically important for each side. It expands Brex’s attain into established industrial banking whereas serving to Fifth Third differentiate itself with an AI-powered different to legacy expense administration instruments.
Company card and expense administration fintech Brex introduced a brand new partnership with Fifth Third Financial institution this week. Within the multiyear settlement, Fifth Third will leverage Brex Embedded, Brex’s API-driven funds infrastructure to energy the Fifth Third Industrial Card.
By way of the combination, Fifth Third’s industrial purchasers will acquire entry to Brex’s finance software program platform that can allow them to concern company playing cards, automate expense administration, and make safe, real-time funds. Prospects may also use Brex’s AI brokers that automate advanced workflows to shut the books quicker, scale back guide overview, and management spending.
“The way forward for enterprise calls for monetary platforms that do greater than course of funds—they have to energy progress,” mentioned Fifth Third Chairman, CEO, and President Tim Spence. “Our partnership with Brex is a dedication to redefine how corporations leverage monetary know-how. By combining the energy of a number one financial institution with Brex’s AI-driven innovation, we’re creating clever options that simplify complexity, drive effectivity, and allow companies to scale globally with confidence.”
For a long-standing, conventional monetary establishment like Fifth Third, this partnership will convey fashionable, AI-powered know-how into its industrial banking enterprise. The brand new industrial card will turn into the default industrial card resolution for the financial institution’s industrial purchasers.
“This partnership modifications all the pieces. By combining Fifth Third Financial institution’s monetary energy with Brex’s AI-driven know-how, we’re delivering an clever platform that automates workflows, enhances visibility and eliminates guide processes,” mentioned Fifth Third’s Head of Industrial Funds Bridgit Chayt. “Companies acquire real-time insights, international scalability and finance instruments that work proactively on their behalf—liberating groups to deal with technique, not spreadsheets. We’re introducing a brand new commonplace for velocity, accuracy and management in industrial finance.”
Brex was based in 2017 to create a digital-first enterprise banking resolution. The corporate affords enterprise financial institution accounts with bank cards which have built-in rewards, spend controls, and expense monitoring. The accounts present companies entry to their on-line income, billpay instruments, and integration with fashionable accounting instruments.
Brex shortly rose to prominence within the fintech area after positioning itself as a digital checking account and card providing for startups. The corporate sought to unravel ache factors that always include company playing cards, together with prolonged approval processes and restrictive credit score limits. Inside simply two years, Brex managed to lift billions of {dollars} in funding and obtain unicorn standing.
In 2022, nevertheless, as Brex sought to develop its shopper base from small companies to bigger, venture-backed corporations, the corporate skilled a downward shift. In pivoting towards this goal market, Brex discontinued a few of its providers geared towards small companies, lots of which had been the fintech’s authentic prospects. This pivot required a few of Brex’s authentic small enterprise purchasers to depart to hunt different options.
Regardless of the dip, Brex stays a serious participant within the fintech area, serving “tens of 1000’s of companies” starting from small non-public corporations to massive public manufacturers, together with Airbnb and ClassPass.
For Brex, the partnership is strategically important. After years of repositioning towards bigger, venture-backed corporations, embedding its know-how inside a serious US financial institution offers the corporate a brand new distribution channel and a path to achieve established industrial purchasers. For Fifth Third, the partnership serves as a differentiating issue from friends that also depend on dated expense administration instruments and guide workflows. Total, the partnership raises expectations throughout the industrial banking class.
Photograph by Karola G
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