Fifth Third acquires Rize

Fifth Third Bank has acquired Rize , an embedded payments platform that provides payment infrastructure and risk management capabilities to fintechs and other technology companies that want to offer innovative financial products through a single application programming interface.

“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.”

Founded in 2014 by Justin Howell, Rize Money, Inc. is headquartered in Arlington, Virginia.

“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.”

The acquisition was made by an indirect wholly owned subsidiary of Fifth Third and financial terms of the transaction were not disclosed.