Fifth Third Completes Acquisition of Big Data Healthcare, Further Accelerating Bank’s Digital Payments and Managed Services Offerings
May 15 2023 - 8:00AM
Business Wire
Fifth Third Bancorp (NASDAQ: FITB) today announced it has closed
the acquisition of Big Data LLC, a technology solutions provider
for healthcare payments and remittance. The transaction adds
national healthcare revenue cycle capabilities, addressing the
complex and complicated needs of clients, while building on Fifth
Third’s legacy of digital innovation and focus on the healthcare
sector.
“Fifth Third has a long history of expertise in the healthcare
banking space and is deeply committed to bringing our solutions to
healthcare clients,” said Kevin Lavender, head of commercial
banking at Fifth Third Bank. “This acquisition allows Fifth Third
and Big Data Healthcare to collaborate, scale and continue to
accelerate healthcare technology solutions that benefit current and
future clients.”
Big Data Healthcare optimizes healthcare results through
intelligent data automation. Its core solution FUSE is a
bank-neutral online portal that automates remittance reconciliation
back to deposits and provides visibility improving data and file
management while working in tandem with existing systems.
“We value the relationships and experience of the Big Data
Healthcare team,” said Bridgit Chayt, head of wholesale payments.
“We’re committed to helping solve for the unique challenges our
clients face from manual processes to regulatory complexities.”
“We’re impressed with Fifth Third’s commitment to maintain and
grow existing business, while remaining an agile and neutral
partner,” said David Plotkowski chief executive officer, Big Data
Healthcare. “They truly are committed to keeping the client at the
center and we look forward to mutual success in the future.”
The acquisition was made by an indirect wholly-owned subsidiary
of Fifth Third and financial terms were not disclosed.
About Fifth Third
Fifth Third is a bank that’s as long on innovation as it is on
history. Since 1858, we’ve been helping individuals, families,
businesses and communities grow through smart financial services
that improve lives. Our list of firsts is extensive, and it’s one
that continues to expand as we explore the intersection of
tech-driven innovation, dedicated people and focused community
impact. Fifth Third is one of the few U.S.-based banks to have been
named among Ethisphere’s World’s Most Ethical Companies® for
several years. With a commitment to taking care of our customers,
employees, communities and shareholders, our goal is not only to be
the nation’s highest performing regional bank, but to be the bank
people most value and trust.
Fifth Third Bank, National Association is a federally chartered
institution. Fifth Third Bancorp is the indirect parent company of
Fifth Third Bank and its common stock is traded on the NASDAQ®
Global Select Market under the symbol "FITB." Investor information
and press releases can be viewed at www.53.com.
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Adrienne Gutbier (Media Relations) adrienne.gutbier@53.com |
513-534-8038
Chris Doll (Investor Relations) christopher.doll@53.com |
513-534-2345
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