Automated Financial Systems, Inc. Announces Selection of AFSVision® by Fifth Third Bank, the Next Generation Commercial Lending System
EXTON, Pa.–(BUSINESS WIRE)–Automated Financial Systems, Inc. (AFS®) today announced that Fifth Third Bank, National Association, an indirect subsidiary of Fifth Third Bancorp (NASDAQ:FITB), has signed on to convert and consolidate its commercial and capital markets systems to AFSVision, the state of the art of AFS’ next generation commercial lending system.
“We know that to keep winning and growing, we have to constantly evolve and adapt. In choosing a future-ready replacement for our commercial and syndicated loan systems, we needed a company whose philosophy matched ours, and we found it in AFS,” said Jude Schramm, Director of information, Fifth Third Bank. “We know that our selection of AFSVision will accelerate our digital transformation initiative while enabling growth, profitability, risk management and a better experience for our customers.”
AFSVision is a single, integrated lending system for all business lines. Its ability to integrate with and into third-party systems promotes seamless processing through its unique suite of digital capabilities. AFS provides configurable, real-time management of commercial loan portfolios of any size, from initial client contact through servicing and reporting. AFSVision provides a unified, globally available banking experience, providing financial institutions with 24/7 real-time digital and mobile access, enabling banks to better serve their customers.
“We are excited to continue our long-standing relationship with Fifth Third to provide a vital part of their platform modernization initiative, supporting their long-term goals and success. AFSVision helps our clients focus on their core business while streamlining processes, creating efficiencies and improving the experience of their own clients, which aligns with the Bank’s strategic priorities,” said Richard Bare, CEO and President of AFS.
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent of Fifth Third Bank, National Association, a federally chartered institution. As of December 31, 2021, the company had $211 billion in assets and operated 1,117 full-service banking centers and 2,322 Fifth Third-branded ATMs in Ohio, Kentucky, Indiana, Michigan, Florida. Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third offers its customers access to approximately 54,000 free ATMs across the United States. Fifth Third operates four primary businesses: commercial banking, branch banking, consumer lending, and wealth and asset management. Fifth Third is one of the largest fund managers in the Midwest and, as of December 31, 2021, had $554 billion in assets under management, including $65 billion for individuals, businesses and nonprofits. through its Trust and Registered Investment Advisory Firms. Investor information and press releases can be viewed at www.53.com. The common stock of Fifth Third trades on the NASDAQ® Global Select Market under the symbol “FITB”.
AFS is the global leader in providing real-time, end-to-end lending solutions to the world’s premier institutions as well as regional and de novo clients. Solely dedicated to the financial industry, AFS is uniquely positioned to support the business and technology transformation of our clients, as evidenced by our solutions processing over $3 trillion in small business, commercial, CRE, wealth management and unionized. AFS customers have achieved measurable results in customer expansion, revenue growth and efficiencies that outpace their competitors. AFS is headquartered in Exton, Pennsylvania, with an office in Brussels, Belgium. For more information, please visit www.afsvision.com.