CINCINNATI--(BUSINESS WIRE)--Fifth Third Bancorp (Nasdaq: FITB) today announced a minority investment in Zipscene, LLC, a Cincinnati-based company that specializes in consumer analytics for the restaurant industry.
The investment in Zipscene builds on the strategic portfolio Fifth Third is developing, in support of the growth of its Payments and Commerce Solutions group. The group was formed in 2014 to invest in and support commerce solutions that enable healthcare and retail businesses to better serve their customers.
“Zipscene has a strong track record of connecting restaurants to their guests by leveraging technology to better understand factors that influence dining patterns,” said Randy Koporc, executive vice president and Head of Fifth Third Payments and Commerce Solutions. “Fifth Third’s investment in Zipscene demonstrates progress against our commitment to developing a pipeline of intelligent commerce solutions.”
Zipscene makes restaurant marketing more intelligent by finding patterns in guest behavior. Their flagship Data Management Platform (zDMP) works with all existing sales and marketing platforms, providing unique transactional, demographic and behavioral analytics to enable brands to optimize marketing efforts across all media, specifically digital. zDMP helps corporate marketing teams develop a roadmap that results in a more personalized customer experience, greater brand loyalty and revenue enhancements for their operating locations.
“We are thrilled to have Fifth Third’s investment to support Zipscene’s expansion,” said Sameer Mungur, CEO of Zipscene. “As intelligent digital marketing becomes indispensable, Zipscene will allow brands to engage their customers at every stage of the dining experience.”
About Fifth Third Bank
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company had $142 billion in assets and operates 1,295 full-service Banking Centers, including 99 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,650 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2015, had $297 billion in assets under care, of which it managed $25 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC.