Fifth Third Announces Acquisition of Leading POS Lender Dividend Finance

Ohio-based Fifth Third Bancorp announced the closure of its acquisition of leading POS lender Dividend Finance, giving financing solutions for residential renewable energy and sustainability-focused home improvement.

Dividend Finance has a large portfolio of loan products spanning multiple proprietary POS platforms and has built a one-stop solution that allows contractors to provide their customers with the best financing experience. 

Dividend’s digital lending platform allows for customizability, providing contractors with the necessary tools to win new business and borrowers with a streamlined process for financing home improvement projects.

“The addition of Dividend Finance enhances the scale of our digital service capabilities through its tech-forward platform, provides customers and contractors with a best-in-class experience, and accelerates customer adoption of solar and sustainable home improvements, which are even more compelling given rising energy prices,” said Tim Spence, President, Fifth Third Bancorp. “We expect to grow the Dividend platform significantly and further our ESG leadership position.”

“Fifth Third has continued to impress us with its serious commitments to financing the sustainable energy revolution, empowering its customers and its leadership in financial technology innovation,” said Eric White, President, Dividend Finance. “The Dividend Finance organization is thrilled to be joining the Fifth Third family to advance our bold shared ambitions.”

Fifth Third has its aim on three environmental sustainability strategies: reducing the Bank’s environmental footprint, managing climate-related risks, and supporting our customers and communities in the transition to a more sustainable future. In 2020, the company set its first sustainable finance goal of $8 billion to be achieved by 2025. This includes lending and financing for solar, wind, geothermal, biomass, and hydropower.