Fifth Third Bancorp closed its acquisition of Dividend Finance, a financial technology point-of-sale (POS) lender that provides financing solutions for residential renewable energy and sustainability-focused home improvement.
“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,” Tim Spence, president of Fifth Third Bancorp, said. “We expect to grow the Dividend platform significantly and further our ESG leadership position.”
Dividend Finance offers a range of loan products across multiple proprietary POS platforms. In addition to a contractor network and a technology platform, Dividend has a national customer footprint focused on prime and super-prime borrowers in the United States.
“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,” Eric White, who is joining Fifth Third as president of Dividend Finance, said. “The Dividend Finance organization is thrilled to be joining the Fifth Third family to advance our bold shared ambitions.”