The news: Fifth Third Bancorp is growing from investments in new branches across the Southeast US and enhancements to its digital banking platform, per PYMNTS.

The details: The bank opened 31 new branches in 2024 and plans to open 60 more in the Southeast in 2025 to further increase market share. And it’s not stopping there: Fifth Third aims to add 200 branches by 2028, with an even distribution of 50% in the Midwest and 50% in the Southeast.

The bank simultaneously improved its mobile app—making it easier for customers to switch direct deposits, avoid overdraft fees, and secure their identities. And that’s after already topping our rankings for its account opening features in 2022, which demonstrates the bank’s ongoing commitment to push digital boundaries.

Can it work? So far, Fifth Third saw a 2.3% year-over-year increase in household growth, with 6% growth in the Southeast region. This improvement in customer acquisition makes sense, because:

• While many FIs closed branches last year, those that expanded used physical presence as a key differentiating factor.
• And though we didn’t include regional banks in our mobile banking benchmark, Fifth Third has focused on providing some of the digital features customers want most.

Fifth Third’s growth highlights the value of a balanced approach—combining physical expansion with digital enhancements to drive customer acquisition and stay competitive in a rapidly evolving financial landscape.

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