Newline by Fifth Third Partners with Trustly for Embedded Payments
Newline by Fifth Third Bank, the bank's API-driven embedded banking platform, announced a partnership with Trustly to integrate ACH, RTP, and open banking payment capabilities into its offering. The platform allows enterprises to build and launch payment, card, and deposit products with a direct banking relationship with Fifth Third. The Trustly partnership expands Newline's payment rail options, giving enterprise clients more flexibility in how they move money.
Newline was also recognized with a 'Best New Embedded Payments Platform' award, underscoring its growing prominence in the BaaS space. Fifth Third's direct-to-bank model differentiates Newline from middleware BaaS providers by reducing counterparty risk and regulatory complexity. The partnership strengthens Fifth Third's position as one of a growing number of traditional banks actively competing in the embedded finance market.
- Traditional banks like Fifth Third are increasingly competing directly in the BaaS market, bypassing middleware providers
- The direct bank-to-enterprise model may gain regulatory favor as the OCC and FDIC scrutinize third-party BaaS arrangements