Fifth Third’s chief strategy officer and head of consumer products, Ben Hoffman has no doubt Fifth Third Bank’s peers and competitors are mulling some of the same mobile app features and enhancements as the lender. “There is more convergence in bank strategy than there is in bank execution,” said Hoffman. “It’s really about your ability to execute” at a sustained pace, he said. For Fifth Third, that means leaning on dedicated staff, operating rhythms and experience, and systems set up to support success, he said. The bank’s app offers services like direct deposit switching and card controls, and features tools like SmartShield, its in-app security tool that “gamifies” digital safety. The lender continues to work on enhancements to the app, which about 2.4 million bank customers use to handle everyday banking tasks. In Hoffman’s eyes, the bank’s approach stands out in part because of its focus on quality over quantity. “We focus on quality where it matters, with the core theory being that, for the most part, our customers want banking to fade into the background,” he said. Rather than stuffing apps with features or equipping chatbots with an ever-growing roster of skills, “it needs to just work to support real lives.” When Fifth Third releases a new feature in the mobile app, automated monitoring is set up to ensure the process works well; if there are defects, point people are contacted and troubleshooting begins. Product managers join release calls, no matter the hour, he noted. It’s an “intentionally unsexy” approach, he said. The bank’s technology and communications spending has ticked up in recent years, from $416 million in 2022, to $474 million in 2024, with increased investments in technology modernization being one of the drivers.