Intl Business Review 3

Intl Business Review 3 - Bryan Redic ACCT 2110 Professor...

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Unformatted text preview: Bryan Redic ACCT 2110 Professor Rich International Business Review #3 United States – 53 rd Fifth Third is a dynamic banking corporation that has emerged as one of the premier banks in the post-recession era. One of the key factors in Fifth Third’s success has been the ability to utilize innovation as a source for bringing in new cliental. The article that I examined details how Fifth Third has now incorporated a debit card and credit card into one card. The name of this new product is called the “Duo Card (The Financial Brand). Financial goes onto say that, “With the Duo Card, customers can choose to make purchases using either a line of credit or funds debited from their checking account” (The Financial Brand). This ingenious product has several implications that draw customers in. The first is the fact that cutting down on a number of cards in your wallet can drastically eliminate certain safety risks such as losing one’s card or other such related instances. If you have only one card that functions as a debit and credit card the chance of losing it will decrease. The second and more major implication that the duo card has is that if you accidently overdraft your account while utilizing the debit portion of the card, the card will automatically switch to credit and save you from annoying overdraft fees. Through this, it is easy to infer how Fifth Third has taken new approaches at innovation to draw customers to their banking corporation as opposed to other bank such as PNC or Bank of America. Recently this week, Fifth Third was rated by the RBC to “outperform” based upon its rise in loan balances and, “Growth in its commercial and industrial lending” (Business Week Fifth Third Rises). In addition RBC goes onto state that, “Ultimately, Third Rises)....
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This note was uploaded on 01/23/2012 for the course BUS 1000 taught by Professor Annerich during the Fall '10 term at Cedarville.

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Intl Business Review 3 - Bryan Redic ACCT 2110 Professor...

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