Melissa Stevens, chief digital officer, Fifth Third Bank

Melissa Stevens, chief digital officer of the 160-year-old Fifth Third Bank, is using data to advance the bank’s innovation and customer service strategy, one that hinges on being a relationship-based bank.

“How many years have we all been holding all the transaction information for you about your life, but we offer you something that has nothing to do with any purchase you’ve ever made?” Stevens said during a fireside chat at Bank Innovation Ignite in March. “There are opportunities that are pretty basic, especially in the consumer retail space, but they’re not used in such a sophisticated way in banking.”

Fifth Third focuses on data sets related to the products customers have and the solutions they’re actively using to determine the next best thing the bank can offer. “We’re doing a lot more in terms of the data sets that look at multidimensional factors and determining how do we bring that to life, not in terms of sales but in terms of the best thing for our relationship with you,” Stevens said.

In this episode of “Fintech Unfiltered,” sponsored by Q2, Stevens outlines the tools banks should use to gain a better understanding of their customers, how Fifth Third organizationally and culturally structures its employees for maximum efficiency, and her “technology bets” that will transform banking.