At the end of 2020, when Melissa Stevens began running both digital and marketing for Fifth Third Bank, fewer than 10% of new customer checking accounts came through the digital channel. Now, she said, the bank is on track to end 2022 with more than 25% of sales originating online or on mobile. And this accomplishment, says Stevens, came from a huge step to shift not only the budget but also human resources toward growing the bank's digital channels.
This effort meant combining 150-plus employees from the two divisions to work toward these goals. "It also created improved focus, enabled career pathing and growth opportunities, and provided more than 20% of the employees with new or expanded responsibilities," Stevens said.
Stevens came to Cincinnati-based Fifth Third in 2016 after leading a series of digital initiatives at Citigroup. She is one of the few female executives at the bank, so she understands the importance of diversity and inclusion in the workplace.
Recently at Fifth Third she was able to demonstrate her commitment to inclusion when she helped an employee who was transitioning from female to male. She thoroughly researched the topic before writing a speech for a team meeting, informing the staffer's colleagues that his pronouns were now he/him and that he would have access to the men's bathroom. The most important message for the team: Celebrate this colleague for being able to share his real self with the team.
"I've experienced and led more open dialogue on inclusivity, and an acknowledgment by all that we need to recognize stereotypes and unconscious biases," Stevens said. "It always starts with a conversation and raising awareness."
This focus on communication also helped last year when Stevens saw a decline in her employees' engagement scores and an increase in turnover. To combat this, Stevens chose to be transparent, sharing the results with the 150-plus members of the team and recruiting other leaders to run listening sessions. These efforts have had an impact, as engagement scores have increased and turnover has slowed.
Locally, Stevens is a huge champion of fintech. She is the chair of FinTech Frontier, a collaboration between Fifth Third and area companies, jobs programs and other leaders that seeks to create a strong fintech community in Cincinnati. She is also a member of the board of Cintrifuse, which aims to support tech startups and founders in the area.
