For Fifth Third Bank, a 160-year-old institution, digital transformation isn’t about going head-to-head with the largest banks. Instead, the bank is focusing its digital strategy on meeting human needs, said Melissa Stevens, chief digital officer of Fifth Third Bank, in the fireside chat at Bank Innovation Ignite in Seattle on Monday.

“We’re not trying to become one of the top billionaire banks,” said Stevens, who has been in her role for four years. “We are very comfortable with who we are, which starts with a relationship-based bank.”

The relationship-based bank, according to Stevens, studies customer data to truly understand customer pain points and learn where the bank can step in to help. Fifth Third’s digital transformation under Stevens’ tenure involves a focused approach to studying customer behavior patterns and cementing fintech partnerships and acquisitions to extend the bank’s reach.

“’We’re doing a lot more in terms of the data sets that are looking 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 explained. She noted that the banking industry has a long way to go to ensure interventions with customers are contextually relevant.

See also: Fifth Third’s Dobot savings app hits $425M in savings goals since launch  

“If you’re a Starbucks person, we’re offering you Peet’s; if you’re a Dunkin’ Donuts person, we’re offering you Starbucks,” remarked Stevens, who added that data-driven transactions can help institutions deliver suggestions that align with customer needs.

“[If] we see you’re going a little bit into too much revolving credit on your credit card, and maybe there’s a loan solution that’s a better package for you,” she noted as an example.

Regarding Fifth Third’s fintech strategy, Stevens said customer needs, as well as the ability to use fintech partnerships to nurture talent and market reach, were key considerations.

“It’s a great opportunity to do three things: one, get the solution to market from a speed to solution standpoint as fast as possible; two, to acquire great talent who are experts in what they do, and three, affect our organization.”

On acquisitions, Stevens brought up the example of savings app Dobot, a platform developed by a startup that Fifth Third acquired in 2018. The app functions as a way to humanize an automated savings tool through nudges and celebrations when savings goals are attained.

At the heart of Fifth Third’s digital transformation is a shift from a project- to  product-management approach, from waterfall to an agile pattern.

“With a large corporation, you know, we don’t move that fast; we change our mind when you’re almost at the goal lines,” said Stevens. “Those that have been there a long time, don’t believe they ever get a second release, so they try to jam everything into [the first product] release.”

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