Fifth Third Bancorp is partnering with technology services firm Interapt to create a multistate job training and apprenticeship program, including one Cleveland neighborhood.
The partnership was announced Monday during a press conference.
Louisville, Kentucky-based Interapt will train 100 participants for jobs in in-demand fields like software development, UX/UI design, and data science. The individuals who successfully complete the program will be eligible for paid apprenticeships at Fifth Third (Nasdaq: FITB), the ninth-largest U.S.-based consumer bank.
Ankur Gopal, Interapt founder and CEO, said he hopes the initiative inspires other businesses to invest in individuals from minority or underserved communities.
“There is no secret that there is a tech talent shortage around the country. In fact, there is a talent shortage around the country. If this is not a way to solve the national crisis that is around us, I’m not sure what is," Gopal added.
Gopal said Fifth Third was an ideal partner for this program because the bank believes in giving back to the communities it serves.
The initiative is part of Fifth Third’s Neighborhood Investment Program, which the bank announced in October 2021. The $180 million program is designed to accelerate revitalization in nine majority-Black communities across seven states. Over a three-year period, Fifth Third has pledged to provide up to $20 million in lending, investments, and philanthropic support to each neighborhood.
The nine neighborhoods include:
- Avondale, Cincinnati
- Near East Side, Columbus
- South Chicago
- Buckeye, Cleveland
- East Tampa, Florida
- Grove Park, Atlanta
- Arlington Woods, Indianapolis
- Historic West End, Charlotte, N.C.
- Russell, Louisville
The participants in the new Interapt program will be recruited from these communities with the help of Fifth Third's community partners. Those interested in participating in the training program can contact them or apply online here.
Kimberly Halbauer, president of Fifth Third Bank's Kentucky, said workforce development is one of the goals of the neighborhood investment because of the potential impact it can have on future generations of a family.
“Our goal is to start with nine neighborhoods across the country, find a way to create generational wealth and afford people the opportunity to have long term impactful success," Halbauer explained. "And then take that and replicate it in other neighborhoods as well."
Melissa Stevens, Fifth Third's executive vice president and head of digital and marketing, added that: “It’s time for us to band together, and find new and different ways to support these communities, and this is an innovative way for us to do it."
