Fiserv Launches its 500th Financial Institution into Zelle Network
CB&S Bank joins hundreds of banks and credit unions already offering P2P payments
via Turnkey Service for Zelle® from Fiserv
BROOKFIELD, Wis., December 10, 2020 – Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Alabama-based CB&S Bank has become the 500th financial institution to go live on the Zelle Network® via Fiserv. As the list of banks and credit unions enabling person-to-person (P2P) payment capabilities with Turnkey Service for Zelle continues to grow, those financial institutions are also finding a path to real-time payments processing, one of the fastest-moving developments in the financial industry.
“We’ve put a lot of work into helping financial institutions get ahead of the proliferation of real-time payments,” said Matthew Wilcox, president, Digital Payments and Data Aggregation at Fiserv. “Our NOW® gateway, the connection point for real-time delivery, comes with every Zelle installation. It provides the foundation for real-time money movement and enables a number of other Fiserv payment applications including TransferNow®, our account-to-account (A2A) solution.”
“P2P is more important than ever, as the pandemic fuels transaction volume,” added Rory Ragsdale, vice president, Professional Services at Fiserv. “We’re continually improving the speed at which clients go live once they join the network, and we’re seeing double- and triple-digit adoption growth among consumer users of the service.”
Zelle allows consumers to send and receive money directly from one U.S. financial institution account to another, typically within minutes when both parties are already enrolled. That speed factored strongly in CB&S Bank’s decision to join the network.
“Customer service is paramount for us, and in today's environment that means providing our customers with the ability to send and receive money quickly and securely without having to physically be in contact with one another,” said Justin Hof, Senior Executive Vice President and Chief Digital Officer at CB&S Bank. “To achieve this, we entrusted Fiserv to integrate Zelle access into our mobile banking app and internet banking to promptly meet our customers’ needs.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
- Turnkey Service for Zelle - www.fiserv.com/en/solutions/payments/personal-payments-services/turnkey-service-for-zelle.html
About CB&S Bank
CBS Banc-Corp, Inc. is a bank holding company headquartered in Russellville, Alabama. The company’s banking subsidiary, CB&S Bank was founded in 1906 and is one of the largest community banks headquartered in Alabama with over 55 offices in Alabama, Mississippi, and Tennessee. The company offers a complete line of full-service banking products and other related financial services to retail and commercial customers through its subsidiaries. Additional information about the bank can be found at www.cbsbank.com.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
Brought to you by Early Warning Services, LLC, an innovator in payment and risk management solutions, Zelle makes it fast, safe and easy for money to move. The Zelle Network® connects financial institutions of all sizes, enabling consumers and businesses to send fast digital payments to people they know and trust with a bank account in the U.S. Funds are available directly in consumer bank accounts generally within minutes when the recipient is already enrolled with Zelle. To learn more about Zelle and its participating financial institutions, visit http://www.zellepay.com.
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