BROOKFIELD, Wis.--(BUSINESS WIRE)--
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that multiple banks and credit
unions will join the Zelle Network℠ through Turnkey Service for Zelle℠
from Fiserv, allowing consumers to make fast person-to-person (P2P)
payments directly from their online banking sites and mobile banking
Zelle is a new P2P payments network from Early Warning that can
allow for funds to be sent from one bank account to another in minutes,
using only a recipient's email address or mobile number.
Among the financial institutions that will be enabling P2P payments via
Turnkey Service for Zelle is Citizens Bank, one of the nation's
largest financial institutions.
"Citizens is leveraging innovative digital technologies that create
better end-to-end experiences in the areas that matter most to our
customers," said Brad Conner, vice chairman and head of Consumer
Banking, Citizens Bank. "We want to be the first place our customers
turn when they need to send or receive money, and becoming part of the Zelle
Network via Fiserv will allow us to deliver a convenient,
user-friendly person-to-person payments experience to help our customers
bank when, where and how they prefer."
Additional banks and credit unions that have chosen Turnkey Service for Zelle
include Dollar Bank, First National Bank of Pennsylvania and
SchoolsFirst Federal Credit Union. They join previously announced
clients Ally Bank, Bank of the West and BECU.
Turnkey Service for Zelle offers all the elements of the Zelle
solution in a single platform to reduce costs and speed time to market
for financial institutions.
According to a recent report from payments industry analyst firm Aite
Person-to-Person Payments in the U.S.: The Competitive Landscape,
financial institutions held 83 percent of the digital P2P market share
in 2016, compared to alternative payment providers' 17 percent. The same
report also showed that in 2015, most American consumers still used cash
and checks for P2P payments, indicating an opportunity for overall
digital payments growth.
"Be it a long-distance emergency such as a family member needing money
for urgent expenses, a rent payment that needs to be made right away, or
a last-minute birthday gift, when life happens consumers often need to
be able to move money immediately," said Kevin Schultz, group president,
Digital Banking, Fiserv. "Financial institutions that are part of the Zelle
Network have an opportunity to capitalize on consumer preferences
for faster P2P payments."
In a world that is moving faster than ever before, Fiserv helps clients
deliver solutions that are in step with the way people live and work
today - financial services at the speed of life. Learn more at fiserv.com.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences that are in step with the way
people live and work today. For more than 30 years, Fiserv has been a
trusted leader in financial services technology, helping clients achieve
best-in-class results by driving quality and innovation in payments,
processing services, risk and compliance, customer and channel
management, and insights and optimization. Fiserv is a member of the
FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most
Admired Companies® for four consecutive years, ranking first in its
category for innovation in 2016 and 2017. For more information, visit fiserv.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170612005580/en/
Director, Public Relations
Elizabeth McMillan, APR
Source: Fiserv, Inc.
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