Turnkey Service for Zelle allows banks and credit unions of all sizes
to efficiently connect to growing payment network
BROOKFIELD, Wis.--(BUSINESS WIRE)--Oct. 10, 2018--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, today announced that a growing number of financial
institutions are enhancing their person-to-person (P2P) payment
capabilities by joining the Zelle Network® via Fiserv. Bank
of the West, Comerica Bank, Dollar Bank, Navy Federal Credit Union, and
Zions Bancorporation, N.A. are among the most recent to go live on
Turnkey Service for Zelle® from Fiserv to facilitate an
efficient connection to the network. In total, more than 100
banks and credit unions have selected Fiserv to enable Zelle and
are currently live or will be going live in the future.
Zelle allows consumers to send money directly from their online
banking accounts and mobile banking apps with access to funds within
minutes when both parties are already registered1. In 2017,
the Zelle Network processed more than 247 million transactions,
totaling $75 billion in funds. In the second quarter of 2018, more than
100 million transactions and $28 billion in payments moved through the Zelle
Network.Zelle is averaging approximately 100,000
enrollments per day. With consumer demand for Zelle growing,
financial institutions are seeking to enable the service quickly to meet
consumer demand and enable an easy payments experience.
“Our customers trust us to deliver capabilities that align to the
digital way they live today,” said Hisham Salama, executive vice
president and head of digital channels, Bank of the West. “Zelle
makes it possible for people to send and receive money when and how they
want. With consumer familiarity and product functionality continuously
growing, this was the right time for us to begin offering the service.”
“People are looking for quick, easy and secure ways to send money,” said
James Manseau, executive vice president and chief retail banking officer
at New York-based BNB Bank, which has signed for Turnkey Service for Zelle.
“As a community bank in a competitive market, we rely on our partnership
with Fiserv to help us remain on the forefront of payment trends. Zelle
fits the bill for our clients because it integrates within our mobile
banking app, allowing them to send money to almost anyone they know.”
Arvest Bank, BECU, Regions Bank, Washington Federal and Vystar Credit
Union are among the additional financial institutions committed to
enable Turnkey Service for Zelle.
“For today’s consumer, convenience is paramount, and when it comes to
moving money trust is vitally important,” said Tom Allanson, president,
Electronic Payments, Fiserv. “With Turnkey Service for Zelle
banks and credit unions of all sizes can offer people a way to send
money to those they know through their trusted financial institution,
providing one more way to strengthen the customer connection.”
Turnkey Service for Zelle streamlines the onboarding process
for financial institutions connecting to Zelle, helping to reduce
costs and accelerate time-to-market.
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.
1 Transactions typically occur within minutes between
enrolled users. If a recipient is not enrolled with Zelle, it
could take 1 to 3 business days to receive the money once enrollment is
completed.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and
deliver financial services experiences 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 five consecutive years, recognized for
strength of business model and innovation leadership. Visit fiserv.com
and follow
on social media for more information and the latest company news.
FISV-G
View source version on businesswire.com: https://www.businesswire.com/news/home/20181010005551/en/
Source: Fiserv, Inc.
Media Relations:
Ann Cave
Director, Public Relations
Fiserv,
Inc.
678-325-9435
ann.cave@fiserv.com
or
Additional
Contact:
Marcus Hardy
Manager, Public Relations
Fiserv,
Inc.
801-823-5534
marcus.hardy@fiserv.com