Financial SoftwareNearly 600 Banks and Credit Unions Join Zelle Network via Fiserv

Patelco Credit Union and SunWest Federal Credit Union among financial institutions that have selected Turnkey Service for Zelle® from Fiserv
BusinessWire BusinessWireFebruary 25, 20205 min

Fiserv, Inc. (NASDAQ:FISV), a leading global provider of financial services technology solutions, announced today that a growing number of financial institutions are joining the Zelle Network® via Fiserv to enable person-to-person (P2P) payment capabilities. To date, nearly 600 financial institutions have selected Turnkey Service for Zelle® from Fiserv, with more than 360 making their selection in 2019.

The number of financial institutions that are live on Turnkey Service for Zelle has increased tenfold compared to a year ago, and there has been expansive growth in both the number of people transacting and the number of transactions processed through the service. In 2019, the number of people using Zelle via Fiserv to send money increased 116%, while the number of people using Zelle via Fiserv to receive money increased 145%. The number of transactions increased 207% year-over-year.

Zelle allows consumers to send and receive money directly from one U.S. bank account to another, typically within minutes when both parties are already enrolled. Turnkey Service for Zelle streamlines the onboarding process for financial institutions connecting to Zelle, helping to reduce costs and accelerate time to market.

Patelco Credit Union and SunWest Federal Credit Union are among the financial institutions that have selected Zelle. fintech news

“With Zelle, our members will have the ability to send and receive funds fast, and maintain control of their money by timing payments deliberately, even down to the hour,” said Kevin Landel, senior vice president of Innovation and Payments Strategy at the $7.3 billion Patelco Credit Union of California. “This provides our members maximum flexibility to help them achieve financial health and wellbeing, our core mission at Patelco.”

“We initially took a ‘wait and see’ approach when it came to Zelle,” said Katie Defeo, marketing director at SunWest Federal Credit Union, which serves members in Maricopa County and the city of Tucson, Arizona. “Then we saw that the number one word being searched on our website was ‘Zelle’, and we changed our minds. We realized this was something our members were seeking, and Turnkey Service for Zelle offered a practical way for us to get started.”

“Keeping up with continually changing consumer expectations is an ongoing challenge for retail financial institutions,” said Tom Allanson, president, Electronic Payments, Fiserv. “Technology can level the playing field, and Turnkey Service for Zelle enables financial institutions of all sizes to offer P2P payments and grow customer interactions.”

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.

BusinessWire

BusinessWire

Leave a Reply

Your email address will not be published. Required fields are marked *

We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications




FintecBuzz, 2021 © All Rights Reserved