Fiserv & Early Warning P2P Payments Alliance Gets Quick Start with Multiple Financial Institutions Committing to Early Warnin...
October 24 2016 - 8:35AM
Business Wire
Ally Bank, Bank of the West and BECU are among
banks and credit unions that will access the newly launched service
via Fiserv
Fiserv, Inc. (NASDAQ:FISV), a leading global provider of
financial services technology solutions, announced today that
multiple financial institutions, including Ally Bank, Bank of the
West and BECU, have committed to join Early Warning’s ZelleSM
Network via an alliance between Fiserv and Early Warning.
Early Warning launched Zelle at the Money20/20 conference in Las
Vegas this week. The network will be offered by many of the
country’s leading financial institutions, and will provide
consumers with a faster way to send and receive payments within the
security of their financial institution.
Fiserv will offer the first turnkey version of Zelle to simplify
integration for financial institutions of all sizes. The Fiserv
turnkey solution will offer all the elements of the Zelle solution
in a single platform to reduce costs and speed time to market for
financial institutions.
“We are always looking for opportunities to make it easier for
our customers to bank with us,” said Diane Morais, CEO and
president, Ally Bank. “Transferring money via payment services
is among the digital banking activities growing in popularity with
consumers, and we’re excited to be working with Fiserv and Zelle to
offer faster P2P services for our Ally Bank customers.”
The person-to-person (P2P) payments landscape is competitive and
highly fragmented. People want to be confident that when they send
money it will get to the intended recipient, and get there quickly.
This requires reach and connectivity across all consumers,
regardless of where they bank.
“At Bank of the West we are committed to providing our customers
with great banking experiences through innovative, digital
solutions that help simplify their busy lives,” said Andy
Harmening, vice chairman, Consumer Banking, Bank of the West. “We
are proud to be working with Fiserv and Zelle owner Early Warning
to offer faster person-to-person payments to our customers –
helping ensure that they will be able to seamlessly pay other
people in real-time. This is a true step forward in the realm of
digital payment capabilities.”
Fiserv and Early Warning announced their alliance, designed to
extend the availability of real-time person-to-person payments to
thousands of financial institutions and millions of people, in
August 2016. Together, Fiserv and Early Warning reach more than
6,000 banks and credit unions, including the 40 largest financial
institutions in the U.S. and thousands of mid-size and community
financial institutions. This reach helps ensure consumers have
access to faster, secure P2P payment capabilities.
“Our members turn to us for simple and relevant payment
options,” said Doug Marshall, SVP of Retail at BECU, one of the
nation’s largest credit unions. “Almost a decade ago, BECU was
one of the first financial institutions to provide person-to-person
payments with Fiserv. We’re looking forward to expanding on that
relationship and providing a real-time payment solution through
Zelle in the near future.”
“The strong initial interest in working with Fiserv to access
the Zelle network underscores the commitment financial institutions
have to delivering a consistent, convenient person-to-person
payments experience,” said Kevin Schultz, president, Digital
Banking, Fiserv. “A ubiquitous payments service supported by a
strong brand and a compelling user experience provides financial
institutions with a significant opportunity to grow the visibility
and use of person-to-person payments.”
Zelle is accessed directly from within a financial institution’s
mobile banking service and enables people to send money using only
a recipient’s email address or cell phone number.
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 TheSpeedofLife.com.
About Fiserv
Fiserv, Inc. (NASDAQ:FISV) enables clients to achieve
best-in-class results by driving quality and innovation in
payments, processing services, risk and compliance, customer and
channel management, and business insights and optimization. For
more than 30 years, Fiserv has been a global leader in financial
services technology. Fiserv is a FORTUNE 500 company and this year
was honored to be named a FORTUNE magazine's World's Most Admired
Company for the third consecutive year. In 2015 the company was
recognized among Forbes magazine's America's Best Employers. For
more information, visit Fiserv.com.
About Early Warning
Early Warning is creating the future of payments by delivering
innovative payment and risk solutions to financial institutions
nationwide. For over 25 years, Early Warning has been a leader in
financial technology that protects and advances the financial
system. Learn more at www.earlywarning.com.
FISV-G
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version on businesswire.com: http://www.businesswire.com/news/home/20161024005724/en/
Media Relations:Ann CaveDirector, Public RelationsFiserv,
Inc.678-325-9435ann.cave@fiserv.comAdditional Contact:Elizabeth
McMillanDirector, Corporate CommunicationsFiserv,
Inc.678-231-3443elizabeth.mcmillan@fiserv.com
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