Northwest Financial Corp. Sees P2P Payment Usage Rise After Joining Zelle Network via Fiserv
October 08 2019 - 8:49AM
Business Wire
Community bank customers can access
person-to-person payments service directly via their checking
account
Northwest Financial Corp. has seen positive results after
joining the Zelle Network via Fiserv, Inc. (NASDAQ: FISV), a
leading global provider of payments and financial services
technology solutions. Participating in Zelle® has enabled the bank
to attract and retain customers with a recognizable and in-demand
offering that meets the needs of their varied customer base.
Following the launch of Zelle in December 2018, the number of
new active person-to-person (P2P) payments users at Northwest
Financial has tripled, and transaction volumes have increased 152%.
To date, Northwest Financial customers have sent over $2 million
using the service.
Northwest Financial operates a network of community banks and
affiliates in Iowa and Nebraska, serving customers through its two
bank charters, Northwest Bank and First National Bank in Creston.
The banks employ a digital-first strategy to serve customers in
both rural and urban communities.
With Zelle, Northwest Bank and First National Bank in Creston
customers can send money directly from their online banking
accounts and mobile banking apps. Recipients typically can access
funds in minutes when already enrolled in Zelle.
“Community banks play a key role in facilitating access to
financial services that make people’s lives easier,” said Greg
Post, president, Northwest Financial Corp. “P2P payments fit that
description, and the intuitive and consistent user experience of
Zelle has proven appealing to customers.”
Northwest Financial values both the consistent user experience
and increasing brand recognition of Zelle, attributes that can help
foster user confidence in a rapidly changing and sometimes
confusing payments landscape. In addition to steady adoption, the
bank has received positive feedback about the service from
customers.
“Zelle integrates into our online and mobile channels,” said Pam
Burch, Director - IT Product & Service Delivery, Northwest
Financial Corp. “We wanted to make sure the service was easy to
access, because people would be more likely to use it.”
Northwest Financial has actively marketed Zelle, leveraging
pre-built marketing campaigns from Fiserv that focus on the
benefits of the service and appeal to customer’s different
lifestyles and ages, to drive further adoption and increased
usage.
“Consumer demand is continuing to drive the adoption of Zelle at
financial institutions of all sizes,” said Tom Allanson, division
president, Electronic Payments, Fiserv. “Northwest Financial Corp.
is giving their customers the ability to access a service that
resonates with them and fits into their daily lives, helping them
stand out and attract and retain customers in a competitive
market.”
Northwest Financial Corp. is utilizing Turnkey Service for Zelle
from Fiserv, which 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.
Zelle and the Zelle related marks are property of Early Warning
Services, LLC.
Additional Resources
- Zelle Provides Opportunity, Increases Retention for a Community
Bank(video) - fisv.co/ZelleFNBCreston
About Northwest Financial Corporation
Northwest Financial Corp. is a family owned organization led by
Neal and Dwight Conover and includes two bank charters, Northwest
Bank and First National Bank in Creston, and Northwest Wealth
Management, LLC. Northwest Financial Corp. believes in their vision
statement to positively impact the financial well-being of
employees, customers and communities every day, and actively help
them to pursue their financial dreams of tomorrow.
About Fiserv
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 the
FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com
and follow on social media for more information and the latest
company news.
FISV-G
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version on businesswire.com: https://www.businesswire.com/news/home/20191008005560/en/
Media Relations: Ann Cave Director, Public Relations
Fiserv, Inc. 678-325-9435 ann.cave@fiserv.com Additional
Contact: Marcus Hardy Manager, Public Relations Fiserv, Inc.
801-823-5534 marcus.hardy@fiserv.com
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