BROOKFIELD, Wis.—Fiserv has announced a growing number of financial institutions are enhancing their person-to-person 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 Zellefrom 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, Fiserv stated.
Zelleallows 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 registered. In 2017, the ZelleNetwork 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.Zelleis 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, Fiserv said.
‘The Digital Way to Live’
“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. “Zellemakes 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.”
“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 Zellebanks 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.”