Zelle, Fiserv Partnership Now Working With 1K Banks, Credit Unions

Nekoosa Port Edwards State Bank in Wisconsin started offering Zelle to its customers and marked the 1,000th financial institution (FI) using the digital payments network Zelle via financial services tech company Fiserv.

Zelle enables people to transfer money from one U.S. bank account to another, typically in just a few minutes if both consumers are using Zelle, according to a press release on Thursday (June 9). 

Fiserv’s tool Turnkey Service for Zelle enables fast onboarding of financial institutions while also lowering costs and speeding implementation timelines. An estimated 65% of FIs offering Zelle do so with Fiserv, according to the release. Since April, FIs using the combined service have seen a 34% boost in active users and a 36% rise in Zelle transactions.

Read more: Zelle Users Made Nearly $500B in Payments in 2021

“Real-time, digital payments are now a must-have solution for financial institutions, as more of today’s consumers expect to be able to send and receive money instantaneously and directly using their bank accounts,” said Matt Wilcox, president of digital payments and data solutions at Fiserv. 

“Welcoming Nekoosa Port Edwards as our 1,000th live client is a testament to the growing popularity of Zelle, and underscores the importance of connectivity among financial institutions, businesses and consumers,” Wilcox added.

See also: Banks Consider Adding Zelle to Retail Payments as Alternative to Mastercard, Visa

Nekoosa Port Edwards State Bank is a local community bank that serves both business and retail consumers. It strives to exceed its customers’ expectations and has long-standing relationships with the people who bank there.

“Through our partnerships — like this one with Fiserv and Zelle — we, like many others, have been able to integrate technology and allow our small-town bank to remain relevant, competitive and act as an integral asset for our community while upholding our customer-first values,” said Robb Sigler, president of Nekoosa Port Edwards State Bank. 

“Our business is relationships, and we feel very lucky to be strengthening the constant and reliable service we provide to our community by now offering Zelle,” Sigler said.