CO-OP to Offer ZelleSM Network to Credit Unions Across the U.S., Expand Access to Real-Time P2P Payments
RANCHO CUCAMONGA, Cali., and SCOTTSDALE, Ariz., OCT 24th, 2016 – CO-OP Financial Services today announced a strategic partnership with Early Warning to offer credit unions access to the ZelleSM Network. Early Warning’s ZelleSM Network, a financial institution-led digital payments network in the U.S., will enable members of participating credit unions to send money to anyone with a U.S. bank or credit union account.
The CO-OP partnership with Early Warning will enable participating credit unions to implement ZelleSM capabilities in late 2017.
RealPay by CO-OP already offers credit unions the ability to make person-to-person (P2P) payments from one bank account to another. By offering access to ZelleSM, credit union members will gain the ability to send and receive faster P2P payments from the convenience of their mobile phones or online banking platform. Credit union members will also gain the ability to make payments using only the recipient’s email address or mobile number, which limits the sharing of sensitive bank account details like routing numbers.
“CO-OP is committed to offering the latest mobile and online payment services to its credit unions and making transactions as convenient and secure as possible for their members,” said Todd Clark, President/CEO, CO-OP Financial Services. “Partnering with Early Warning greatly expands the ability of credit union members to make faster P2P payments, an innovation that will help credit unions grow through enhanced member interaction and loyalty with their institution.”
RealPay by CO-OP is available to credit union members in three products to meet specific credit union needs: 1) Integrated within a credit union’s own mobile banking app or online banking channel as an application programming interface (API); 2) As a function of Sprig by CO-OP, the company’s turnkey mobile app; and 3) As a function within the brandable and configurable CO-OP Mobile app.
“Credit unions are essential to bringing faster payments on the ZelleSM Network to all U.S. consumers nationwide,” said Paul Finch, Chief Executive Officer, Early Warning. “As a technology leader in the credit union movement, we are pleased to partner with CO-OP Financial Services and look forward to working with them to deliver faster payments to credit union members nationwide.”
About Co-Op Financial Services
CO-OP Financial Services is a financial technology company that supports 3,500 credit unions and 60 million members by providing a cutting-edge suite of customizable tools and services. The company was the first in its industry to merge purpose, innovation and technology to help credit unions advance the industry mission of people helping people. To learn more visit www.co-opfs.org.
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 earlywarning.com.