Zelle reports a strong second quarter credit: shutterstock.com

Early Warning Services, the network operator of Zelle has reported strong second quarter growth for the service. Specifically, total Zelle transaction volume was 705 million with a value of $197bn, 10% and 9% quarter-on-quarter growth, respectively. And now, more than 50% of minority depository banks in the US offer Zelle.
 “At a time when technology is integral to bolstering customer growth, the National Bankers Association prioritises partnerships with tech providers that strengthen banking services to small businesses and consumers,” said Nicole Elam, President and CEO of National Bankers Association, which supports America’s minority-owned and -operated banks. “We support the minority banks utilising the payment platform Zelle because of their unique role in providing financial services to communities.”

Over 2,100 bank and credit union brands now offer Zelle to their customers, consumers and small businesses. This represents more than 80% of Us deposit accounts. MDI banks on the Zelle Network increased by 26% year-over-year.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Enhanced security measures

All banks and credit unions on the Zelle Network must implement Risk Insights for Zelle. This free service gives institutions recipient risk attributes to assess potentially high-risk transactions and ultimately reduce fraud and scams. In addition, the network has a new consumer reimbursement benefit for specific scam types.

In 2023, Early Warning partnered with the Better Business Bureau Institute and their Corporate Trust Council. This is a coalition of companies dedicated to helping people avoid scams through education. The company also partners with the National Council on Aging (NCOA), working with the organisation to develop and publish educational content on avoiding payment scams aimed at older Americans.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.