December 18, 2020
TABLE OF CONTENTS
When Zelle and RTP were just being introduced to the retail banking industry, a top 10 U.S. bank wanted to take the opportunity to be an early adopter. Knowing Levvel’s expertise in the new payment rails, they wanted to partner with us on architecture, technical design, and business process work. This included specific customer use cases, operational diagrams, and flows to better serve banking customers.
The challenge was how to efficiently integrate the third-party service provider when launching Zelle and RTP. Additionally, internal teams needed further alignment in assessing the bank’s operational and architectural needs for this new payment rail.
Levvel’s mission was to focus on the business strategy and operations of these payment rails, and then work on the technical architecture blueprint to implement Zelle and RTP. The strategy work included expertise on use cases and customer journeys, while the technical analysis focused on the development of the technical architecture.
This approach provided the bank with:
This top U.S. bank would be one of the first financial institutions to implement Zelle and RTP. With Levvel’s help, the bank was able to integrate the third-party vendor into their existing ecosystem and successfully launch these new payment rails.
You’re going to use technology to change the world. We’re going to help you create it. Whether you are reinventing your company, creating an industry-changing product, or making existing products even better with new technologies—we exist to make your endeavor a success story. Our team is made up of leaders, thinkers, designers, and builders whose collective experience spans many industries and companies of all sizes. We’re avid fans of technology but even bigger fans of solving business problems. An understanding of the difference between an idea and a solution is just one of the things that set us apart.
On January 28, 2021 at 2 PM ET, join industry experts from Levvel and Bank of the West for a webinar on how financial institutions can be successful in the new world of digital payments and ‘Banking as a Service’ (BaaS).
While adoption of The Clearing House’s Real-Time Payments (RTP) is picking up among financial institutions, its spread among businesses is still early.
In our recent survey of businesses of all sizes, 49% of respondents said they were uninformed about RTP. This gap can be filled by financial institutions, business process automation software, and even businesses themselves.
Levvel Research's 2021 Real-Time Payments Report (RTP) provides a guide to the many use cases of RTP for businesses and outlines the ROI of adoption for financial management processes, product delivery, and customer satisfaction.