July 11, 2017
TABLE OF CONTENTS
Zelle, a new peer-to-peer (P2P) payments service backed by over 30 major U.S. banks, is generating a lot of buzz as of late. But what exactly is Zelle, and how is it any different from Venmo and other P2P payment services?
As a veteran of the financial services and payments industries, I recently wrote an article for the Let’s Talk Payments website to answer these and other common questions on Zelle, such as:
Read the full article on the Let’s Talk Payments website to learn more about how Zelle is disrupting the payments industry and the effects it will have on your business and your relationship with your customers.
Chief Strategy Officer
Scott Harkey is Levvel's Chief Strategy Officer while also leading the Payments and Financial Services work. He has 15 years of banking experience including leading the technology team that implemented digital wallet products at Bank of America along with 10 years of technology merger integration and IT operations outsourcing work at Wells Fargo. Scott brings a unique “insider” point of view combined with a proven track record of delivery to banks, technology providers, and merchants exploring the digital payments space.
Throughout this series we'll provide answers to frequently asked questions surrounding product management for RTP, such as managing the product(s) long term, dealing with cannibalizing current products, and more.
TCH’s RTP adoption is rising. A recent study noted 74 percent of small and large institutions are considering RTP or have begun implementation. Although a large majority are adopting RTP, there are many differences for RTP within small or large FIs.
In 2019, we participated in the RTP Buildathon, sponsored by The Clearing House, Oracle, Yodlee, and The Carolina Fintech Hub. Our task was creating a compelling use case for leveraging the RTP rail and building a working prototype to demo our idea.
Integrating the Zelle P2P Service into a financial institution's ecosystem is an incredible opportunity, but the journey to get there can be a rocky one for institutions not adequately prepared.