Bank of the West Selects Fiserv to Bring Zelle to Small Businesses
February 02, 2021 at 09:00 AM EST
Bank of the West, a subsidiary of BNP Paribas, is enabling its small business customers to send and receive money quickly and easily with Turnkey Service for Zelle®: Small Business from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions.
As one of the first financial institutions to bring the benefits of Zelle to its small business customers, Bank of the West will be at the forefront of meeting demand for convenient ways to pay and get paid.
“We’ve seen through the roof growth of Zelle person-to-person payments among our retail banking customers, especially in the wake of COVID-19,” said Hisham Salama, Executive Vice President and Chief Digital Officer at Bank of the West. “And we have been receiving significant customer demand from small businesses looking for similar capabilities.”
The Bank of the West digital strategy is centered on payments, an approach designed to increase customer engagement and deepen relationships. After successfully utilizing Turnkey Service for Zelle from Fiserv to enable person-to-person (P2P) payments for consumers, the bank is now extending Zelle payments to its small business customers of all sizes across a range of industries.
Working with Fiserv allowed the bank to reduce time to market, and this approach will provide flexibility that will enable the bank to scale and adapt to future customer demand.
“Small businesses are a priority for us, and we serve customers that range from startups to mid-level,” said Michelle Di Gangi, Executive Vice President and Head of Small Business & Medium Enterprise at Bank of the West. “It was essential that we offer an easy-to-use payments capability that was also cost effective, as small businesses want to manage their time and expenses carefully.”
Turnkey Service for Zelle: Small Business allows financial institutions to enable small businesses with a U.S. bank account to send, request and receive digital payments among eligible customers and suppliers – without cash or checks. Small businesses can:
No additional app is required for small businesses to access Zelle at Bank of the West as it is built into the mobile banking experience.
“There are an estimated 30 million small businesses in the U.S., and they want solutions that make it easier to make payments and get paid,” said Matt Wilcox, President, Digital Payments and Data Aggregation at Fiserv. “Bank of the West is helping to lead the way in offering Zelle capabilities to small business customers, who will benefit from the reach, connectivity and speed of Zelle.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
At Bank of the West, we know money deposited in a bank has the power to finance positive change. So we are taking action to ensure our activities help protect the planet, improve people’s lives, and strengthen communities. We are redefining banking for a better future by focusing on areas where we believe we can have a real impact: supporting energy transition, helping enable women entrepreneurs, and financing innovative start-ups. As the bank for a changing world, Bank of the West is committed to sustainable finance along with our parent company BNP Paribas. Through Digital Channels and offices across the U.S., Bank of the West provides financial tools and resources to more than 2 million individuals, families and businesses.
© 2020 Bank of the West. Member FDIC. Equal Housing Lender . Doing business in South Dakota as Bank of the West California.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among the FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.