D3 Banking Technology, provider of the industry’s most advanced digital banking platform, today announced its partnership with Zelle, a new person-to-person (P2P) payments network from bank-owned Early Warning.
As part of the partnership, D3 has enabled its platform with a direct, API-based connection to Zelle.
P2P payments have become an increasingly popular way to move money between family and friends. The option allows users to digitally transfer money from the convenience of their smartphones, creating a viable alternative to cash and checks. Zelle allows money to be sent from one bank account to another, typically within minutes when both parties are enrolled, using simply a recipient’s email address or mobile number. More than 65,000 consumers are enrolling in Zelle daily, contributing to more than 100-million real-time P2P payments totaling $51.1 billion in the three quarters of 2017.
“The current P2P landscape is fraught with silos and divisions, often causing a subpar experience for the end user,” said Ian Macallister, vice president of Market Strategy at Early Warning. “Zelle eliminates this fragmentation with the ability to reach tens of millions of consumers through partnerships with companies like D3 and Zelle Network® participants. D3’s financial institution clients benefit from having a superior, API based, P2P option embedded into their apps, ultimately strengthening their relationships with customers.”
Zelle combined with D3’s existing extensive payment capabilities offers a new, fast and easy way for financial institution customers to send and receive money to almost anyone with a bank account in the U.S. The advanced architecture of D3’s API-driven platform enables it to easily introduce new innovations and keep up with customer preferences, such as this partnership with Zelle.
“Ensuring a convenient, frictionless banking experience is a priority for D3,” said Mark Vipond, CEO of D3 Banking Technology. “Today, the user experience facilitated by many P2P solutions can be cumbersome and confusing. We were the first digital banking platform in the U.S. to offer institution-branded money movement services that simplifies transfers and bill payments for the end user. Our approach puts institutions back in control of the experience they provide and the associated customer data. Zelle and our digital banking platform now allow the financial institutions we serve to utilize a P2P service that is fast, safe and easy for consumers to move money.”