Fiserv platform will support payments in both the online and mobile channels
Capabilities will span consumer and business customer segments
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Zions Bancorporation (Zions), a $51.5 billion financial services company, has selected Fiserv to support multi-channel digital payments for retail and business customers. The banking company will utilize the CheckFree(R) RXP(R) suite from Fiserv for electronic bill (e-bill) delivery, payments and transfers and ZashPay(R) for person-to-person payments, providing customers with convenient, integrated money movement options. These services will also serve as the foundation for expanded money movement capabilities as the market and consumer expectations evolve, enabling consumers to send money where they want, when they want.
"The continued leadership Fiserv has shown in digital payments, coupled with their vision for the future of money movement, gave us the confidence to choose them as a long-term partner," said Matthew Wilcox, vice president of Interactive Services, Zions Bancorporation. "We want to continue to grow the services we offer consumers and deliver more integrated payments capabilities, and we've found that Fiserv shares that vision and has the ability to get us there."
Zions will utilize the robust Fiserv digital payment platform to power payments through both the online and mobile channels, enabling a consistent cross-channel experience for both consumer and business users. By offering integrated access to e-bills from more than 400 companies, bill payments, expedited payments, person-to-person payments and account-to-account transfers, Zions will make it possible for customers to manage all of their day-to-day money movement needs via their bank's online or mobile channel. This improved functionality and convenience can boost adoption and usage of payment services, which results in more loyal and profitable financial institution customers.
"Zions is offering retail and business customers a set of payment capabilities that will make financial management easier for them," said Tony Catalfano, division president, Electronic Payments, Fiserv. "This type of multi-channel payment platform that can support more than one user segment and can evolve to support additional functionality is something we will see more of in the future."
The CheckFree RXP suite and ZashPay are routinely updated by Fiserv via the innovative "Feature Pack" process. Feature Pack updates enable the implementation of new functions via a central deployment process, thereby ensuring that Zions and their customers will have ongoing access to the most up-to-date payment capabilities. In addition to CheckFree RXP and ZashPay, Zions will implement FraudNet(TM) from Fiserv, an automated fraud detection system, to mitigate the risk of fraudulent transactions across these services.
The addition of these new services represents an expansion of the Fiserv and Zions Bancorporation relationship, as the banking company already utilizes Fiserv services including account processing, ACH processing and remittance.