CINCINNATI--(BUSINESS WIRE)--Fifth Third Bank announced today that it will join Early Warning’s Zelle Network to offer customers a safe and fast way to make person-to-person (P2P) payments. With Zelle, money can be sent by simply using the recipient’s mobile number or email address. Fifth Third customers will have access to real-time payments with Zelle in 2017.
“Fifth Third is excited to offer additional services to our customers allowing them to make P2P payments that are simple, safe and received in real time,” said Greg Carmichael, CEO and president of Fifth Third Bancorp. “We are looking forward to working with Early Warning to offer Zelle and continue to enable customers to bank when they want and how they want.”
About 15 percent of consumers say they make P2P payments daily or weekly, according to a 2015 study on digital payments. But many current products don’t allow immediate payments. More than half of consumers surveyed said they would use P2P more often if payments were immediate.1
“We looked at what our customers want, and they want making payments to be fast and simple,” said Chad Borton, Fifth Third’s head of Consumer Banking. “Zelle combined with our award-winning mobile solution provides our customers with another option to manage their financial needs.”
Accessing Zelle through Fifth Third is free and makes it easy to send money to a friend, whether to split the cost of dinner or pay the rent on an apartment.
“The addition of Fifth Third represents a significant milestone as Early Warning continues to expand the Zelle Network making faster, safer payments accessible to almost anyone nationwide,” said Paul Finch, chief executive officer for Early Warning. ”Fifth Third is a leader in innovation, and Earning Warning is pleased to work together to provide Fifth Third customers with access to faster P2P payments through Zelle.”
Zelle is safe: Fifth Third customers will benefit from the convenience of real-time P2P payments and the security that banks provide their customers.
Zelle is fast: Zelle will enable Fifth Third customers to send and receive faster payments, with funds accessible by the recipient within minutes.
Zelle is simple: Fifth Third customers can use Zelle through their Fifth Third mobile banking app.*
*Mobile Internet data charges may apply as well as text messaging charges. Contact your mobile service provider for details.
1 According to a 2015 Accenture study that surveyed 4,000 adults in the U.S. and Canada.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2016, the Company had $143 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart® locations, most open seven days a week, inside select grocery stores and 2,497 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2016, had $314 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Fifth Third Bank was established in 1858. Member FDIC, Equal Housing Lender
About Early Warning
Early Warning is creating the future of payments by delivering innovative payment and risk solutions to financial institutions nationwide. For over 25 years, Early Warning has been a leader in financial technology that protects and advances the financial system. Learn more at earlywarning.com
