The company has renamed itself Prove and says that the acquisition will allow it to
help banks fine-tune their security procedures when serving customers.
Stephen Ranzini, CEO of University Bank, says The Clearing House's RTP and Early Warning's Zelle handle enrollment, encryption and authentication insecurely.
Albert Ko, who had been the chief transformation officer of Intuit, says he will work to improve Zelle's interface to make it more appealing to consumers.
The bank-led P2P network Zelle saw its strongest quarterly growth during the fourth quarter of 2018, as payment volume rose nearly 60 percent to $119 billion for the year. But a significant amount of this volume comes from just one bank.
For bankers and network providers, it’s a given that moving to a real-time payment system like Zelle will lead to an increase in fraud attempts. Here's a look at the ways they're fighting back.
The irony of the explosive growth of mobile P2P is this: As consumers get more comfortable with paying one another through mobile devices, they're thinking of P2P less as a service that one should find within a bank's app.
