Zelle Integration via Velera (CO-OP)

We are working on a project to create an integration to Zelle from our online banking platforms, via a solution provided by Velera (formerly known as PSCU/Co-Op Solutions). This solution utilizes the Velera shared branching rails and infrastructure we have built for our national shared branching solution, although a credit union will not have to use Velera national shared branching in order to take advantage of this new interface.

Here are some key features (subject to change):

The user experience:

  • Member logs in to online banking and clicks a “Send money with Zelle” SSO link
  • Will launch a Zelle application (using a UI maintained by FIS), displayed within a frame (some minimal branding options may be available)
  • We’ll pass information about the member to check for enrollment status
  • If the member isn’t enrolled yet, terms & conditions are presented
  • Member can enroll using phone number, email address, or both (a verification code is sent to complete enrollment)
  • Once enrolled member can send/money via Zelle
  • Member can choose names from their contact list or create from scratch

How transactions work:

  • Will ride via the shared branch transaction communication rails
  • All processing functionality is the same, using a different network ID and transaction processing codes – so if you are a SB client, you’ll start seeing additional traffic coming through along with shared branch activity (same daily reports, same settlement process, etc.)
  • If recipient is already enrolled, funds move right away; if not, the recipient must enroll and designate where the money should go before transaction is initiated to the member (so CU*BASE won’t know about the transaction until then)

Other features:

  • CUs don’t need to participate in the Velera SB network, but they will be using our Issuer module to interface to CU*BASE
  • We can develop this for both desktop/mobile web as well as the mobile app (we may decide to do one at a time)
  • Members who have already enrolled via another FI will have the option of transferring their existing token
  • Velera handles all alert notifications to the phone/email address provided by the member when enrolled
  • Split requests (one request for funds to be sent to multiple people) are supported
  • Member can view their activity within the Zelle UI

 

Status as of June 2024: Project # 61003 is currently in development. Related projects include #62582 which creates an online/mobile web banking SSO (complete), #62583 which includes changes to the mobile app (in development), and #62584 which includes related API development (to be assigned once the other parts are complete).  Our current target is for development and testing to wrap up in August and beta-testing to begin in September.  Full release to all CUs will be determined when we get closer to the beta-test start. (And yes, we already have a beta CU selected!)

 

Chefs for this recipe: Dawn Moore

Updated
June 11, 2024

Leave a Comment

* denotes required fields
  • (will not be published)

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Check Out the New Recipes We’re Cooking in the Kitchen!

Check Out the New Recipes We’re Cooking in the Kitchen!

Have you visited the Kitchen lately?  If not, we invite you to take a look at a few of our latest projects: Account Aggregation Features for Online Banking Artificial Intelligence Strategies Debit Card Round-up Enhancements Unique Account Identifiers Vendor Interfaces We’re Working On Additionally, there have been significant updates to the following recipes: ANR/NSF Fees… Read more »

Dec 19, 2023