Provider of enterprise software applications Baldwin Hackett & Meeks (BHMI) has announced that Early Warning Services (EWS) has selected its concourse financial software suite for the Zelle fast payments network.
The solution is an integrated collection of back office products developed to enable companies to “adapt to the rapidly changing world of payments.”
EWS will utilise the suite to support disputes management for payment transactions processed by the Zelle network.
“Our mission is to provide flexible and reliable applications to support the overall success of our client’s businesses,” said Lynne Baldwin, president of BHMI.
“Zelle provides an easily accessible and useful service for a wide range of customers. We are pleased to support Early Warning Services and Zelle, and helping Zelle better serve its clients across the US.”
Launched in 2017, the Zelle payment network connects financial institutions and enables individuals to electronically transfer money from their bank account to another registered user’s bank account (within the United States).
The network is accessible through the use of a mobile device or the website of a participating banking institution.
Early Warning Services selected the concourse suite with the “primary focus” on tackling dispute/chargeback management requirements of Zelle.
“BHMI’s Concourse solution is ideally suited for a fast payments network like Zelle,” explained Lou Anne Alexander, group president of payments, Early Warning Services.
“We chose Concourse not only because it meets our disputes processing needs, it can also provide integrated back-office support services such as payment research, settlement, and reconciliation across the Zelle network.”
The US Federal Reserve recently announced it has initiated work on its own faster real-time payment network, with an expected 2023/2024 launch.