Exhibit 2003
`Exhibit 2003
`
`

`

`7/6/2020
`
`U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network | Early Warning
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`U.S. Banks Unite to
`Form Industry
`Leading Secure
`Real-Time Payments
`Network
`
`OCTOBER 26, 2015
`
`Scottsdale, AZ
` 
`
`Meeting consumer, business and government payment needs. In a joint
`prepared statement, the CEOs of Bank of America, BB&T, Capital One, JPMorgan
`Chase, U.S. Bank, and Wells Fargo said, “Our customers want the ability to make
`payments to anyone, in real-time, making funds instantly available in the
`recipient’s bank account. To achieve this, we are combining our collective, bank-
`owned digital payments network (clearXchange) with our fraud, risk and
`authentication assets (Early Warning), to further ensure that our customers can
`send money, confidently, securely, and in real-time via their financial institutions.”
`
`Early Warning, a trusted leader in fraud prevention and risk management will
`acquire clearXchange, the largest bank-owned digital payments network in the
`United States. As part of the transaction, U.S. Bank and PNC are expected to join
`
`https://www.earlywarning.com/press-release/us-banks-unite-form-industry-leading-secure-real-time-payments-network
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`U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network | Early Warning
`7/6/2020
`Bank of America, BB&T, Capital One, JPMorgan Chase, and Wells Fargo as owners
`of Early Warning, pending completion of all applicable regulatory reviews.
`
`The complementary assets of the combined companies will bring
`unprecedented speed, security, and efficiency to U.S. payments, allowing
`financial institutions to meet consumers, businesses, and government
`customers’ demand for real-time payments.
`
`The enhanced platform will be open to all banks and credit unions, of any size,
`and will help modernize and secure the U.S. payment system as envisioned by
`the Federal Reserve Bank’s Payment System Improvement Initiative. The
`platform’s capabilities will also meet the Consumer Financial Protection Bureau’s
`vision of consumer protection in new faster payment systems.
`
`“The bank CEOs are providing leadership at a time when the industry is looking
`for guidance and customers’ expectations have rapidly evolved,” said Paul Finch,
`CEO of Early Warning.
`
`“With this acquisition, Early Warning is bringing together immediate funds
`availability, integrated authentication and fraud management capabilities into a
`single platform. The resulting security, reliability and consistency among financial
`institution payment services will provide a required catalyst to advance real-time
`payments,” added Finch.
`
`About Early Warning
`Early Warning is owned by Bank of America, BB&T, Capital One, JPMorgan Chase,
`and Wells Fargo. Early Warning provides risk management solutions to a diverse
`network of 2,300 financial institutions, government entities and payment
`companies, enabling businesses and consumers to transact securely and
`conveniently. Early Warning’s unique business model facilitates a data exchange
`system based on collaborative, shared intelligence. For 25 years, the company has
`worked with organizations of all sizes to advance collaborative risk management
`and fraud prevention. For more information, please visit www.earlywarning.com.
`
`About clearXchange
`clearXchange is owned by Bank of America, Capital One, JP Morgan Chase, U.S.
`Bank, and Wells Fargo. Founded in 2011 and based in San Francisco, clearXchange
`is the largest bank-offered digital payments network in the U.S. clearXchange
`enables financial institutions to offer easy, safe and convenient peer-to-peer,
`business-to-consumer, and government-to-consumer payments. Five of the six
`
`https://www.earlywarning.com/press-release/us-banks-unite-form-industry-leading-secure-real-time-payments-network
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`U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network | Early Warning
`7/6/2020
`largest banks in the U.S. and multiple regional financial institutions have joined
`the network, and membership is open to banks and credit unions of all sizes.
`Consumers with a bank account at any financial institution in the U.S. can access
`the network through clearXchange’s website. For more information, visit
`www.clearXchange.com.
`
`TAGS Zelle
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`Payments
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`P2P
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`Real-time
`Payments
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`Faster
`Payments
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`Network
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`7/6/2020
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`NEWS
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`Looking for Consumer
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`U.S. Banks Unite to Form Industry Leading Secure Real-Time Payments Network | Early Warning
`Services, LLC, is a
`PRODUCTS
`fintech company
`owned by seven of the
`country’s largest
`banks. For almost
`three decades, our
`identity,
`authentication and
`payment solutions
`have been
`empowering financial
`institutions to make
`confident decisions,
`enable payments and
`mitigate fraud. Today,
`Early Warning is best
`known as the owner
`and operator of the
`Zelle Network , a
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`financial services
`network focused on
`transforming payment
`experiences.
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`Warning supports
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`consumers' rights to
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`dispute and corrects
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`information.
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