Fiserv Inc. said that almost 600 banks and credit unions have joined P2P money transfer services through its Turnkey Service for Zelle business, with more than 360 joining during 2019.

Fiserv said the number of financial institutions that are live on Turnkey Services have increased tenfold from a year ago, saying there has been expansive growth in the number of users and the volume of transactions through the service. 

Zelle senders via Fiserv rose 116% in 2019, while the number of people receiving Zelle via Fiserv rose 145%. The number of transactions rose 207% year-over-year. 

"Keeping up with continually changing consumer expectations is an ongoing challenge for retail financial institutions," Tom Allanson, president, Electronic Payments at Fiserv, said in a company release. "Technology can level the playing field, and Turnkey Service for Zelle enables financial institutions of all sizes to offer P2P Payments and grow customer interactions."