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The Zelle instant payment service was launched in June 2017. Previously, the Zelle service was known as clearXchange, which offered payment services through member financial institutions and a website. Launched in April 2011, clearXchange was originally owned by Bank of America, JPMorgan Chase, and Wells Fargo. After Capital One and US Bank joined as additional partners, clearXchange was sold to Early Warning Services, the largest bank-owned P2P payments network in the US, in January 2016. In December 2017, all clearXchange accounts for person-to-person payment services were rebranded as "Zelle", and clearXchange users began being required to recreate their profiles in Zelle to continue using the service.


 * In March of 2019, Early Warning Services's CEO, Paul Finch, who launched the Zelle Network stepped down as acting CEO. Finch's desire to step down was a result in directing a nonprofit organization, the Finch family Foundation, in Phoenix, Arizona to aid deprived families and adolescents. While Paul Finch was the active CEO, in 2017 the Zelle Network had more than $75 billion worth of payments.
 * In May of 2019, Early Warning Services appointed their new CEO, Albert Ko. Before Mr. Ko became the new CEO, he was originally the chief transformation officer for Intuit. While being an officer for Intuit, Albert Ko was the general manager for Mint, as well as, an oversaw for QuickBooks.

Zelle is currently in the process of establishing more banks and credit unions into their network. They have officially partnered with institutions such as Bank of Hawaii, Comerica Bank, Morgan Stanley, and M&T Bank. However, even though they are partnered with the Zelle Network, they have not officially launched these institutions for users to use.