Early Warning Launches Real-Time P2P Payments with Bank of America, U.S. Bank

Company now enabling two Top 5 U.S. banks to deliver P2P transfers
with immediate funds availability

, the industry leader in real-time payments, authentication
and risk mitigation, today announced that Bank of America is live and
actively processing real-time person-to-person (P2P) transactions
through Early Warning’s clearXchange™ network. Bank of America is one of
the first banks to go live along with U.S. Bank.

Customers at both banks are now able to send eligible real-time P2P
payments to customers at either bank, with funds made available for use.
The solution is unique in its ability to provide consumers with
immediate access to funds, directly in their bank account. Bank of
America and U.S. Bank have a combined reach of nearly 22 million mobile
banking customers in the U.S.

“Bank of America is committed to being a leader in payments and making
it easier than ever for our clients to manage their finances,” said
Thong Nguyen, president of retail banking at Bank of America. “We’re
focused on creating a simple, straightforward person-to-person payments
experience that lets our customers pay anyone with a couple of easy,
intuitive steps.”

Real-time P2P payments are processed in two simple steps. First, after
enrolling in their bank’s money transfer program, a customer initiates a
P2P payment through online or mobile banking channels using a qualified
recipient’s email address or mobile number. Second, a payment
notification is sent to the recipient and funds are made available for
withdrawal using any channel, including in the branch, at the ATM, with
a debit card, at a point of sale, or more. Consumers’ account
information is not shared and fund transfers are protected by the banks’
comprehensive authentication and fraud prevention tools.

“At Early Warning, our vision of faster payments is an ecosystem built
by financial institutions to provide consumers the ultimate in
convenience, flexibility and safety,” said Paul Finch, chief executive
officer, Early Warning. “Today, I am pleased to see that vision become a
reality with Bank of America and U.S. Bank. We are proud to partner with
these forward-thinking institutions as we bring our real-time payment
solutions to consumers nationwide.”

About Early Warning

Early Warning is creating the future of payments by delivering
innovative payment and risk solutions to financial institutions
nationwide. For over 25 years, Early Warning has been a leader in
financial technology that protects and advances the global financial
system. Learn more at www.earlywarning.com.

About Bank of America

Bank of America is one of the world’s leading financial institutions,
serving individual consumers, small and middle-market businesses and
large corporations with a full range of banking, investing, asset
management and other financial and risk management products and
services. The company provides unmatched convenience in the United
States, serving approximately 47 million consumer and small business
relationships with approximately 4,700 retail financial centers,
approximately 16,000 ATMs, and award-winning online banking with
approximately 32 million active users and approximately 19 million
mobile users. Bank of America is a global leader in wealth management,
corporate and investment banking and trading across a broad range of
asset classes, serving corporations, governments, institutions and
individuals around the world. Bank of America offers industry-leading
support to approximately 3 million small business owners through a suite
of innovative, easy-to-use online products and services. The company
serves clients through operations in all 50 states, the District of
Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35
countries. Bank of America Corporation stock (NYSE: BAC) is listed on
the New York Stock Exchange.

Visit the Bank of America newsroom for more Bank
of America news

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $422 billion in assets as of December 31,
2015, is the parent company of U.S. Bank National Association, the fifth
largest commercial bank in the United States. The Company operates 3,133
banking offices in 25 states and 4,936 ATMs and provides a comprehensive
line of banking, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. Visit U.S. Bancorp
on the web at www.usbank.com.


For Early Warning
Megan Fort, 678-781-7223