Early Warning Services, the bank-owned operator of peer-to-peer payments app Zelle, announced Thursday (May 30) it has named Albert “Al” Ko as its chief executive.
In a press release, the company said the appointment was effective as of May 13, 2019. Ko assumes the day-to-day leadership of the company and will also join Early Warning’s Management Committee, comprised of representatives of its ownership which include Bank of America, BB&T, Capital One, JP Morgan Chase, PNC, US Bank, and Wells Fargo. Ko succeeds Paul W. Finch, Jr. who retired from the company in March.
“Al is an exceptional leader, with a deep product management background and a strong track record of operational discipline,” said Bill Wallace, chairman of the Early Warning Management Committee, and head of digital for Consumer and Community Banking (CCB) at JP Morgan Chase & Co. said in the press release. “He is especially adept at leading businesses at scale, helping them reach their maximum potential. We look forward to him making a positive impact on Early Warning, and on the banking industry at large.”
Ko most recently served as chief transformation officer at Intuit, where he was in charge of initiative changes across the company. Over the course of more than 13 years at Intuit, Ko held several executive positions including general manager of Mint, Intuit’s consumer-facing personal finance app and head of products for Intuit’s small business group where he was in charge of the global expansion of QuickBooks, payments and payroll. Prior to his tenure at Intuit, Ko was a consultant at both the Boston Consulting Group and McKinsey, where he advised technology and industrial clients on strategy, organizational effectiveness and supply chain management.
“I’m honored, humbled, and excited to lead a company that has been at the epicenter of some seismic shifts in the banking industry,” said Ko in the press release. “Early Warning is in a phenomenal position to lead the next wave of change. The team, its technologies, and its partners are transforming financial services, removing friction from experiences, and making life easier for millions of consumers. I look forward to continuing our tradition of innovation, and unlocking future growth opportunities.”
The appointment of Ko comes as Zelle is seeing huge traction. In the first quarter of this year, $39 billion was sent through the app with 147 million transactions conducted.