In the coming months, the largest U.S. banks are expected to relaunch their person-to-person payments service with a new name, an easy-to-use mobile app and a slick ad campaign.

The revamped product is called Zelle — short for gazelle, the antelope species that can run as fast as 60 miles per hour. Its architects are promising not only speed — the payments are supposed to move in real time except in cases where fraud is suspected — but also unmatched levels of security.

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