NEW YORK, Sept. 19, 2005 (PRIMEZONE) -- CashEdge, the leading provider of online financial applications, today announced that it has expanded its risk management services, which provide risk management and assumption options for all transactions associated with the Company's TransferNow and FundNow products. With three levels of risk management options to choose from, financial institutions can provide online account funding and funds transfer services to their customers and utilize a level of support best aligned with internal capabilities and resources.
"As a provider of transaction services to over 200 leading financial institutions, CashEdge is an expert at monitoring, mitigating and managing the risk associated with online financial transactions," stated Sanjeev Dheer, CEO of CashEdge. "Most financial institutions want to expand the range of transaction services they offer, but are reluctant to do so because of the inherent risk involved. With our extended service options, those financial institutions can now benefit from the revenues and customer satisfaction that online transaction services deliver, with the appropriate level of risk."
CashEdge clients now have a choice of three levels of risk management services to meet their needs:
CE Data Services -- CashEdge provides the financial institution with all necessary data to monitor and manage its own transaction risks internally.
CE Risk Management Services -- CashEdge monitors and reports on all suspicious activities relating to customers, accounts, transactions, and institutions. CashEdge also conducts fraud investigations where necessary.
CE Guarantee -- CashEdge assumes all risk for transactions within pre-set parameters, so that any fraud perpetuated against the financial institution results in no loss to that institution.
"Customer demand will continue to drive the use and growth of online money movement services," added Dheer. "CashEdge is providing a range of solutions for financial institutions to meet that demand, while mitigating or eliminating the inherent risks. It's an attractive solution."
About CashEdge
CashEdge(r) provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities. With CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.
CashEdge serves over 200 financial institutions in North America, including such leading institutions as Bank of America, Citibank, Harrisdirect, Microsoft, Royal Bank of Canada and The Vanguard Group. CashEdge has offices in New York and Silicon Valley. For more information, please visit our Web site at www.cashedge.com.