Company Signs 160 New Clients for Outsourced Financial
Transaction Services
Banks and Credit Unions Value Ease and Security of CashEdge Solutions
NEW YORK and SAN JOSE, Calif. , Dec. 19, 2005 (PRIMEZONE) -- CashEdge, the leading provider of online financial applications, today announced that it signed more than 160 new banks and credit unions to its client list during the 2005 calendar year. That brings the total number of financial institutions using CashEdge's online financial applications to more than 450. CashEdge products include account opening, account funding and funds transfer solutions, among others. The company also introduced a suite of products for small business banking in October.
"We are very excited about the trend that we see among financial institutions, both large and small, using an outsourced model for online transactions," said Sanjeev Dheer, CEO of CashEdge. "Given the efficiency of our implementations and our ability to assume high levels of risk associated with online transactions, it is no longer practical for financial institutions to build this capability internally."
CashEdge sells directly to financial institutions as well as through a network of distributors. CashEdge's products help financial institutions leverage their online channel and provide better customer service, while increasing revenues and assets.
"CashEdge's products fill financial institutions' needs for making the most of the online channel," said Gwenn Bezard, Research Director at Aite Group. "The growth they are seeing is indicative of growing market demand among financial institutions for empowering consumers with advanced online transactional services."
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 more than 450 leading financial institutions, including such leading institutions as Bank of America, Citibank, Harrisdirect, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.
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