NEW YORK, March 15, 2007 (PRIME NEWSWIRE) -- CashEdge, Inc. (www.cashedge.com), the pre-eminent provider of online fund transfers and the pioneer behind opening and funding accounts online, announced today that Huntington Bank is now offering online savings accounts using CashEdge. Huntington's online offering is known as Anywhere Savings at DirectHuntington.com. It has allowed Huntington to expand its online offerings, deepen relationships with customers and attract new customers.
"Huntington helped lead the way in the introduction of online banking and was the first bank to offer online bill pay," said Tim Scholten, senior vice president at Huntington. "Offering an easy and convenient way to open savings accounts online helps our customers to manage their finances in the comfort of their homes. When we considered possible providers, CashEdge emerged as the vendor that could give our customers the level of service they have come to expect from Huntington."
"We are pleased to be selected by a bank that prides itself on the quality of its online presence and strong commitment to customer service," said CashEdge CEO Sanjeev Dheer. "Low account funding rates -- due to unclear instructions and time consuming application procedures -- are among the biggest hurdles in the online account opening process. Fast and intuitive, CashEdge's OpenNow and FundNow solutions provide online hand-holding to maximize new account completion rates and customer loyalty."
OpenNow and FundNow
Huntington's Anywhere Savings is driven by CashEdge's OpenNow and FundNow services. OpenNow and FundNow are the industry's first end-to-end, single session, online account opening and funding solutions. These services enable existing and prospective customers to securely open and fund new accounts in real time through Huntington's site, DirectHuntington.com. OpenNow is an instant online account enrollment, authorization and validation product. FundNow provides a risk-managed service for funding new accounts online. Together, the solutions significantly increase new account completion rates by reducing the time and complexity of opening and funding a new account.
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. Working with CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs.
Recognized by Inc. magazine as one of the 500 fastest growing private companies in the United States, CashEdge currently services more than 600 leading financial institutions. These include Bank of America, Citibank, 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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About Huntington
Huntington Bancshares Incorporated is a $36 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 140 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through over 370 regional banking offices in Indiana, Kentucky, Michigan, Ohio, and West Virginia. Huntington also offers retail and commercial financial services online at huntington.com; through its technologically advanced, 24-hour telephone bank; and through its network of over 1,000 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Arizona, Florida, Georgia, North Carolina, Pennsylvania, South Carolina, and Tennessee; Private Financial and Capital Markets Group offices in Florida; and Mortgage Banking offices in Florida, Maryland, and New Jersey. International banking services are made available through the headquarters office in Columbus and a limited purpose office located in the Cayman Islands and another located in Hong Kong.