NEW YORK, June 14, 2005 (PRIMEZONE) -- CashEdge (www.cashedge.com), the leading provider of online financial applications, today announced that the industry's premier inter-institution transfer solution for banks and credit unions will now be made available to Wealth Management firms through the CashEdge Wealth Management Suite. TransferNow(tm), which has already been launched by three leading Brokerages, enables transfers between over 23,000 financial institutions, as well as third-party and recurring transfers backed by CashEdge's advanced risk management.
"With TransferNow from CashEdge, our customers have the ability to transfer funds between their Harrisdirect accounts and other institutions," stated Maryann Wasik, Managing Director and head of product development for Harrisdirect. "This allows our customers to have closer management of their assets and more control over their financial lives. With TranferNow, we have enhanced our online hub for financial management - all with the flexibility of CashEdge's funds transfer capabilities."
"Brokerages and other financial institutions recognize that the online customer wants a secure, safe environment to manage and conduct financial transactions," stated Sanjeev Dheer, CEO of CashEdge. "TransferNow, allows brokerages, mutual fund firms and other investment firms to implement cutting-edge funds transfer technology, with the safety and security of CashEdge's deep risk management capabilities. Now online customers can have the freedom to transfer funds at anytime, between any accounts, on a one-time or recurring basis. And by providing this capability, financial institutions become the financial hub allowing customers complete control and flexibility with their finances."
TransferNow, the industry's leading inter-institution funds transfer product, is used by more than 200 financial institutions across the nation Using TransferNow, a financial institution's customers can transfer money between accounts held at any of more than 23,000 banks, credit unions and brokerages. TransferNow automates the authentication of the user and the accounts, manages risk and moves funds.
TransferNow is available in tailored versions for banks, credit unions and other financial institutions as a stand-alone application or as part of CashEdge's comprehensive Bank Suite, Credit Union Suite and Wealth Management Suite.
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, 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.