CashEdge Surpasses $100 Million Transaction Milestone; Transfer Volume Reached In Less Than Two Years.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 6, 2002 CashEdge Inc. (www.cashedge.com), a provider of secure Online Money Movement and Advanced Account Aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. platforms, today announced that it has surpassed the $100 million transaction mark, in account-to-account transfers and third-party payments through its network. CashEdge employs the ACH network and is partnered with NYCE See New York Cotton Exchange. NYCE See New York Cotton Exchange (NYCE). for use of the debit network. "Activity has been heightened by the widespread adoption of our Online Money Movement solutions, and in particular, the popularity of Inter-Institution account-to-account or 'me-2-me' transfers," explained Dilip Venkatachari, President of CashEdge. "As financial institutions increasingly promote OMM OMM Organisation Météorologique Mondiale (French: World Meteorological Organization) OMM Organización Meteorológica Mundial (Spanish: World Meteorological Organization) OMM Organizzazione Meteorologica Mondiale , and users capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. all of its benefits, we will see transaction volumes multiply exponentially," he added. As consumer demand has increased, Online Money Movement has played a critical role in customer retention. In addition to rounding out a financial institution's online banking channel, CashEdge's funds transfer technology also provides critical reporting of consumer data, which enables financial institutions to better understand and anticipate customer transaction behavior, and to proactively market to consumers at the point of transaction. Today's announcement comes on the heels of CashEdge's Overnight funds transfer capability, which is the industry's first solution enabling financial institutions to execute immediate transfers for their customers within 24 hours. Overnight funds transfer provides an unprecedented set of real-time interfaces and risk management controls for financial institutions, as well as a web-enabled partner-support module that allows for total transparency throughout the process, audit trail access, management, and usage reports. About CashEdge CashEdge(R) provides infrastructure that global financial institutions rely on to extend their online channels and enhance customer profitability Customer profitability (CP) is the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person,household or a company that overtime,yields a revenue . CashEdge delivers secure Online Money Movement and Advanced Account Aggregation platforms that power specialized retail banking and advisor applications. These proven solutions enable CashEdge's clients to create compelling online offerings that attract customers, generate revenues, and reduce costs. CashEdge serves top-tier financial institutions around the world. Clients and partners include Vanguard, RBC RBC red blood cell. RBC or rbc abbr. red blood cell RBC, n See red blood cell count. RBC red blood cells; red blood (cell) count (see blood count). Financial Group, Yahoo! Finance, Digital Insight, CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company , FDR, TD Canada Trust, NYCE, Laurentian Bank, Financial Fusion, Advancial, and Thrivent. CashEdge has offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Silicon Valley. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion