Proven Technology Solution Enables Small/Mid-Sized Banks and Credit Unions to Compete with Industry Leaders
NEW YORK
,
Sept. 9 /PRNewswire/
--
CashEdge, Inc. (
www.cashedge.com
), the leading provider of online financial applications to banks, credit unions and wealth management firms and the pioneer in online account opening and funding, announced today the launch of OpenNow/FundNow
Express
, an online account opening and funding solution designed specifically to enable small/mid-sized banks and credit unions to offer the same advanced online opening and funding account capabilities available at larger financial institutions.
OpenNow/FundNow
Express
is the newest addition to CashEdge's OpenNow/FundNow product suite, the industry-leading solution that in 2007 processed more than 1.7 million online applications on behalf of CashEdge's bank and credit union clients.
OpenNow/FundNow
Express
provides institutions with the proven technology and benefits of OpenNow/FundNow - including instant ID verification using best of breed data sources, real-time account verification, multiple electronic funding options and comprehensive risk management services. The solution is simple, turnkey, and cost-effective, enabling small/mid-sized banks and credit unions to go to market in as little as two weeks, quickly increasing their new account acquisition and new account funding rates.
"With nearly 73 percent of consumers preferring to open and fund accounts online, we wanted to create a solution to enable small and mid-sized banks, and credit unions to capitalize on this opportunity, without having to commit a significant amount of internal resources to the process," said Sanjeev Dheer, CEO, CashEdge. "OpenNow/FundNow
Express
is a cost-effective, easy-to-implement solution that enables financial institutions in this valuable segment of the marketplace to compete with the industry leaders while realizing an immediate and positive return on their investment. This product puts online account opening within the reach of every financial institution."
Central Pacific Bank, Hawaii's third largest commercial bank with 39 branch offices statewide and $5 billion in assets, recently launched OpenNow/FundNow
Express.
"Providing online account opening satisfies a rapidly growing customer demand for conducting and managing financial affairs on the Internet," said Wayne Kirihara, Senior Vice President of Alternative Delivery Channels at Central Pacific Bank. "CashEdge's OpenNow/FundNow solution makes it possible for a customer to open and fund an account online in as little as seven minutes, without having to visit a branch. We are pleased to be able to partner with CashEdge, the leader in this industry, to offer this convenient and secure service to our customers."
As a fully hosted ASP solution, OpenNow/FundNow
Express
is highly scalable and flexible, and can also be easily upgraded to the standard OpenNow/FundNow product to meet growing account opening and funding needs.
To learn more about OpenNow/FundNow
Express
, visit
www.cashedge.com
.
About CashEdge
CashEdge(R) provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include online account opening and funding, online funds transfers, data consolidation and small business payment and invoicing. These solutions drive customer acquisition, retention and engagement and are supported by the industry's leading risk management services, enabling financial institutions to create secure and compelling online offerings that attract customers, generate revenues and reduce costs.
CashEdge currently serves hundreds of leading financial institutions, including 23 of the top 100 banks. The Company has offices in New York, Silicon Valley and India. For more information, please visit
www.cashedge.com
.
SOURCE CashEdge, Inc.
CONTACT: Jennifer Moritz of Zer0 to 5ive, +1-917-748-4006,
jmoritz@0to5.com
, for CashEdge Inc.
