CashEdge, the leading provider of online financial applications to banks, credit unions, brokerages and wealth management firms, today introduced Intelligent Money Movement - an enhanced version of the Company's money movement platform that provides consumers and small businesses simple, seamless access to conduct electronic money movement through online and mobile banking applications.
In conjunction with the introduction of Intelligent Money Movement, CashEdge announced the launch of Consumer Third-Party Transfers, expanding its industry leading money movement service, TransferNow.
Intelligent Money Movement simplifies the electronic payments landscape for financial institutions, consumers and small businesses by providing a single point of access through a financial institution's online banking portal or mobile application for multiple easy-to-use consumer and small business transfer routes including new account funding, me-to-me transfers, third-party transfers, employee and vendor payments and invoicing and customer payments. Intelligent Money Movement empowers financial institutions to rapidly introduce new services in response to evolving market demands, helping financial institutions quickly respond to evolving consumer demand for new, easy to use money movement capabilities. CashEdge's Intelligent Money Movement services help institutions manage and mitigate risk with industry-leading risk management capabilities that leverage comprehensive, proprietary technology and the insights gathered from managing money movement risk for the world's largest financial institutions.
Third-party Transfers, a modular add-on to CashEdge's TransferNow Product Suite, enables financial institutions to offer their customers the ability to make secure funds transfers directly from a customer's account to third party (such as friends and family) accounts held at other financial institutions. The service enhances financial institutions' online offerings, improves customer satisfaction and generates incremental transaction-based revenue.
"As the preeminent provider of funds transfer services to financial institutions for nearly ten years, CashEdge is uniquely positioned to deliver Intelligent Money Movement," said Sanjeev Dheer, CEO of CashEdge. "The Company's flexible money movement SAAS platform, including its common risk management at architecture, unleashes the potential for financial institutions to rapidly introduce new transfer modules with ease, by simply switching on a new configuration setting. We expect to launch multiple new transfer modules to our financial institution clients over the next two years."