CashEdge introduces multi-channel system for account acquisition

Source: CashEdge

CashEdge, Inc., the pre-eminent provider of online funds transfers and the pioneer behind opening and funding accounts online, has launched a multichannel solution for new account acquisition.

Responding to the broad demands of the financial services industry, CashEdge has expanded its OpenNow/FundNow online service to support multiple channels for account acquisition. The announcement was made today at CashEdge's Innovation 2006 Client Conference.

The OpenNow/FundNow Multichannel Suite creates a shared database of new account information and enterprise data, which allows customers to initiate applications through one channel and complete the process, or have the process completed for them, through a different channel with no loss of data or efficiency. By cutting across multiple channels CashEdge is able to deliver a single interface solution, which facilitates enhanced user-interface and marketing support. Financial institutions are able to synthesize data across channels for efficient decision-making, accurate forecasting, and more targeted marketing.

"The launch of our Multichannel Suite is an important evolution in the account acquisition technology we are providing our financial clients. Our industry-leading ON/FN service has dramatically improved customer acquisition rates for our clients," stated Sanjeev Dheer, chief executive officer of CashEdge. "By leveraging this expertise, our new Multichannel Suite will enable financial institutions to increase account closing rates on their other channels, while capturing an even greater percentage of new accounts through their online channel."

The OpenNow/FundNow Multichannel Suite is comprised of stand-alone modules that can work seamlessly together off of a single platform enabling real-time account opening and funding. The new Call Center module will enable financial institutions to increase acquisition rates by allowing call centers to complete an application that was initiated online, or to leverage the same platform to assist customers who wish to open an account entirely by phone. In both cases, call centers are empowered through CashEdge industry-leading technology to better support customers, verify account ownership and decision status instantly, and present cross-sell opportunities customized to each caller.

A comprehensive set of solutions for significantly improving customer acquisition, service, and retention, the OpenNow/FundNow Multichannel Suite is supported by CashEdge's unique risk management capabilities applied across channels. These include a variety of options for the account funding process, including an ongoing, multi-point authentication and verification process for managing and absorbing risk that is not available from any other source. "The combination and management of these modules in an integrated platform provides the best armor against fraud, making the Multichannel Suite a combination of superior technology, supported by the most effective risk management tools in the industry," Dheer added.

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