CashEdge and Digital Insight extend agreement

Source: CashEdge

CashEdge, the leader in Intelligent Money Movement products for financial institutions, announced today it has extended its agreement with Digital Insight, an Intuit Company.

Digital Insight is the leading outsourced provider of online banking and financial management capabilities to banks and credit unions in the United States. Through this agreement, CashEdge will provide its industry-leading, online money movement solutions to more small to mid-sized banks and credit unions.

CashEdge's cutting-edge money movement platform provides banks and credit unions with simple, seamless and secure online and mobile banking applications. The Company's products empower financial institutions to rapidly introduce new services in response to evolving market demands, helping smaller financial institutions quickly respond to growing consumer demand for new, easy-to-use money movement capabilities, including online account transfers. The TransferNow Product Suite provides a single point of access for multiple easy-to-use consumer transfer routes, including Me-to-Me Transfers and Third Party Transfers. These transfer routes enable banks and credit unions to offer their customers secure funds transfer services for inter-institution transfers between their own accounts or directly to third parties.

"Digital Insight has unique expertise and leadership in the small to mid-market banking and credit union market. We look forward to extending our relationship with the company," said Neil Platt, SVP and General Manager, Banking, of CashEdge Inc. "By introducing our leading online transfer solutions and aggregation services to more mid-market banks and credit unions, we are enabling these institutions to meet the growing consumer demand for online banking services."

In 2008, CashEdge executed nearly $50 Billion in online transfers, a more than 32 percent increase over 2007 volume. Furthermore, the Company reported an over 30 percent growth in the number of end users accessing its services, indicating a continued growth in user demand for online funds transfer services.

All of the Company's Intelligent Money Movement services are supported by CashEdge's risk management capabilities.

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