Corporate Profile
Recognized by Inc. magazine as one of the 500 fastest growing private companies in the United States, CashEdge® provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge solutions include end-to-end online account opening and funding, funds transfer, and data consolidation. Flexible, scalable and supported by extensive risk management capabilities, these proven solutions empower financial institutions to create compelling online offerings that attract customers, generate revenues and reduce costs.
CashEdge currently serves more than 600 leading financial institutions including Bank of America, Citibank, HSBC, Wachovia, and Royal Bank of Canada.
The company was founded by Sanjeev Dheer in 1999 and is funded by leading venture firms in the U.S. Today CashEdge employs more than 300 employees worldwide and has offices located in New York City, Silicon Valley, Chennai and Gurgaon.
Company Direction
One of the fastest growing financial services companies in the United States, CashEdge has doubled revenues year-over-year, for a growth rate of more than 1000% in the past four years.
CashEdge was built on the vision of creating the leading financial technology company delivering online money movement, risk, and data products to all segments of the financial services market in an ASP model. In the near term the company is focused on:
- Constantly improving on its next generation online money movement products;
- Building the industry utility designed to help banks enhance the customer acquisition process; and
- Creating a “data-utility” for the wealth management industry
Business Model
CashEdge goes beyond providing technology to deliver end-to-end service to customers in an ASP environment. CashEdge hosts the application, and provides risk management, transaction processing, and reporting capabilities. The revenue model includes a combination of license fees, monthly hosting/support fees, and transaction fees, which provides visibility and predictability of future revenue.
CashEdge sells directly to top-tier financial institutions, and partners with resellers to target smaller banks and credit unions. The company has partnered with leading financial technology providers to integrate CashEdge solutions into their applications. These include CheckFree, Albridge Solutions, Corillian, Digital Insight, eMoney Advisor, and Online Resources.
“CashEdge is a great example of a specialist that carves out a profitable niche in a relatively narrow, but risky area of online operations, new account funding. Thanks to big clients such as Citibank, the company is on track to facilitate 1 million online account openings this year.”
Jim Bruene, Editor, Online Banking Report, 2006
“By re-imagining how customers can more effectively and efficiently bank using the Internet, CashEdge has been able to produce an ongoing stream of innovative online banking applications.”
FiSite Research – September 2004
