February 2008
CashEdge Gains Patent for Accounts Transfer
According to the article “CashEdge, an online-funds-transfer specialist, has been granted a patent that could potentially place it in a lead position in the burgeoning vendor-based online-account opening space, according to a TowerGroup analyst. CashEdge announced it was granted approval on an eight-year-old patent application that covers the "method and apparatus" to allow individuals to transfer funds between different institutions to fund a new account... CashEdge already backs an existing funds-transfer product-being used at more than 600 institutions, including Bank of America, Citigroup and Wachovia-and expects this patent will be the cornerstone of its next-generation payments engine, according to the firm.”