October 29, 2008
CashEdge Annual Consumer Survey Reveals Increasing Adoption and Growing Interest Among Consumers for Online Funds Transfers
CashEdge Inc.( www.cashedge.com), the leading provider of Intelligent Money Movement™ services, announced that results from its third annual Consumer Online Banking Survey demonstrate an increasing demand for online funds transfer services among consumers, compared to survey results from the previous two years. Additionally, the survey revealed growing interest in person-to-person online payments and mobile banking. Initially released at the CashEdge Client Conference, Innovation 2008, the study examined the behavior and preferences of more than 425 consumers who use online banking functions (see also CashEdge Inc.).
"For the third consecutive year, consumers are expressing to us the high value that online funds transfer services provide," said Sanjeev Dheer, CEO of CashEdge. "Their responses reveal an increasing demand for, and adoption of, capabilities that offer them ease-of-use and convenience, particularly online account opening and multiple online funds transfer capabilities. With growing consumer demand for moving money online, banks that offer services through the online channel are gaining a competitive advantage in the industry. And this year's survey shows strong support for our belief that the financial institutions that lead the market in this area, particularly in online funds transfer services, have the opportunity to garner a disproportionate share of profitable and loyal customers."