Nocember 20, 2008
CashEdge Inc. will offer its Third Party Transfers to American users
CashEdge Inc. announced that two top 10 banks will be among the first to launch Third Party Transfers in 2009. This new technology product is the part of the Company's industry-leading TransferNow Product Suite. And it is promised to be an additional successful tool of CashEdge Inc. which is known as provider of Intelligent Money Movement products for financial institutions.
Consumer Third Party Transfers module is aiming to offer the customers more abilities to make secure online funds transfers directly from their accounts into the accounts of other individuals (such as friends and family). And this service is available in more than 23, 000 banks, credit unions and broke-rages via the ACH network. Moreover, new module is going to improve customer satisfaction and generates incremental transaction - based revenue.
Today CashEdge's consumer Third Party Transfers module enables financial services of the largest banks in the US with millions of online banking users and meets their consumer demands for online transactions.
According to the 2008 survey held by CashEdge consumer banking 88 percent of consumers were interested in funds transfers to their relatives. Online transactions become more popular among consumers. And new technology module certainly took part in that process. Even though it was launched only in September 2008 it has leveraged comprehensive risk management tools that satisfy all business risk and compliance requirements.
As Neil Platt, senior vice president and General Manager, US Banking, CashEdge noted new module can be easily implemented by financial institutions. And what is even more important New Consumer Third Party Transfers product is easy for customers to adopt and navigate.