Advancial Federal Credit Union partners with CashEdge to deliver next-generation online money movement capabilities
Dallas, TX – July 01, 2002 —Advancial Federal Credit Union (www.advancial.org), a Top 200 U.S. credit union, announced today a partnership with CashEdge (www.cashedge.com), a provider of secure online money movement and advanced account aggregation platforms, to enhance its online services with inter-institution transfer and person-to-person payment technologies. These latest efinance developments enable Advancial members to move money quickly and securely between any two accounts at over 23,000 financial institutions, and to send money electronically to friends, family, colleagues, and businesses. Advancial’s members will be able to access these tools through Advancial’s website at www.advancial.org.
This one-step payment solution completely eliminates the need for check writing, empowering members to manage their finances with greater efficiency and control. Person-to-person payments are executed via e-mail, while Inter-institution transfers are executed by simply selecting the initiating and recipient account, and confirming the transfer.
“Through our relationship with market leader CashEdge, we are among the first to deliver advanced online money movement technologies. This new online banking capability puts our members at a tremendous advantage by providing them with remote transaction capabilities they need to manage their day-to-day financial needs conveniently,” said Brent Sheffield, COO of Advancial. “By processing transfers through the Automated Clearing House (“ACH”) network, we are leveraging the same secure process employers use to direct payroll deposits into employees’ bank accounts. This empowers our members to use the Internet to transfer money confidently.”
“Advancial Federal Credit Union is setting a trend through its early adoption of CashEdge’s online money movement tools, and we’re excited to partner with them to deliver these cutting-edge technologies,” said Dilip Venkatachari, president, CashEdge Inc. “As a credit union, the addition of secure, online money movement services creates a win-win for members and for Advancial. Members gain added flexibility with a speedy and convenient online payment option while lowering processing costs for the credit union. We anticipate that other credit unions and banks will be quick to follow Advancial’s lead.”
About CashEdge
CashEdge® provides innovative, online financial applications to banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer, small business payments and invoicing, and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities.
CashEdge has been ranked by Inc. Magazine as one of the 500 fastest growing private companies in the United States for two years in a row. In 2007 it was also recognized by the 2007 Deloitte Technology Fast 500 and Fast 50 as one of the nation's 500 fastest growing private companies and one of the 50 fastest growing companies in the New York area, respectively. The company currently serves hundreds of leading financial institutions including four of the top five banks, 23 of the top 100 banks, and 20 of the top 100 credit unions. CashEdge has offices in New York, Silicon Valley and India. For more information, please visit www.cashedge.com.
Contact:
Jennifer Moritz
Zer0 to 5ive
917-748-4006
jmoritz@0to5.com
About Advancial Federal Credit Union
Advancial Federal Credit Union has been serving members since 1937. With assets of more than $500 million, Advancial is ranked in the "Top 200" among all federal credit unions in America. Based upon continued growth, Advancial's potential number of members eligible for Credit Union services exceeds 125,000 persons locally, nationally and worldwide.