CashEdge

CashEdge Announces Overnight Funds Transfer

New Offering Leapfrogs Existing Three-Day Standard

New York, NY - October 7, 2002 —CashEdge Inc. (www.cashedge.com), a provider of secure online money movement and advanced account aggregation platforms, today announced the release of its new Overnight money movement capability. The functionality will be rolled-out to all CashEdge customers & re-seller partners by the end of the third quarter, 2002.

Customized to increasing consumer demands for electronic money movement capabilities, CashEdge's Overnight funds transfer is the first solution in the industry to enable financial institutions to execute immediate transfers for their customers within 24 hours. It provides an unprecedented set of real-time interfaces (to account balance information) and risk management controls for Financial Institutions that can significantly mitigate the risks associated with transactions.

"Our Overnight offering is unparalleled in the marketplace. This is a critical development for the money movement market. Financial Institutions are demanding a solution that enables their customers to truly utilize the efficiency of the web," said Dilip Venkatachari, President of CashEdge.

Additionally, CashEdge's technology provides a web-enabled partner-support module that allows for total transparency through the process, including audit trail access, management, usage reports, and risk management.

"I liken CashEdge's solution to FedEx. Our FI partners can offer their customers the ability to move money based on the urgency, offering a lower fee for less time-sensitive three-day transfers than overnight. They also have the peace of mind of being able to track each transfer throughout the process," explained Mr. Venkatachari.

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

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