CashEdge

CashEdge Launches Funds Transfer Capability

First Company to Enable Consumers to Move Money Between Their Accounts at Any of 20,000 Financial Institutions in the U.S.

New York, NY & Milpitas, CA - November 20, 2000 —In a move that instantly positions CashEdge Inc. as a leader in the fast-growing market for Internet-based personal finance management solutions, the company announced today the launch of its enhanced Funds Transfer capability, which will premiere at the upcoming BAI Retail Delivery Conference, to be held from November 29th to December 1st in New Orleans. CashEdge's Funds Transfer enables consumers to actively manage their finances by moving money from any of their banking, savings, investment, credit union, money market and other financial accounts, to their other accounts at any one of more than 20,000 financial institutions throughout the United States. CashEdge is offering its product through strategic partnerships with financial service providers, portals and other online destinations. It is also designed to work with all major aggregation platforms.

Sanjeev Dheer, CEO and co-founder of CashEdge, states: ``CashEdge's Funds Transfer is truly a breakthrough that takes financial aggregation to the next level. Consumers can, for the first time, actively manage all their financial accounts by transacting from a single location with a simple point and click. Our Funds Transfer system will transform our partners' Web sites into true personal ''financial hubs`` from which their customers can not only monitor their total balance sheet but instantly act upon the information. This will allow them to better manage their day-to-day financial lives and seize opportunities to optimize their financial status. Ultimately, our goal is to become the personal financial management platform of choice for both consumers and financial institutions,'' he adds.

CashEdge's Funds Transfer solution makes aggregation ``actionable.'' It is a complete, scaleable and customizable platform that enables banks, brokerage firms and other financial institutions to provide, under their own brand, a valuable e-finance service that can evolve to meet the changing needs of their customers. For financial service providers, Funds Transfer will also facilitate easy account funding, while improving asset accumulation and fostering customer loyalty.

A Robust Risk Management Process
A defining aspect of CashEdge's Funds Transfer product is a complete set of integrated risk management solutions. CashEdge protects both its partners and consumers from liability on unauthorized transactions. The company employs a variety of methods to ensure the security of the Funds Transfer process by encrypting all data and restricting access to sensitive information. All communication is done via 128-bit SSL, the strongest form of encryption available. The company has built a total risk management process that includes identity authentication, account validation, transaction limits and customer insurance. CashEdge's risk management system is in full compliance with all existing laws and regulations including the Federal Reserve's Regulation E.

``By assuming the liability and providing expertise in managing risk, CashEdge offers its partners a unique value: a complete, easily deployable product that will add value to both the consumer and the distribution partner, without requiring significant internal development,'' says Dilip Venkatachari, President and co-founder.

Mobile & Wireless Access
CashEdge also provides Funds Transfer on a wireless platform, accessible via WAP-enabled phones, personal digital assistants, and two-way pagers. Consumers can both move money and check the status of existing transfers from any of these devices. Using CashEdge Wireless, consumers can truly move money anywhere, at anytime.

Market Demand
As Internet adoption grows, increasing numbers of consumers are using the Web to manage their personal finances. According to a September 2000 Morgan Stanley Dean Witter report, by 2003 online assets will reach $3.1 trillion, and 70 percent of Internet users will be managing their finances online. The MSDW report states that the future of the field lies in applications that leverage aggregated data, the most powerful of which is the ability to transfer funds from one account to another. It cites a recent survey by Star Systems that found that 57% of consumers consider Funds Transfer ``very important'' to them as part of a financial account aggregation service. The report further notes that CashEdge is the only company currently offering Funds Transfer capability.

An Expanded Platform of Services
CashEdge's robust transaction infrastructure will also extend to deliver a range of new value-added personal financial management services. CashEdge expects to introduce shortly a number of premium services including recurring payments, express payments, person-to-person transfers, as well as a unique investment advisory platform. ``Clearly we have the flexibility to extend this infrastructure to deliver all the services people need to manage every aspect of their financial lives online, from one central point, efficiently, conveniently and with total security,'' Mr. Venkatachari concludes.

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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